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1500 questions
37
votes
3 answers
Taxes when transferring money
I'm a US taxpayer (non-resident alien) and I'm being pushed by a friend to do the following:
He will transfer 40k from a US bank account that he owns to my personal account.
I will withdraw this amount and hand it back to him in cash.
He will take…
jlhonora
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37
votes
9 answers
Getting $10,000 and have $16,000 balance on two credit cards - How to allocate payments?
I'm getting a chunk of money - $10,000. I have 2 credit cards, each with $8,000 on them. Both have the same interest rate. Should I put $5,000 toward each of them? This way, would my monthly bills go down and make it easier to see the light at…
jenna
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37
votes
5 answers
How does 'upgrading' from one house to another work?
Consider this scenario.
For a given neighborhood, a small house is $100K. A big house is $150K.
For simplicity, assume that you purchase the small house with all cash. 5 years later, it is now worth $300K. So you sell it and make a $200K profit.…
Chris Morris
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37
votes
5 answers
How can a credit card company make any money off me? I have a no-fee card and pay my balance on time
How does a credit card company make any money off of me using their card if there are no fees associated with the card (I don't pay any extra) and I pay off my balance on time every month (so I don't pay any fees ever for this either).
Are they just…
user2667
37
votes
8 answers
What can I do to passively generate income?
I work 3 jobs totaling at 52 hours weekly. I don't have anything of value that I can sell for money. I put $10 into penny stocks a few weeks ago, but they don't gain much. I'm 25, and my savings is about $300. What can I do aside from working to…
Callat
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37
votes
5 answers
What would you do with a large land inheritance with high tax rate?
I just inherited a couple hundred acres of pristine woodland in New England. I'm a nature-lover, so my first impulse is to keep the land as-is, letting campers, trekkers, and wildlife just use it as they like. But the taxes are killing me.
The taxes…
Teusz
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37
votes
2 answers
How do I realize tax losses on a cryptocurrency I can't sell?
I have a bunch of dead coins that don't have any liquidity on exchanges anymore. Is there a way to sell them or report them to the feds somehow so I can harvest my tax losses?
I read about a way that involved sending my coins to the 0x000.....…
DNS_Jeezus
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37
votes
3 answers
Why do some companies choose to file for bankruptcy if it has cash to pay off its immediate debts?
Take for example the car rental business Hertz Global Holdings Inc (NYSE: HTZ).
On May 22, the company filed for bankruptcy protection. But their balance sheet still looked relatively healthy at the time. Why would management choose to do this?…
AlanSTACK
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37
votes
11 answers
Why do people claim that it's hard to outperform the S&P 500? It has only increased in value by ~1.5x in the past 5 years
Whereas companies like Google, Facebook, Netflix, Amazon, Apple have all increased anywhere from 3x-6x in value in the past 5 years. If you just stuck with those companies, you would have easily beaten the S&P 500's 1.5x gains.
Then there are some…
Eric Gumba
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37
votes
7 answers
Selling property inheritance share to sibling, 25 years later: original value? current value? something else?
My father died about 25 years ago, leaving me and my siblings a certain percentage of the lake home and property equaling 100%. At the time of death the property/home was paid for. My brother bought out 6 of the 8 siblings' shares. He now owns 95%…
JC Williams
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37
votes
6 answers
Why would the stock market plunge on oil price crashes?
There are lots of news headlines on 3/9/2020 that read like this:
"Saudi Oil Price Cut is a market shock"
"Oil price war threatens widespread collateral damage"
"low oil prices could damage the US economy"
However, in one of those articles, it…
B Chen
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37
votes
3 answers
Is one spouse responsible if other failed to file taxes
I have a friend who's in a unique situation. She has not worked since she and her husband were married 7 years ago. He has typically worked contract jobs receiving 1099's at the end of the year. She filed her taxes up to the point when they were…
Anthony Shaw
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37
votes
11 answers
Possible executive assistant job scam
Someone reached out to my friend (whom I will refer to as Riley) over LinkedIn and invited them to a job interview. The job was for an executive assistant. The job description was vague and did not have much in the way of requirements.
Riley has a…
WorriedFriend89
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37
votes
4 answers
Why is the car dealer insisting on a loan instead of cash?
I saw a question that said "He (dealer) knocked down the price quite a bit" but my experience is different. The dealership says that they have a US$1500 incentive if I take a loan from their financing company.
That looks like a great offer on a $30k…
Raj
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37
votes
6 answers
How risky is real estate?
I have a friend who plans to retire by putting all of his money in local real estate. He makes a huge return on investment on the property he has now - something like 25%. Fundamentally, I think there is a tradeoff between risk and reward, which…
Josh Brown Kramer
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