Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

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1500 questions
32
votes
1 answer

Do I have to withhold money when buying real estate from a foreigner?

I have recently purchased a house in the U.S. for ~$375,000 (and I'm a U.S. citizen). It was disclosed to me about a week before closing that the sellers were from China. Aside from a few headaches, the sale went through and I've now owned the house…
concerned
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4 answers

Should my husband's business pay my business?

My husband and I are each starting our own private enterprises--me as a web developer. I'm building a website for his company. Is it worth it for me to "charge" him? At the end of the day the money basically belongs to both of us, but I'm…
thumbtackthief
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4 answers

I claim one and my wife claimed zero on our W-4s, but we still owe...why?

I'm getting a head start on this year's income taxes for my wife and I. I have my W-2 already and I have her last paystub for the year. I claimed one exemption on my W-4, and according to her paystub, she claimed zero. We do our taxes married filing…
user52206
32
votes
5 answers

What is the median retirement savings in the United States today?

http://www.cnbc.com/2016/09/12/heres-how-much-the-average-american-family-has-saved-for-retirement.html The median for all families in the U.S. is just $5,000, and the median for families with some savings is $60,000. I find this very hard to…
curious
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4 answers

Why do most banks in Canada charge monthly fee?

I am not sure about other countries, but here in the UK we mostly don't need to pay a monthly fee. But I was a bit surprised to learn that most Canadian banks do charge monthly fees that some of them advertise a free first year as a special…
Rafid
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32
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6 answers

Is it legal to mortgage a property twice or more?

I was talking to one loan agent lately about getting an investment loan, she was trying to convince me to mortgage my house but my house has been mortgaged already. She was saying "let us not worry about it, we can mortgage it to a different…
Yu Zhang
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32
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2 answers

Why does my car loan interest go up despite making payments on-time?

In my first payment on 06-17-2016, the principal applied to my balance was $186.76 and the interest was $107.50. As I kept making the payment on-time, the second payment on 07-25-2016 was a bit of a shock to me as the principle went down to $93.97…
Tenzin
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32
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5 answers

Why are cars so expensive on Craigslist?

I was helping a friend to buy a cheap car in good condition in California (less than 100k miles for less than $8000) and we looked into Craigslist for cars, since we thought that Craigslist was cheaper than most other options. Auction wasn't a good…
Gabriel Diego
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32
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3 answers

How do I estimate the value of a small cabin rental business I want to buy?

My husband and I are retired. We are looking for a small business we can run until we are gone. We have found a rustic campground with 5 cabins and more space to build additional cabins. It has waterfront, woods, trails, boat ramp, and a home. The…
Fiona Moon Blossom
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32
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11 answers

Should I charge my children interest when they borrow money?

My children (both male, ages 25, soon to be married, & 32, married) have borrowed money from me and my wife on several occasions. They have yet to pay us back what they borrowed. We have never charged them interest on the money they borrow. I'm…
Michael Riley - AKA Gunny
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32
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7 answers

Why is the fractional-reserve banking not a Ponzi scheme?

Operating a Ponzi scheme is a crime which I suppose has some sort of definition in the penal code or criminal law. It is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent…
sibidiba
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32
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3 answers

Why does Chase Freedom require me to "activate" my card for rewards every quarter?

Note: The "activation" I am talking about here is not the same as the "activation" in this question. I just got a Chase Freedom credit card, mostly for the 5% cash back rewards. I had seen that every piece of promotional literature referred to…
Steve V.
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32
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5 answers

Dry cleaners lost $160 pants, what should I do?

My local dry cleaner lost a pair of pants that go with my suit. It's only $160 but I feel like they should compensate me for the loss. So far, they have completely refused. Some of the possible actions I've considered taking are as follows: I've…
GeoJohn
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32
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13 answers

I'm only spending roughly half of what I earn; should I spend more?

around 6 months ago I started this job. Around 3 months ago while reading this very website I downloaded a budgeting software and started writing down everything I earned and spent, and I noticed I'm spending roughly only half of what I earn. This…
anon
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6 answers

Sales tax "trick" while buying a used car; i.e. declaring sale at lower than actual transaction value?

I am selling my car and have found a potential buyer. After I transfer the vehicle ownership, the buyer will have to transfer the vehicle title to himself, and will also need to pay sales tax on the sale price. As the buyer is paying me in cash, he…
punekr12
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