Personal Finance & Money Weekly Newsletter - Thursday, April 30, 2015

Personal Finance & Money newsletter

2015 Community Moderator Election The community moderator election is currently in the nomination phase. Please review and comment on the nominees by May 4! Top new questions this week: Am I considered in debt if I pay a mortgage? 75% of Americans are in debt. I'd like to know if I'm also considered in debt if I am paying my mortgage on a house. I didn't think I was in debt if I own the house. I guess I pay 'rent' to a bank ... mortgage debt   asked by Grasper 14 votes answered by Ben Miller 30 votes Can I back out of a house purchase after the inspection if the offer stipulates "as is"? I need your help more than ever. I made an offer on a house (state of Arkansas), and got a counter offer, and now I am about to accept it EXCEPT there is one thing that bugs me: the counter offer ... united-states real-estate arkansas   asked by user3191304 12 votes answered by mhoran_psprep 26 votes Should I sell my apartment for 112% of buying cost or rent it out for 8% annually? I currently own the following apartment: Cost when I bought it: 40K Mortgage left: 30K Annual Interest: 2% (fixed) Current estimated value: 45K (I believe I can sell it ... rental-property selling   asked by Adam 9 votes answered by Pete Belford 10 votes Is www.onetwotrade.com a scam? I am considering opening an account with onetwotrade.com. They require me to initially invest around USD 600, payable only by credit card. Is it safe to do so? Is www.onetwotrade.com a scam? scams   asked by BROY 8 votes answered by BrianDHall 19 votes I am thinking of buying a property to split into 2. How do I determine the costs basis on the existing house? This is a property on over 2 acres. I'd like to buy it, split the property and rent out the existing house. Then build myself a new house on the other portion of the property. How would I determine ... united-states real-estate investment-property   asked by Ryan D 6 votes answered by JoeTaxpayer 5 votes How do I get myself out this disastrous situation I put a car in my name and my fiancé was the co-signer for a lease because his credit wasn't good. Now we aren't together and he stopped paying and everything is on me. I also leased a new truck from ... credit co-sign   asked by Michelle 6 votes answered by Ben Miller 5 votes How does a tuition insurance payment affect 529 withdrawals? Qualified college tuition and expenses were paid from a 529 plan in 2014. The school sent a 1098-T and the 529 plan sent a 1099-Q and everything was fine on my 2014 taxes. In 2015 my child has left ... united-states taxes insurance rollover 529-plan   asked by Michael Levy 5 votes Greatest hits from previous weeks: 15 year mortgage vs 30 year paid off in 15 I've found similar questions, but they all seem to focus on a preexisting 30 year mortgage and whether or not it makes sense to refinance to a 15. My question is a bit different. I have not yet ... united-states mortgage   asked by user24676 55 votes answered by rhaskett 72 votes Do Square credit card readers allow for personal use? Prompted by this question, I began looking for evidence that the Square credit card reader could be used for personal transactions (transactions outside of a business context). Users of Square must ... credit-card small-business payment   asked by mbhunter 2 votes answered by mbhunter 6 votes Can you answer these? What taxes do new subcontractors pay? I started a job a few weeks ago and I was wondering how do I know how much to pay on my taxes if I'm a subcontractor. The contractor who got me on he said that I would get a 1099, but I just want to ... united-states taxes   asked by Ben 1 vote Inheriting funds from a U.S. trust where you are not the trustee I am a U.S. citizen trustee and executor of my mom's trust. My brother is a Canadian citizen and lives in Canada and not a trustee. I will be dividing the trust funds or investments between the two ... united-states taxes canada trusts estate-settlement   asked by user27477 3 votes Money not taken from bank account after large purchase I made a large purchase on a Friday evening using my check/debit card as a credit transaction. The transaction was initially declined by my bank as unusual activity. On the spot I called my bank and ... debit-card   asked by James 1 vote

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