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Recent finance questions

If someone uses a line of credit tied to their investments

If someone uses a line of credit tied to their investments to pay off a home mortgage is the interest on the credit line tax deductible?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
I have 4 high interest rate credit cards with a total

I have 4 high interest rate credit cards with a total balance of $12,556. I am disabled but have passive income of about 90k but have to prepare for VERY high medical costs coming up. I am thinking about a personal loan to pay off the cards but I have car lease with a year left with a balance of $3500 and I want to know if I should put the lease balance into the 60 month personal loan with a 7.5% interest rate. It will cut my total payments on the cards and car from about 600 to 320 a month but extend the payment on the car...I pay about 331 a month currently on the card minimums..

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PDtax

Owner

Master's Degree

 
6,668 satisfied customers
How much interest and penalty to pay will the irs charge me

how much interest and penalty to pay will the irs charge me for setting a payment plan of 44 months to pay off $17000 in taxes?

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PDtax

Owner

Master's Degree

 
6,668 satisfied customers
I live paycheck to paycheck, on public assistance, with good

I live paycheck to paycheck, on public assistance, with good credit and some small savings, but have never been able to get ahead. I can't afford to drive, and live with my family. I do have stable employment, but little advanced education. I recently thought of a radical idea to get ahead, and would like your opinion.I considered taking out a small personal loan, which I could and would pay off in a year or two, and invest the amount in the markets. I know it would take some time for the return on the investment to overcome the interest payments on the loan. But my thinking is, I'm in my mid-30's, and I likely won't be able to make any real gain short of winning the lottery. If I invest smartly however, I could possibly by retirement at least make it into the next tax bracket. However investment requires a lot of initial capital, which I don't have and almost certainly won't in even the distant future. But if I can use the loan for entry, I would at least have something accruing while I'm living poor, and otherwise meagerly trying to get ahead.

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Lev

Retired

Bachelor's Degree Equivalent

 
24,192 satisfied customers
What are the advantages of being listed as sole proprietor

What are the advantages of being listed as sole proprietor or single LLC?

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Rakhi Vasavada

Financial / Legal Advisor

Bachelor's Degree

 
3,900 satisfied customers
Finance and mortgage related question

finance and mortgage related question

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

 
8,896 satisfied customers
I want to go back to school Masters, but wondering what

I want to go back to school for my Masters, but wondering what loans are available besides the financial aid loan if I need more. Would I need to qualify for a personal loan and if so do they look at credit? Also, what are my other options for funding? I got my Bachelors in 2001 and now wanting to go for my masters. My major would depend on what I can afford although I have my main choices. Thanks

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
I have a Credit Score of 620 with 1 public record on my credit

I have a Credit Score of 620 with 1 public record on my credit report, no job at this time, with $362 of monthly SSI. I need a $5000 grant/loan. How would I be able to obtain this amount in these circumstances?

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JACUSTOMER-b0lr4fay-

Senior Tax Attorney

Master's Degree

 
922 satisfied customers
Is the $25,000 associated with the 6,000 lb plus

For Lane: Is the $25,000 associated with the 6,000 lb plus vehicles part of the total allowed Section 179 deduction? In other words, if I purchase and finance a vehicle that meets the requirements under the 6,000 lb plus rule, and I expense $25,000 ofthat purchase, do I still have another $25,000 of Section 179 expensing available to me? Or did the vehicle deduction use up my allowed $25,000 of Section 179 expenses for 2015?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
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