Archive for December 2008

12.18.2008

Sold investment house for loss including credit card renovations – How do I prove when filing taxes?

I bought an investment house and did the renovations myself on a credit card. It sat on the market for a year and I ended up technically selling it for more than I paid for it. However, when you add renovation expenses and holding costs (interest only mortgage, utilities, etc), I ended up losing $25K. [...]

12.17.2008

What is a good formula for splitting profits on a rental property investment?

I am involved in a 3-way investment on a rental property and we are being forced to sell because of a DOT project. Our profit on this property will be approximately $75,000 and we need to figure out how to split this up. Being close family members, we weren’t too concerned about figuring this out [...]

12.16.2008

Tax implications of Investment Property Income to a minor?

My husband and I just bought an investment property that we intend to rent. We purchased the property for a 10 year old minor with the intention of us making the monthly mortgage payments and the child receiving the monthly rental income (approx. 12K annually) to put in a savings account. Will our 10 year [...]

12.16.2008

How can I find an informal investment club in my area, one not having to register w/ the SEC?

I’m looking more for a networking group, not a formal investment club that pools their money. Just a group of people that are somewhat organized that gather to discuss investments.Brooke

12.16.2008

What are different fields of Investment Banking, and what is usually involved at the associate level?

I’m interested in the field, but don’t have much experience. I’m interested in Global Markets and would like to get some general information about this field and investment banking in general.Ines

12.14.2008

What type of experience should I get in order to be an investment banker?

also is there alot of opportunities or atleast an okay amount of opportunities to be an investment banker and make good money? what type of jobs should i seek in order to be an investment banker?Lanell

12.14.2008

What are the limitations of a custodial investment account?

I am 17, and I want to open a Custodial Account for stock investment. Can my own bank account be used for this, or does it have to be my parent’s bank account , and then when I turn 18 they give me the earnings. How does it all work?Mercedez

12.14.2008

What services does an investment company provide to an investor?

If you started an investment company, what kind of services would you provide for an investor?Rasheeda

12.14.2008

What is an investment bank and how does it differ from other banks?

What does an investment banker do that other bankers do not? How is someone deemed qualified to be an investment banker?Malisa

12.13.2008

When realtor buy an investment property and put their realtor rebate back to the settlement, is it taxable?

I have two answer. 1) If put back to settlement, it is not taxable. It only reduce your purchase price, when you sell your investment property, you have to pay tax. You only need to pay tax if you get check directly from the builder. 2) Another group think 1) only apply to second home. [...]