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FAQ

If you left a survey for burglars to fill out the next time they ransacked your home, how would they rate the experience?
How did you learn about us?Rumors about rural houses having little Security.Location: 5/10Location was alright. Around 500 meters to the nearest neighbor. But unfortunately an hour away from any sizable population (20,000 plus being a sizable population.)Transportation: 10/10Transportation was top notch. The owners of the property never lock their Minivan or Pick-up truck. The keys are always left in the vehicles. Both are moderately new and somewhat non-descriptive so a perfect getaway vehicle. Not only did they provide vehicles they also kept trailers in a easily accessible unlocked shed.Security: 9/10Security was lax. There is a gate but it isn’t locked. Doors aren’t locked unless the house is left unoccupied for more than 2 weeks. No cameras made it really easy. They did have a dog which made it a bit of a pain. He was easily disposed of as he was just a Labrador Retriever puppy. Owners are very light sleepers don’t rob if they’re around.Products: 10/10No place has better selection. The place had 3 DSLR cameras, 3 Workstation class desktops, 3 tablets, 4 drones, 6 Smartphones, 9 external monitors and 11 laptops. All of the items were of premium design and value (aka Apples or equivalent). The freezers and shelves were well stocked the rest of the property was much more appealing though.They also had a shop on the property with many tools ranging from mechanics to carpentry to fabrication. The tools were of medium quality. The shop also stored 2 ATV for added convenience. The shop wasn’t the jackpot though.The shed was the real treasure trove. This drive in shed held heavy equipment all with the keys in the ignition for easy accessibility. The average equipment’s value was around $100,000, with a combined value of around $1.5 Million. Unfortunately the heavy equipment is hard to transport and the market is too small to get away with it.The products all seemed gift wrapped for the taking. Everything was easy to find as it looked organized.Laws in the area: 10/10Owners aren’t allowed to use lethal force or even have a premeditated weapon for self defense. A robber in the area once accidentally locked himself into the garage place he was robbing. As the owners did not come home for a couple days he resorted to eating dog food. The end result was the owners were charged for negligence of the robber. Laws almost protect us. Owners are not supposed to attack us in any way or they may be charged.Would you recommend to your friends?If everybody is gone a resounding yes. Unfortunately that’s not very often as the house is occupied by Home-schooling kids, a Writer and the owner is a farmer who mostly works on property. Also if you intend to use brute force, bring a weapon. All the occupants are big. The average height is around 6 feet.BTW bring friends to help loot. It really requires a team of people to loot the place.
How do I calculate interest rates?
There is no “rate of interest.” There are an infinite number of rates of interest depending on the maturity of the loan and the credit-worthiness of the borrower. For example, the rate of interest that the government pays to borrow money for 3 months will be very very different from the rate that you will pay to borrow money for 30 years to pay for your house.How are these rates determined? In a free market, they’re set by negotiation between the lender (a bank or bond buyers) and the borrower (an individual, a company, a government).The fundamental, key interest rate in every economy is the rate at which banks can borrow money overnight — the shortest interest rate for the most credit-worthy private sector borrowers. That rate is often determined by the central bank. For example, in the US it’s the federal funds rate. In Britain, it’s the base rate. In the Eurozone, it’s the refinancing rate (actually a 2-week rate, not overnight). This is generally set by a committee made up of members of the central bank, headed by the Governor. In the US, it’s the Federal Open Market Committee (FOMC). In the European Central Bank (ECB), it’s the ECB Governing Council.This rate is important because if you think about it, a one-year loan is just an overnight loan rolled over 365 times. So if people think that overnight rates will stay the same, then the overnight rate and the 1-year rate should (in theory) be the same.Similarly, if they think overnight rates will be unchanged for the next 3,650 days, then the 10-year rate should in theory be the same too (forgetting the 2 leap days, not to mention various other theories of yield-curve determination like the preferred habitat theory etc).Also, nowadays many central banks are busy buying bonds in the open market, like the ECB and Bank of Japan. That affects yields at the long end of the yield curve, too. But that’s a relatively new phenomenon.
When interest rates rise, do stocks usually go up or down?
I like this research put out by J.P. Morgan with highlights the relationship between interest rates and the stock market under different conditions.This chart has four quadrants, two of which have basically no data points in them (upper-right and lower-left), and the remaining two are pretty saturated with a reasonable division between the two (as signified by the orange line).So what does this chart say? It shows the correlation between interest rates and the stock market. So, in the upper left quadrant, it shows a clear positive correlation between interest rates and the stock market (i.e. interest rates move up, the stock market moves up). And conversely, in the lower-right quadrant, the relationship has flipped to a negative correlation (i.e. interest rates move up, stock market moves down). {Please note, I do not mean to imply any causality here. I am not suggesting at the moment that rising interest rates in the upper-left quad. cause a rising stock market…just that there is a clear relationship.}What is the orange line (when does this relationship change) and where are we now?The orange line is the 10-year treasury yield at around 5%, so this chart suggests that when the 10-year treasury is below 5% and interest rates are rising, the stock market should also rise, and above 5%, when interest rates are rising, the stock market should decline. Currently, the 10-year treasury rate is at 2.26%, so well below the 5% dividing line.Why would that be (the two relationships)? One theory is that the causality that discussed before is somewhat flexible. When interest rates are high (think mortgages above 9%, increased loan rates on business, high credit card interest, etc.), if those rates increase, that becomes increasingly more burdensome on balance sheets everywhere, so spending decreases and so does economic activity thus reducing company earnings and the stock market. Under this scenario, the increase in interest becomes a “tax.” On the other hand, in lower interest rate environments (like now), if we were to increase our mortgage rate from 3.25% to 3.75%, we are still at very low rates, to the cost of financing is a relatively low cost. The same can be said for business loans, etc., but when interest rates are rising from a low environment, that is usually a signal that the over-all economic conditions are improving. This is a “tell” instead of a “tax.” The improving economic conditions more than offset the additional expense and so the market tends to move up.Where are we going?Of course that is the $64,000 question, but with the Janet Yellen, the Fed Chairman, having raised interest rates twice already this year and signalling more to come in this year and next, one might believe that the 10-year will also move up. However, this is not a certainly since the Fed Funds rate is a set short-term rate and the 10-year treasury is a market driven rate. Here is a chart of the 10-year treasury (which has been in a bit of a decline recently, although it is higher on the year):It is my belief that as the Fed raises the Fed funds rate (the over-night rate at which banks can borrow money), this will cause the velocity of money to actually increase in the market place (which is against finance 101 theory). The reason being that if the spread between the number at which banks can borrow and lend decreases, which is how they make their money (borrow low and lend out higher), they will no longer be able to lend to only pristine credit and make money (the spread will be too low and client base too small). On the margin, the banks will have to start lending out to slightly lower credit clients (we’re not talking sub-prime yet, just not immaculate credit) and charging a greater rate. The default rates should still be very low in an improving economy, and so the velocity of money increases (which could actually cause inflation and increased rates.)
How can I fill out an IRS form 8379?
Form 8379, the Injured Spouse declaration, is used to ensure that a spouse’s share of a refund from a joint tax return is not used by the IRS as an offset to pay a tax obligation of the other spouse.Before you file this, make sure that you know the difference between this and the Innocent Spouse declaration, Form 8857. You use Form 8379 when your spouse owes money for a legally enforeceable tax debt (such as a student loan which is in default) for which you are not jointly liable. You use Form 8857 when you want to be released from tax liability for an understatement of tax that resulted from actions taken by your spouse of which you had no knowledge, and had no reason to know.As the other answers have specified, you follow the Instructions for Form 8379 (11/2016) on the IRS Web site to actually fill it out.
If the IRS knows how much money we owe, why do we need to fill out returns?
Because the IRS doesn't know how much money you owe. They know approximately what you made, and they know a little bit about some of your deductions, but they don't know whether and to what extent you are entitled to additional deductions or credits, or whether and to what extent you earned money from transactions not reported to the IRS. Even on the transactions that were reported to the IRS, the IRS doesn't always know how much of that income is actually taxable - or at what rate.
How can you file taxes for previous years?
Go on the IRS web site and order the correct IRS form for your type of filing and the correct year. Fill out the form and calculate the tax due, if any. File the form with a check for the tax due. If you can figure out the interest rate, you can include that in the amount due. Calculate interest from April 15 of the year it was due until the actual paid date. Otherwise the IRS will bill you for the interest.As an alternative, you can purchase a copy of Intuit’s TurboTax for that tax year and use that for your tax filing.By filing late, you may lose certain rare deductions for accelerated depreciation, amortization, etc.
Does the reason someone chooses to take out a loan, if required, affect interest rate calculations?
It certainly could. Notice that auto loan rates differ from mortgage rates? Business loans have different rates from home equity loans as well. The rate generally corresponds to the level of risk to the bank and the availability of collateral (an asset that has value the bank can take and sell to get their money back - otherwise known as a secured loan). Loan interest is simply the bank charging you a fee that compensates them for the risk of non-payment. They know that some loans are riskier than others and scale the interest rate based on that fact.
You have taken out a loan for $20,000, to be repaid by 12 monthly installments of $1891.20. How do you calculate the nominal rate of interest?
The nominal rate is 24% per year.I would create an amortization table.  Generally a loan with monthly payments is quoted with a monthly compounded nominal rate of interest.  The table below shows columns for remaining balance, principal and interest.  You can see that using the correct rate of interest (2% per month, meaning a nominal rate of 24% per year).In each row, the interest is 2% of the previous balance, and the principal is the monthly payment (given as 1,891.20) minus the interest for that period.  This is how loans such as home mortgages and auto loans are quoted in the United States.I calculated the answer (2.0%) by solving for the rate that would make the balance exactly zero after 12 payments.$20,000.00 $18,508.81 $1,491.19 $400.01 $1,891.20$16,987.80 $1,521.01 $370.19 $1,891.20$15,436.37 $1,551.43 $339.77 $1,891.20$13,853.91 $1,582.46 $308.74 $1,891.20$12,239.80 $1,614.11  $277.09 $1,891.20$10,593.40 $1,646.40 $244.80 $1,891.20$8,914.08 $1,679.32 $211.88 $1,891.20$7,201.16 $1,712.91 $178.29 $1,891.20$5,453.99 $1,747.17 $144.03 $1,891.20$3,671.88 $1,782.12 $109.08 $1,891.20$1,854.12 $1,817.76 $73.44 $1,891.20-$0.00         $1,854.12 $37.08 $1,891.20