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Subject: persfin-digest V4 #20
Date: Wed, 9 Apr 1997 21:09:32 -0400 (EDT)
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persfin-digest Wednesday, April 9 1997 Volume 04 : Number 020
IN THIS ISSUE:
ADVERTISEMENT: MCI AUTOFORWARD [Oppenheimer Software <Connect-Sales@mcim]
Ira, Thanks for the Interest Rate Refresher [Scott Mabel <sco@snowhill.co]
B&N and Borders Should Get Their Web Act Together [Scott Mabel <sco@snowh]
responses on bond funds and inheritances [Bill.Jones]
RE: Reducing Taxes on Unemployment Compensation [Avrum Lapin <avrum113@c]
Borders and B&N Have an Edge on Amazon If They Act Swiftly [Nick Lebredo]
Finding a good rate on a CD? [Patrick Meighen <pmeighen@wvu.edu>]
Re: Capital Gains Question - Separate Rate? [Rich Carreiro <rlcarr@animat]
Getting the Amazon IPO Prospectus Is Easy [Rich Carreiro <rlcarr@animato.]
Re: Estimated Tax Question? [Rich Carreiro <rlcarr@animato.pn.com>]
Re: maximum 401(k) contribution? [Rich Carreiro <rlcarr@animato.pn.com>]
Re: Gold coin buying tips [jrporter@switch.com (Jim Porter)]
Re: Protecting Real Estate Against Creditors? ["L. Chen" <am302@FreeNet.]
Re: maximum 401(k) contribution? [David Meyers <dmeyers@panix.com>]
Re: Protecting Inheritance? Why? [David Meyers <dmeyers@panix.com>]
RE: Effect of Real-Estate Cash Flow On Income ["Schafer, Rick" <schaferr@]
Re: Unemployment taxes [BOB FORD <BOB_FORD@compuserve.com>]
Re: Estimated Tax Question? [David Martin <dmartin@seabreeze.hc.ti.com>]
RE: Fidelity Funds - Maybe Management By Committee Is A Good Thing [Keith]
re:maximum 401(k) contribution? [Steve Foulks <sfoulks@nmu.edu>]
RE: Protecting Real Estate Against Creditors [Derek Dysart <dysart@pacifi]
Re:Talking to the IRS [Steve Foulks <sfoulks@nmu.edu>]
Credit Score? [WRobinette@aol.com]
Re: Talking to the IRS ["David J. Churchill" <churchilld@worldnet.att.net]
Income Tax Deductions from Paystub ["David J. Churchill" <churchilld@worl]
Re: Jonathan Pond ["Barry H. Rodin" <brodin@pica.army.mil>]
What's a FICO? ["Dill, Mary" <mdill@jhancock.com>]
Re: Historical Stock or Mutual Fund prices? ["L. Chen" <am302@FreeNet.Bu]
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Date: Wed, 9 Apr 1997 20:10:00 -0400 (EDT)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: MCI AUTOFORWARD
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------------------------------
Date: Wed, 9 Apr 1997 20:13:25 -0400 (EDT)
From: Scott Mabel <sco@snowhill.com>
Subject: Ira, Thanks for the Interest Rate Refresher
Follow up;
I put my cash into two 5 star funds and one long-shot. BT International and
T. Rowe Price Equity Income have both done well in up and down years. U.S.
Funds Eastern Europe & Russia is brand new, and is my long shot/speculation.
Other than short-term storage, I think I'll stay away from bonds for another
15 years. Ira, thanks for the econ refresher. I had my cause and effect
reversed.
(Editor's Comment - I like bonds in a portfolio (so does Warren Buffett,
so I'm not in such bad company). They give you steady income and are a
hedge against making totally goofy stock and mutual fund selections.
Properly used, bonds lower portfolio risk. -IK)
------------------------------
Date: Wed, 9 Apr 1997 20:15:44 -0400 (EDT)
From: Scott Mabel <sco@snowhill.com>
Subject: B&N and Borders Should Get Their Web Act Together
(Editor's Question - Wouldn't B&N and Borders be cannabilizing their
retail outlets by offering discounts through the Web? Isn't that the
problem with retailers and the Web in general? -IK)
Yes, they'll cannabilize a little, but if they don't get involved, Amazon
threatens to cannabilize them, too. Also, we just had 15 readers write to
say how and why they love to browse retail stores. B&N may as well chase
the web dwellers, too.
Also, when Coke introduces the next flavored soda, it may cannzlize regular
Coke, but they're also hoping to steal Pepsi's flavored soda customers, as
well as some juice drinkers, etc. As long as the market share belongs to
Coke, they're willing to spread it out a bit.
(Editor's Comment - What's ironic is that all of them buy from the same
suppliers - the big wholesalers like Ingram. Since nobody really stocks a
million books, everyone's working off the same inventory! -IK)
------------------------------
Date: Wed, 9 Apr 1997 20:18:04 -0400 (EDT)
From: Bill.Jones
Subject: responses on bond funds and inheritances
In response to Scott M, who asked what bond funds he should be in because
he fears a stock market correction:
1. If you believe interest will continue to rise, what Ira said about
1-year treasuries is best; that or a money market, which is like 3-month
treasuries. My wife thinks this, so her waiting-for-the-fall money is
in money markets.
2. If you believe interest rates on long bonds will not rise any further
beyond the current 7.10%, and will probably drop, even with a strong
market correction, buy long bonds. That is what I did with a substantial
part of my waiting-for-the-fall money.
3. If you believe that a correction, though inevitable, may come in 1 month
or perhaps 6 months, with perhaps a 1-in-4 chance of not coming until next
year after reversing course and gaining another 20%, then junk bonds have
a lot to recommend them. You get moderately little downside risk when
the correction comes, with great returns until it does. My brother-in-law
has this view of things, so his waiting-for-the-fall money is in junk bonds.
4. "Proof" for #3 is: the 4 most recent significant market drops were:
Date S&P500 Fidelity Capital&Income Fund
Aug '87 -33.0% -6.0%
Jan '90 - 8.1% -4.4%
Jul '90 -16.5% -1.9%
Feb '94 - 8.5% -3.5%
Overall conclusion: No one knows. Base your decision on your own estimate
of the future of the economy, and suffer like most of us when you are wrong.
========================
In support of John Leipold's response to J.D. Richardson, who asked how to
protect a large estate for the kids:
I agree that one should spend most of it, leaving just a few hundred thousand
to the kids. If you raised them right and gave them a good start in life,
that should be all they need. A reasonable estate plan is that, whenever your
assets get close to $600,000, establish a straight-life annuity (which pays
much more than normal returns in exchange for being worth nothing when you die)
or a charitable remainder trust (which pays a little better than normal returns
in exchange for leaving the remainder to charity). Fidelity has a very low-
cost method of arranging this.
Bill Jones email: bill.and.ginny@worldnet.att.net
------------------------------
Date: Wed, 9 Apr 1997 20:23:57 -0400 (EDT)
From: Avrum Lapin <avrum113@cyberg8t.com>
Subject: RE: Reducing Taxes on Unemployment Compensation
>My questions are: how can I reduce this amount tax owed? Should I
>consult a CPA? How much would a CPA services cost?
First - Unemployment compensation is taxable income at the Federal level.
Some states (California) do not tax unemployment compensation.
If all of your income is wages (w-2) and you can't itemize there is little
that a CPA will do for you except sent you a bill. You might be able to
find a VITA site where a trained volunteer will go over your forms. Your
public library might know where a VITA site is.
If you owe the Feds $429 your taxable income should be $10400 to $10425.
If not you are doing something wrong in your calculations.
What should you do. File and send as much money as you can. The Feds will
send you a bill with interest. How come you didn't have taxes wthheld.
Avrum Lapin
Upland., CA
(Editor's Comment - Make sure you file. You don't have to pay everything
you owe but you'll owe *plenty* in all sorts of penalties if you fail to
file on time. You can get an extension to August 15th using Form 4868 but
that only causes the interest clock to start on April 15th. -IK)
------------------------------
Date: Wed, 9 Apr 1997 20:25:35 -0400 (EDT)
From: Nick Lebredo <NLebredo@exchange.ureg.ohio-state.edu>
Subject: Borders and B&N Have an Edge on Amazon If They Act Swiftly
>Larry Dignan wrote..."The Amazon IPO seems a bit shaky because it
takes little effort by Borders and Barnes & Noble et al to get in the
act." ....
>(Editor's Question - Wouldn't B&N and Borders be cannabilizing their
retail outlets by offering >discounts through the Web? Isn't that the
problem with retailers and the Web in general? -IK)
B&N and Borders and other major retailers would have an edge on Amazon
if they acted swiftly and developed their own web-based store. I don't
think cannabilization is the issue since they would be selling the
same product - only through a different distribution channel. In fact,
in many cases these two mediums serve different customer profiles. The
web-based consumer typically knows exactly what he/she wants and is
seeking convenience and quick service. The retail store consumer more
typically is stopping by to browse or is unsure of their exact needs
(i.e., get a HTML book but wants to flip through the pages to find a
book with a good personal fit). The retail type of consumer may also
be looking to get some value-added benefit from the book store
experience (being able to get an out of town newspaper, have some
coffee, etc.). In other words, maximum convenience and immediate
service may not be the retail store consumer's first priority.
I believe the major retail stores would risk harming their business if
they don't move quickly and get established in this new medium. They
have the resources to give Amazon a difficult ride. I would think
having a brand name and a complementary physical location "located
near you" would be a distinct competitive advantage.
------------------------------
Date: Wed, 9 Apr 1997 20:28:16 -0400 (EDT)
From: Patrick Meighen <pmeighen@wvu.edu>
Subject: Finding a good rate on a CD?
We're looking into starting a CD and our local banks are paying around 4.9
%. I found a site on the web (http://www.banx.com/bloombrg/banx.htm) which
allows you to look up rates on CDs and even gives state and regional
averages for CDs and money markets.
One bank that they list for my area (West Virginia) is Advanta National
Bank which is paying 6.2% for a 1 year CD and the site gives an 800 number
for them. I'm a bit nervous investing with a bank that I've never heard of
and that my only contact is an 800 number.
Has anyone invested with a bank over the phone or have any knowledge of
Advanta National Bank? Also does anyone know of a source that can beat 6.2%
on a one year CD?
*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*
Patrick D. Meighen
Information Systems Control Specialist
Morgantown, WV 26506-6355
(Editor's Prediction - CDs will make a comeback! The Fed has definitely
signaled that interest rates are going up. Many people are jittery about
the recent volatility in the stock market. Safety and steady (though
lower) returns will look attractive to many. -IK)
------------------------------
Date: Wed, 9 Apr 1997 20:29:22 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Capital Gains Question - Separate Rate?
>I'm a rookie in the tax arena (this is the first time I've done my taxes)
>and I've got a capital gains question....The only capital gain I had for the
>year was for about $145, and on my 1040, I simply added this in with my
>income (on line 13 and put CGD on the dotted line). Is this the correct way
>to handle this? I thought there was a seperate rate for cap gains??? Can
There is and there isn't. The rate for long-term capital gains (which
includes capital gain distributions) is the *lesser* of 28% or your
tax bracket. So until you are in the 31% bracket, there is no
separate rate for long-term capital gains.
You may wish to fill out the capital gain worksheet that's in the
instructions for Sched D to see if you are in this situation. If you
are, follow the instructions (you may have to file a Sched D even if
you have no capital transactions for the year, but the instructions
will tell you this one way or the other).
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Wed, 9 Apr 1997 20:37:02 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Getting the Amazon IPO Prospectus Is Easy
>Ira,
>Since you are involved with this company, why not get a (preliminary)
>prospectus.
>
>Please tell me (and/or persfin-digest) how to go about getting one.
It should be as simply as calling one of the underwriters and asking
for a copy. That's what I did when I wanted to see the "red herring"
for Boston Market (nee Chicken) when it went public a few years ago.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Wed, 9 Apr 1997 20:37:57 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Estimated Tax Question?
[Disclaimer: this is my opinion, not advice. I am not a professional.]
>My tax comes from wages and mutual fund distributions
>that come mostly at the end of the year. Will the
>IRS object if instead of paying estimated taxes, I
>have my employer deduct more for taxes the last two
>or three months of the year to cover the mutual fund
>distributions?
Nope. What you propose is a perfectly legitimate method. We
are only obliged to pay tax on income as we earn it. Since you
haven't earned that money until the final quarter of the year,
you aren't liable for taxes on it until then. So it is perfectly
OK to increase your withholding in the final quarter to cover it.
An alternative method is to leave your withholding the same but make a
single estimated tax payment to cover the tax liability. The problem
with this is that you'll have to use the long portion of Form 2210 to
show that there is no penalty (one uses that portion of the form when
tax payments were not regular through the year and therefore you have
to show your income and expenses for each quarter to justify the
irregular tax payments -- note that wage withholdings *are* considered
paid equally in each quarter even if you changed your withholding
during the year).
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Wed, 9 Apr 1997 20:39:06 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: maximum 401(k) contribution?
>contribution to your account such that the total figure exceeds $9,500. Is
>this a problem, or can you contribute $9,500 of your own money PLUS your
>employer's contribution without fear of getting hit with penalties? Or is
>the total contribution--yours PLUS your employer's--not to exceed $9,500?
The $9500 limit applies only to the *employee's* contributions. Note
that there are other rules that can limit a maximum contribution. For
example, total tax-deferred compensation (like your contribution and
you employer's contribution, insurance premiums paid pre-tax, flexible
spending plans, etc) cannot be more than 20-25% (I forget the number)
of your taxable wages.
Some companies (like mine) will calculate the maximum allowable 401(k)
contribution taking all those factors in mind and will make sure you
don't exceed it. Others leave it up to the employee to deal with. You
might want to talk to payroll/benefits and get the specifics on your case.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Wed, 9 Apr 1997 20:40:12 -0400 (EDT)
From: jrporter@switch.com (Jim Porter)
Subject: Re: Gold coin buying tips
Susan Mangiero wrote:
>Can anyone give me some tips on buying gold coins? How does one find a
>reputable dealer? Is there a difference in price other than that based on
>weight? Thanks.
I'll assume you want to buy gold coins for gold content, and not as a
collector of rare coins.
Gold bullion coins are priced by a premium over the current spot gold price,
so prices vary daily. The markup is less on larger coins, and you can also
save a little by buying in quantity. Here's a couple of examples from
a dealer I consider reputable. I'm showing buy/sell prices as a % over
spot gold price for quantity 1 U.S. Eagle coins.
Buy Sell
1 oz. gold coin +3.8% +5.3%
1/2 oz. +4.5% +7.4%
1/4 oz. +6.9% +12.7%
1/10 oz. +9.1% +22%
In my opinion, not a huge markup for the larger coins. U.S. gold coins,
called "Eagles", cost a bit more than the equivalent gold coins like, say,
Canada Maple Leafs, South Africa Krugerrands, etc. and when you sell you'll
get a bit more also, so it evens out.
If you're thinking about buying gold coins from a telemarketer, look
around first to see if you can get a better deal. One way is to pick
up a copy of either Coin World or Numismatic News, the weekly papers
of the coin business and scan for ads. There are many, many dealers who
have been in business for over 20 years. I do not trust telemarketers
in the coin business.
If I misinterpreted the question, and you are interested in buying gold
coins as a collectible (not for the gold content alone), please advise.
That's a much different situation.
>(Editor's Thoughts - There always seems to be a scandal about coin
>dealers. New England Rare Coin Galleries was one that recently had mega
>problems. -IK)
The scandals typically relate to _collectible_ rare coins being misrepresented
and sold at a higher grade (and price) than their really worth. It's
pretty easy to do with unknowledgable purchasers. I'm not familiar with
any coin dealer getting in trouble for selling fake gold bullion coins.
I'm not a dealer, just a collector. If you have more questions, let me
know.
Jim Porter Internet mail: jrporter@switch.com
------------------------------
Date: Wed, 9 Apr 1997 20:43:50 -0400 (EDT)
From: "L. Chen" <am302@FreeNet.Buffalo.EDU>
Subject: Re: Protecting Real Estate Against Creditors?
> Now my questions:
> Does the "good" daughter need to worry? Does the father?
> In the age of computers, how easy would it be for the creditors to locate
> this property and put a lien on it?
> If they can put a lien on the property, can they attach it to 100% of the
> value or only 50%?
> It there a way the title can be restructured so as to better shield it from
> creditors?
> Could a trust be used in this situation to any advantage?
>
> Thanks,
> David
Consult an attorney. Once there is a judgment, the daughter can't give
away her assets with due compensation. If there is judgment, the
daughter WILL be "asked" to be deposed; and she will be "asked" to list all
her assets, under oath.
Some legal promoters have suggested that you can put the house into a
family limited partnership in which the debt-ridden daughter would be a
limited partner. But I don't know whether that will stand up in court.
Timing and details will make substantial difference.
Lily Chen
am302@freenet.buffalo.edu
------------------------------
Date: Wed, 9 Apr 1997 20:44:59 -0400 (EDT)
From: David Meyers <dmeyers@panix.com>
Subject: Re: maximum 401(k) contribution?
The $9500 cap is on _your_ portion of the contribution.
If your employer matches, say, 50%, then you will put
in $9500 and your employer will add $4750 for a total
of $14250.
There is a separate, higher cap which covers the total,
but it is a bit more complicated.
- --D
------------------------------
Date: Wed, 9 Apr 1997 20:46:13 -0400 (EDT)
From: David Meyers <dmeyers@panix.com>
Subject: Re: Protecting Inheritance? Why?
>From: "Russell J. Foster" <RFoster@specgrp.com>
>I think the less the kids get, the less potential family problems dividing
>the estate. I've seen it happen before in the best of families. Our will
>contains a clause that any contestants of the will are to be disinherited.
>It may sound tough, but they didn't build the estate and they should be
>happy with the smallest of gifts they receive.
Isn't this circular logic - if they are contesting the will,
wouldn't that very clause be part of what they are contesting?
- --D
------------------------------
Date: Wed, 9 Apr 1997 20:49:40 -0400 (EDT)
From: "Schafer, Rick" <schaferr@eng1.otis.com>
Subject: RE: Effect of Real-Estate Cash Flow On Income
Q: Are you sure that the $6,000 positive cash flow actually increases
your income? The depreciation on the properties, depending on the value
of the properties, would normally be expected to wipe out a big chunk of
the cash flow, for tax purposes.
A: This $6k is after depreciation & expenses as I am aware of them. My
understanding is you take a straight-line depreciation over 27.5 yrs.
from the depreciable basis (not the land). What we haven't done is
declare a home office, put a family member on salary, incorporate, form
a trust, and I don't know what else. One thought I had was since I am
employed full time, can we make this a business of my wife's, then have
her put the income into a Keogh?
Thanks for responding.
Rick
------------------------------
Date: Wed, 9 Apr 1997 20:50:51 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: Unemployment taxes
>From: keagar <keagar@bu.edu>
>Subject: Unemployment Compensation & Taxes
>(First time question for the list)
>I was unemployed for 6 mos. during 1996 and received unemployment
>compensation for that period, which is, of course, untaxed.
>snip
I hate to bring you more bad news. A few years ago I collected
unemployment compensation. At the end of the year, I got either a W2 or
1099 (I forgot which) with the amount of unemployment compensation I had
received. I had to pay income tax on that amount.
I found out that just because the state does not withhold income tax
from your checks, it does not mean the amounts are not taxable.
GOOD LUCK
BOB FORD
------------------------------
Date: Wed, 9 Apr 1997 20:51:34 -0400 (EDT)
From: David Martin <dmartin@seabreeze.hc.ti.com>
Subject: Re: Estimated Tax Question?
Paul writes:
>My tax comes from wages and mutual fund distributions
>that come mostly at the end of the year. Will the
>IRS object if instead of paying estimated taxes, I
>have my employer deduct more for taxes the last two
>or three months of the year to cover the mutual fund
>distributions?
On page 17 of the 1996 IRS Form 505, it states "Avoiding
estimated tax: If, in addition to income not subject to witholding,
you also receive salaries and wages, you can avoid having to make
estimated tax payments by asking your empliyer to take more tax out of
your earnings. To do this, file a new W-4."
-David Martin
------------------------------
Date: Wed, 9 Apr 1997 20:52:59 -0400 (EDT)
From: Keith Mealy <kmealy@cincom.com>
Subject: RE: Fidelity Funds - Maybe Management By Committee Is A Good Thing
Ira wrote:
(Editor's Comment - Fidelity has gone to "management by committee" for
their funds. Instead of Peter Lynch, you get 10 MBAs sitting around a
mahagony table. IMO, you'd get better performance relying on a
computer-driven index fund like Vanguard Index 500. You don't have to pay
for the computer's luncheons (or martinis!). -IK)
On the other hand, sometimes the whole is smarter than the parts.
Rather than rely on one extremely talented individual, committee
advisory (as is used by Twentieth Century (now American Century)),
has worked for years, and provides some continuum when one of them
decides to move on.
I have mixed feelings about Vanguard 500 (even though I own it -- I like its
low fees and turnover). I present the following statistics recently
given to me. It states the likliehood of (historically over last 11
years) the Fidelity Advisor Equity Income fund outperforming the S&P 500.
Years in Sample size % of time
Period (#periods) FAEIX outperformed S&P
1 11 55%
2 10 60
3 9 67
4 8 63
5 7 71
7 5 100
The conclusion drawn that over the long term, a good managed fund will hit
a few home runs that will more than cover the periods that it lagged the
S&P. This person also stated that the S&P is a capitalization weighted
index (it's not just 100 shares of 500 companies). A recent WSJ article
said that most of the recent gains were in a few of the heavily weighted
companies.
Question for the day, What does a one arm economist say if he can't say
"on the other hand"?
------------------------------
Date: Wed, 9 Apr 1997 20:53:52 -0400 (EDT)
From: Steve Foulks <sfoulks@nmu.edu>
Subject: re:maximum 401(k) contribution?
The total for you and your employer is $9,500.
Steven M. Foulks, CPA, CFP, PhD
Professor Accounting/Finance
Northen Michigan University
------------------------------
Date: Wed, 9 Apr 1997 20:54:47 -0400 (EDT)
From: Derek Dysart <dysart@pacific.tensornet.com>
Subject: RE: Protecting Real Estate Against Creditors
(I am not an attorney, this advise is worth what you paid for it.)
>Does the "good" daughter need to worry? Does the father?
Yes.
>In the age of computers, how easy would it be for the creditors to locate
>this property and put a lien on it?
This should be very easy for a creditor to do. Although they cannot just
up and attach a lien. There is a process
>If they can put a lien on the property, can they attach it to 100% of the
>value or only 50%?
100%
>It there a way the title can be restructured so as to better shield it from
>creditors?
>Could a trust be used in this situation to any advantage?
Most likely, consult an attorney that specializes in real estate. It will
be money well spent if you save the house.
------------------------------
Date: Wed, 9 Apr 1997 20:55:42 -0400 (EDT)
From: Steve Foulks <sfoulks@nmu.edu>
Subject: Re:Talking to the IRS
>A friend of mine declared bankruptcy in 1987, but was stuck with a $2000
>income tax bill. After a few years he has been able to start paying it
>off, at $25 a month. Now the bill is $3000.
>It seems to me that this doesn't make sense either to him or to the
>IRS. He'll be apying this off for the rest of his life, and surely
>it costs the IRS more than $25 a month to collect his money.
>My questions: would it do any good to talk to the IRS about forgetting
>the whole thing or settling for some cash amount? If a cash amount,
>what would be reasonable to expect? My friend is rather naive, so
>would it be possible for me to talk to the IRS about this for him?
>And if it him or me or both of us doing the talking to the IRS, how
>do we go about initiating the discussion?
First the IRS will not engage in a payment plan that will not self
amortize, so $25 / month will amortize the bill.
Yes your friend could seek a reduced lump sum settlement and the IRS will
likely go for it, if they don't feel that they can collect the amount owing
in full. Call the local "collection" person for the IRS to initiate this
discussion.
Steven M. Foulks, CPA, CFP, PhD
Professor Accounting/Finance
Northen Michigan University
------------------------------
Date: Wed, 9 Apr 1997 20:56:27 -0400 (EDT)
From: WRobinette@aol.com
Subject: Credit Score?
Randy Barnes wrote concerning mortgages:
>>Credit Score is becoming a big issue too. Your
>>FICO should be over 650, and if it's above 700 your credit is golden.
Randy,
How can we find out what our Credit Score is without applying for a mortgage?
Thanks
Jim Robinette
WRobinette@aol.com
------------------------------
Date: Wed, 9 Apr 1997 20:57:25 -0400 (EDT)
From: "David J. Churchill" <churchilld@worldnet.att.net>
Subject: Re: Talking to the IRS
I think your friend should go on paying if he can afford to. While
perhaps he can negotiate a better deal with the IRS, the facts are that
evidently he does owe them money - why shouldn't he pay it just like most
everyone does every April 15?
------------------------------
Date: Wed, 9 Apr 1997 20:58:08 -0400 (EDT)
From: "David J. Churchill" <churchilld@worldnet.att.net>
Subject: Income Tax Deductions from Paystub
Your proposed way of meeting end-of-year federal income tax obligations
(having your employer make extra deductions in the last calendar quarter
of the year) sounds like a good idea to me. Alternatively, you could
make an estimated tax payment in January of the year following.
------------------------------
Date: Wed, 9 Apr 1997 20:59:43 -0400 (EDT)
From: "Barry H. Rodin" <brodin@pica.army.mil>
Subject: Re: Jonathan Pond
>From: Michael Remily <remily@open.org>
>Subject: Re: Jonathan Pond
We just watched a special on PBS by Jonathan Pond regarding Investing
advice. Has anyone else listened to him and is his advice worth something?
I know I ran across a few differences from him and other sources we've
explored.
Thanks.
- ----- End of forwarded messages
Don't you know that if you lined up a bunch of economists or financial
advisors, they would point in all directions. (:-)
Barry
------------------------------
Date: Wed, 9 Apr 1997 21:00:24 -0400 (EDT)
From: "Dill, Mary" <mdill@jhancock.com>
Subject: What's a FICO?
Respondent states "Credit Score is becoming a big issue too. Your FICO
should be over 650, and if it's above 700 your credit is golden."
What is a FICO? How does one determine theirs?
Thanks in Advance
------------------------------
Date: Wed, 9 Apr 1997 21:02:04 -0400 (EDT)
From: "L. Chen" <am302@FreeNet.Buffalo.EDU>
Subject: Re: Historical Stock or Mutual Fund prices?
> Does anyone know of a on-line quote service that allows me to get a
> price quote for a certain date? I would like to put in a symbol and a
> date and get the share price or NAV on that date.
There are historical stock prices on www.teleserv.co.uk. [I do doing
this from memory. So if it is not correct, let me know.]
Lily Chen
am302@freenet.buffalo.edu
------------------------------
End of persfin-digest V4 #20
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