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Subject: persfin-digest V4 #119
Date: Mon, 19 Jan 1998 11:41:16 -0500 (EST)
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persfin-digest Monday, January 19 1998 Volume 04 : Number 119
IN THIS ISSUE:
ADVERTISEMENT: MCI FAX REPLY SERVICE
Re: Best Long-distance Phone Service?
RE:Tax Lien Sales
Re: CD for 10 yrs.
Re: Best Long-distance Phone Service?
Washington or Oregon - Best Place to Retire?
best long-distance telephone rates
ROTH IRA vs Municipal Bonds..... the same??
Re: Tax Liens as Investments
CD for 10 years
home buy/construction
Re: Investment for baby?
Re: Tax audit: Am I getting good advice from my accountant??
Re: Reducing Storage Area for Quicken Transactions?
Re: quicken & mutual fund returns
Re: Great Phone Rates for Military
Re: Income Tax Web Site?
Re: Mellon Mortgage; Re: Home Construction
Catastrophic Health Care Coverage?
RE: Fee Simple?
Re: Investment for baby?
Re: CD for 10 yrs..
Fee simple?
Re: Quicken - Where is their accountability?
$.10 a Minute
Turnover?
Deductibility Of Charity Auction?
Re: Buying unimproved property
Re: Quicken and capital gains time periods?
Re: Question about buying tax liens as investments
Roth IRA income limits
re: CD for 10 yrs..
best phone deals
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----------------------------------------------------------------------
Date: Mon, 19 Jan 1998 11:12:25 -0500 (EST)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: MCI FAX REPLY SERVICE
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Fax:800-492-6862
------------------------------
Date: Mon, 19 Jan 1998 11:13:10 -0500 (EST)
From: Chris Yohn <yohn@mcbi-34.med.nyu.edu>
Subject: Re: Best Long-distance Phone Service?
>Who currently offers the best long-distance telephone rates?
>I'd like to get $0.10/min at all times with no monthly fee. Is this
>possible? Can that be beat?
>
>Thanks,
>Stewart L. Hull
I currently have $0.10/min. 24 hours a day with no monthly fee from AT&T.
Normally, there is a $4.95 monthly fee, but if you ask, they will waive it
for 6 months. I'm planning on calling back at the end of 6 months and
getting them to waive it again.
Chris Yohn
yohn@saturn.med.nyu.edu
------------------------------
Date: Mon, 19 Jan 1998 11:13:27 -0500 (EST)
From: dmak@tma-net.org
Subject: RE:Tax Lien Sales
There are probably many books that have been written about investing
in tax lien sales. I would hunt at your library before spending $180
on anything. From my understanding, the facts are true - you can get
double digit returns but you have to do the legwork! Don't expect to
get a house for a few thousand dollars!
------------------------------
Date: Mon, 19 Jan 1998 11:14:05 -0500 (EST)
From: dulnev@jhu.edu (Jason Dulnev)
Subject: Re: CD for 10 yrs.
>Discover is offerring 6.74% for 10 yrs on their CDs. I am retiring next year
>at 62 and looking for income, would this be good deal?
>
>Ralph in san diego
No, it's a pretty lousy deal. If it's an APY of 6.74%, then that's how
much you should expect to get for a 3-year CD. If 6.74% is an APR,
then that's how much you should expect to get for a 5-year CD. Look at
http://www.fisn.com/rates.htm for the best rates anywhere. FISN is a
brokerage specializing in fixed income investments: CDs, bonds,
callable CDs. All the CDs they are selling are FDIC insured. This is
the first I hear about non-callable 10 year CD and the rate doesn't
seem attractive at all for such a term.
If you're absolutely positive you can lock your money in for 10 years
you may also want to consider callable CDs too.
Jason Dulnev
dulnev@jhu.edu
------------------------------
Date: Mon, 19 Jan 1998 11:14:40 -0500 (EST)
From: dulnev@jhu.edu (Jason Dulnev)
Subject: Re: Best Long-distance Phone Service?
As far as I know, 10 cents a minute with no monthly fee can be beat
only if you live in New York and its vicinity. I know of a company
that offers 7.5 cents a minute rate from New York only. I know of
several ways to get 9.5 cents a minute with $1 monthly fee (BJ's long
distance and PriceCostco Long distance). You don't have to be a BJ's
or PriceCostco member to sign up, for more info call their main 800
numbers. This is for most people the same or worse than 10 cents with
no fee. Atcall offers 10 cents with no fee, look at www.atcall.com for
info, but I do not recommend this company, their billing and customer
service sucks. I currently enjoy 120 free minutes a month and 10 cents
a minute with no fees for 6 months with AT&T, but they only offer this
promotion through telemarketing. And finally, you can look at my page
for several options for domestic, International and calling card
calling: http://ld.net/?dulnev
Take care.
Jason Dulnev
dulnev@jhu.edu
------------------------------
Date: Mon, 19 Jan 1998 11:15:43 -0500 (EST)
From: "TERRY MISENER" <TRMISENE@NRWPO.NURS.SC.EDU>
Subject: Washington or Oregon - Best Place to Retire?
I will be moving to Portland, OR very soon. I have heard arguments as to
whether to live in Washington or Oregon for tax purposes. I am retired
from the military, but will be working in Portland. Understand that WA
has no income tax so the military retired pay would be exempt. Thoughts
from anyone especially those who have had to make that decision before
and no can look back. Thanks. Terry
------------------------------
Date: Mon, 19 Jan 1998 11:16:17 -0500 (EST)
From: "Jack R. Stokvis <Jack R. Stokvis" <smarts@galaxy.net>
Subject: best long-distance telephone rates
Try Intelement (MCI reseller) which is sold to Costco members. The cost
is 24 hrs .095¢/min plus $1.00 per month (800-351-7648) or BJs Wholesale
LD program, same 24 hrs .095¢/min plus $1.00 per month (888-BJS-8999).
Both services also have business rates @.109¢/min with 6 sec billings.
Finally, both services offer very reliable telephone connections. The
only problem I had was that Bell Atlantic's computer did not enter the
correct IntelEnet code and I was originally billed at the much higher MCI
rates.
Let me know if you have better rates.
Jack Stokvis
------------------------------
Date: Mon, 19 Jan 1998 11:17:24 -0500 (EST)
From: "Anderson, Alfred I." <anderson@mayo.edu>
Subject: ROTH IRA vs Municipal Bonds..... the same??
Municipal bonds, purchased in this state, are exempt from both federal and
state income tax. They are, of course, purchased with after-tax dollars. I
tend to hold them till maturity although they are semi-liquid (as would be an
equity).
What is the difference between a ROTH IRA and a municipal bond?
Both are funded with post-tax dollars. Both accrue tax free interest (with
non-AMT bonds) federal and state. Neither are insured.
I can redeem the bonds whenever I desire. The ROTH "rate" may vary while the
Bond coupon is fixed for the life of the bond.
Other than the bond coupon vs the ROTH interest rate, is there a tangible
difference between these two investments that would indicate the ROTH is a
superior investment vehicle?
Alfred
* Alfred Anderson OV ID: AP00085 Internet: anderson@mayo.edu *
* Mayo Foundation (507)284-9123 Pager: 4-6014 *
------------------------------
Date: Mon, 19 Jan 1998 11:20:59 -0500 (EST)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: Tax Liens as Investments
(THE USUAL WARNING)
I am not an attorney and the following is not legal advice. It is just my
opinion. It is based on my experience in California. The laws of other
states may be different.
>I realize people seldom actually default on a good house
>due to $2000 dollars in tax bills, but how do tax liens do
>as investments with respect to the interest paid?
It depends on the state. Some pay low interest rates, some pay high
interest rates and most auction off the tax liens by having people bid the
interest rate DOWN.
>Thomas was saying most counties (in California) pay double
>digit interest on the order of 16% and the investment is guaranteed
>by the government since you get the property if they don't pay the
>tax with the interest.
Here is a challenge for Thomas. Name ONE county that has ever sold a tax
lien certificate in California.
>Where's the catch?
California does not sell tax lien certificates.
>Are these interest rates typical?
It depends on the state. Most states that sell tax lien certificates
auction them of to the bidder of the LOWEST interest rate. The states
that have high MAXIMUM rates usually sell the tax certificate at a lot
less than the maximum.
>Is there any reason not to go to the tax sale, buy $10,000 worth
>of liens, and just wait a year to get repaid with the interest?
Yes they are several reasons. Only about one half of the states have tax
lien certificates. Of the ones that do have tax lien certificates, most
sell to the lowest interest rate someone will bid. There is no assurance
you will get paid in one year. For most states, it takes about 5 years
before you can get the property if the taxes are not paid. If you do get
the property, you will have 4 years of back taxes YOU must pay. Also,
many of the states will let the owner redeem the property even after you
get a Tax Deed for varying lengths of time. This means you can not sell
the property during that time.
A majority of the states that sell tax lien certificates require you to go
to court to get clear title. This can be expensive and consume a lot of
time and you can not get title insurance until you get clear title. If
you can not get title insurance, you probably can not sell the property.
>I wouldn't want to take someone's house and evict them, but if you
>can get higher than cd rate on a guaranteed investment it sounds like
>a good idea.
Then you will have to bid only on open land. Land is very hard to sell and
you must know the value of the land before you bid. It might be worth
less than all of the taxes due.
>As with most infomercials, it sounds and probably is too good to be
>true. In particular, I think he's not selling any information
>you can't get by calling the county tax office directly.
Exactly. If you want information on tax lien certificates, contact the
county tax collector for this information and that information is FREE.
>Here's the details on the infomercial:
>Ted Thomas is the author
>Personal Fortune is the name of his company in California
>price was $179.85 for the books, tapes, videos, etc.
>phone number was 1-800-560-3223
Another trap is buying tax lien certificates on Time Shares. There are a
lot of these for sale in sunbelt states. You do not want to become the
owner of a time share as they have VERY LITTLE value when you want to sell
them.
Still another trap is that some states do not wipe out all other liens when
you get a deed to the property. If the taxes are not being paid, it is a
good bet that other lien holders are not being paid. There may be a large
amount of money due on other liens on the property.
If you need more information, let me know.
BOB FORD
BOB_FORD@ COMPUSERVE.COM
Editor 57-56-55 CHEVY LIST
------------------------------
Date: Mon, 19 Jan 1998 11:22:26 -0500 (EST)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: CD for 10 years
RALPH
You could do better. A lot depends on your tax bracket. You can get 10
year California Municipal bonds that pay 5 percent totally tax free. You
can get corporate bonds rated AAA, AA, A that are due in 10 years that pay
an interest rate above 6.74 %.
There is some risk in Corporate bonds and even Municipal bonds have some
risk.
However with the bonds, it is possible to get a good interest rate AND
appreciation just like stocks. Lets say you buy bonds at face value of
$1000 each at 10 percent interest. Interest rates drop sometime during
that 10 year period to 5 percent. You can sell the bond for $2000. You
will have made 100 percent appreciation on the bond and 10 percent
interest when you owned it.
GOOD LUCK
BOB FORD
BOB_FORD@COMPUSERVE.COM
Editor 57-56-55 CHEVY LIST
------------------------------
Date: Mon, 19 Jan 1998 11:23:47 -0500 (EST)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: home buy/construction
>From: "Martin S. Turnauer" <mturnaue@runet.edu>
>Knowing that this group has a wide variety experiences, I would like your
>help.
>My wife and I plan to build a home at Myrtle Beach, SC for rental for 6-10
>years and then move into it. Since we are out of state, now residing in
VA,
>I would like to talk with people who have done this.
>Also, I would like to know about the experiences people have had with
>modular, sectional or prefab homes. If you have had experiences with Jim
>Walter homes or those type of companies, I would also appreciate talking
>with you.
>Please email directly mturnaue@runet.edu or if you believe others on the
>list would enjoy the discussion, please post your experiences.
>Thanks
>Marty
MARTY
I have been a real estate investor for a long time and I also teach
retirement planning. I am sorry to have to tell you but what you propose
to do is a big mistake. You should never buy property you want to live in
more than 6 months before you will move in. Your plans could change in
6-10 years.
Building and renting a house out of state can be big time problems. Tenants
will not take care of the home like you will want them to. There is also
the problem of collecting rent when it is not paid. Have you had any
experience as a landlord?
If you still want a house in that location in 6-10 years, you can build it
then or buy one from an out of state owner for less than you could build
one. Invest the money you would put in the house now in a good investment
and you will probably come out ahead money wise.
GOOD LUCK
BOB FORD
BOB_FORD@COMPUSERVE.COM
------------------------------
Date: Mon, 19 Jan 1998 11:24:38 -0500 (EST)
From: Steve Foulks <steve_foulks@up.bresnan.net>
Subject: Re: Investment for baby?
>Any advice on setting up investments for a baby. Mutual fund set up as a
>trust? Someone had advised about an college fund that can be used at any
>school but didn't know any details. Thanks david tall
I would recommend setting up an nondeductible educational IRA for the child
and invest that in an aggressive high risk mutual fund, since the time
factor when the money is needed is quite far in the future. However this
investment is limited to $500 a year. You could also fund an IRA for
yourself, and take out money penalty free to help fund your child's
education. There are also special tax exempt savings bonds available for
education for the more risk averse. If you set up just a regular savings,
or investment account in the child's name, it must be depleted before
he/she can get financial aid, so I don't recommed this approach - instead
invest in your name. The problem with any recommedation is that the world
of college education finance is likely to be very different 18 years from
now when your child goes to college.
What we need is a good article that puts all of the new education tax
provisions together to form a course, or courses of action to minimize your
after tax cost of education. There are a lot of sites that discuss the
provisions, but has anyone seen a site that puts it all together?
------------------------------
Date: Mon, 19 Jan 1998 11:25:20 -0500 (EST)
From: Steve Foulks <steve_foulks@up.bresnan.net>
Subject: Re: Tax audit: Am I getting good advice from my accountant??
>I am in the throes of being audited by the IRS for
>business deductions in 1995. My accountant filed my
>return at that time and was the one who ok'd the
>deductions for which the IRS is now questioning.
>
>I have >already spent $500 in fees for my acct to talk with the
>IRS about the audit. Yesterday, I received the news
>that the IRS has disallowed the deductions and now want
>$5000 in back taxes and interest. My accountant thinks
>that the auditor was not being fair and feels that I
>have a good chance of recovering some of the assessed
>taxes in an appeal. The process he suggests in going
>about the appeal process is this:
>1. Talk with the original auditor to convince her
> of her erroneous ways.
>2. Failing the first... go to formal appeal
>My thought is that the first step is unnecessary because
>the auditor is vested in being right about her original
>decisioin. I feel it is unlikely that she will change
>her mind. The issue for me in bypassing this step (if
>it is sensible to do so) is that my accountant will
>charge $150 for this process.
Your auditor has a vested interest in getting the $5,000 but she also has a
vested interest in doing so quickly. I have seen IRS agents bend quite a
bit if the process of collecting the money is going to be long and
protracted. However $5,000 is quite a bit. I think I would talk to her
and make a deal.
>I would also like to know if it makes sense for me to try to go
>through the appeals process myself. I am intelligent and lean toward
>"do it yourself" approaches.
I wouldn't recommend this. The appeals officers are the best and brightest
field auditors. Many are attorneys skilled in the law and they all know
their job very well. You will be a nervous novice ripe for picking. The
appeals process is more formal and they will want you to bring
authoritative infomation (court cases, revenue rulings, regulations, code
sections to support your position). How long would it take you to develop
this competency?
Steven M. Foulks, CPA, CFP, PhD
Professor of Accounting & Finance
Northern Michigan University
<http://www.acs.nmu.edu/instruct/business/sfoulks/default.html/>
------------------------------
Date: Mon, 19 Jan 1998 11:26:09 -0500 (EST)
From: Shankar.Prasad@Eng.Sun.COM (Shankar Prasad)
Subject: Re: Reducing Storage Area for Quicken Transactions?
> I would like to reduce the storage size of my Quicken transactions, they
> start back at Aug/96 and I won't need to refer to them again. Is there a way
> to remove all 1996 transactions without effecting my present balances? Would
> you please e-mail directly. Thanks
>
> Larry
You can do this. Look into "Year-End Archive" in the Quicken 6 help.
When you use Year-End Archive, the information for the past years is
saved into a file copy and the accounts start the new year with the
correct opening balance. I believe that unreconciled transactions
will be retained. (so, you might want to reconcile bank/credit accounts
and also the cash accounts, if any, before doing Year-End Archive).
Also, ALL Investment transactions will be retained - I believe this
is needed to calculate performance, capital gains etc correctly.
Please note that various people on comp.os.ms-windows.apps.financial
have complained about file corruption after Year-End Archive etc.
You might want to make a safe backup (or two) before trying it.
Also, you might want to look at http://www.defaria.com/Quicken/
- --
Regards
Shankar Prasad
sprasad@eng.sun.com
------------------------------
Date: Mon, 19 Jan 1998 11:26:43 -0500 (EST)
From: Shankar.Prasad@Eng.Sun.COM (Shankar Prasad)
Subject: Re: quicken & mutual fund returns
>
> I've noticed many postings regarding Quicken, and since they now only
> give support through a 900 number for v6 for Windows, I thought maybe a
> reader could help. Q6 sees any reinvestment from dividends (or other
> gains) as ADDED money i.e. I buy $10K of a fund, and to simplify, lets
> say the fund goes up 20% and distributes it all as a dividend. I post my
> $2K dividend as an automatic reinvestment. A (very) little math shows
> I've made 20%. But Q6 says I have invested $12k (apparently ignoring the
> fact that the $2k came FROM the fund), and the value of my investment is
> $12K so my return is ZERO! I can trick it by adding shares at no cost,
> but then I have no record of my reinvestment cost for tax purposes. Has
> anyone noticed this, or am I doing something wrong??
The reason Q6 says that you have invested 12K is because, for tax
purposes, that is what you have done. 12K is your "tax basis" for
that fund. The ROI column in the Portfolio View shows the gain over
the tax basis, i.e. the potential taxable gain. It does not show the
return which we normally think of. The return we normally care about
is called IRR (Internal Rate of Return). You can get this number for
your mutual fund by using the Investment-Performance-Graph in Q6.
The transactions must be entered as a ReinvDiv of the appropriate
amount at the appropriate price (i.e. the trick of adding share at no
cost should not be done). Quicken does things this way to keep track
of the tax basis etc correctly for the future when the MF might be
sold. The only misleading thing is the title of the column ROI
- - it should be more appropriately called "unrealized gain" or
something like that.
- --
Regards
Shankar Prasad
sprasad@eng.sun.com
------------------------------
Date: Mon, 19 Jan 1998 11:27:41 -0500 (EST)
From: Ricky_Hatch@notes.pw.com
Subject: Re: Great Phone Rates for Military
If you or any member of your immediate family has been in the military, you are
eligible to become a member of USAA, who has (above and beyond great life &
auto insurance) an agreement with Sprint that gives you 10 cents a minute any
time any day, and then gives you a 7 1/2 percent discount above & beyond that.
It's the best I've seen so far. You should call each of the biggies (MCI,
AT&T, & Sprint) & ask them to beat that rate. They'll certainly try.
Ricky Hatch
La Verne, CA
(The small-town city where Christian Slater CHOSE to spend his jail time! Now
isn't that a compliment!)
------------------------------
Date: Mon, 19 Jan 1998 11:28:21 -0500 (EST)
From: Shankar.Prasad@Eng.Sun.COM (Shankar Prasad)
Subject: Re: Income Tax Web Site?
>
> Is there a site on line, or can someone send me the list that
> shows what tax bracket you are in? You know, you make so much so you are
> in the 15%, etc...
Go to http://www.irs.ustreas.gov, "forms/publications" and download the
"1997 Inst 1040 Instructions for Form 1040". The 1040 form has the
tax tables and the tax rate schedule. I don't know if there is any
other easier site.
- --
Regards
Shankar Prasad
sprasad@eng.sun.com
------------------------------
Date: Mon, 19 Jan 1998 11:29:32 -0500 (EST)
From: Bob Hartwig <rph1@mindspring.com>
Subject: Re: Mellon Mortgage; Re: Home Construction
MELLON:
Mellon bought my mortgage from my previous mortage holder which was
American Home Funding. I never had a problem with Mellon. The only hassle
I had was that I had to reestablish the auto-deduct from my checking
account. I also didn't find it as easy to navigate their telephone system
for information on my mortgage.
MODULAR HOMES:
We've built 2 home in the last 5 years. One was "stick" built in Broward
County, FL, the other was modular in Westchester County, NY. Other than
the usual foul-ups and inevitable delays associated with builders,
inspections, etc., I had no problem with either (structurally speaking).
I lived in both the houses and did not rent them.
One disadvantage with the modulars is that you have less flexibility with
respect to options. Ours came in 4 big pieces (2200 sf home, 2-story, 4BR,
2.5 baths) which were set on a foundation (with basement). All the
cabinetry, plumbing, fixtures, etc. were in it. Making changes is costly.
We wanted CAC, but since the heat was hot water baseboards, this was not
feasible (another $7500 for the ductwork, etc.) In my opinion, modulars
also tend to be somewhat less interesting architecturally--more boxy.
Nevetheless, going modular helped us afford a brand new home in an area
that has a lot of overpriced older homes.
------------------------------
Date: Mon, 19 Jan 1998 11:29:55 -0500 (EST)
From: "Brian O'Rourke" <borourke@strategies-u.com>
Subject: Catastrophic Health Care Coverage?
I recently discovered that my 47-year old sister does not have health
insurance. Can anyone give me an estimate of how much a no-frills,
high-deductible, catastrophic health-care policy would cost per month? She
is a non-smoker. Any web site suggestions would also be appreciated.
------------------------------
Date: Mon, 19 Jan 1998 11:30:37 -0500 (EST)
From: Jason Kaufman <JHK@copper-mt.com>
Subject: RE: Fee Simple?
Fee Simple: the absolute ownership of real property. The owner is
entitled to the entire property with unconditional power of disposition
during his/her life, and upon the death of the owner, the property goes
to the heirs. AKA Fee Absolute, Fee Simple Absolute.
The only time that this can be overridden is when eminent domain exists
(this is known as condemnation).
------------------------------
Date: Mon, 19 Jan 1998 11:31:32 -0500 (EST)
From: Jason Kaufman <JHK@copper-mt.com>
Subject: Re: Investment for baby?
[Jason Kaufman] Any mutual fund company will set up a trust (aka UGMA,
or Uniform Gift to Minor Act) for a kid. There are a lot of funds out
there that will begin with a $25 to $50 a month investment from a
checking or savings account. There are some states that have funds set
up to pay a certain amount over time in return for a 4 year education
at any state school. If you need more feel free to e-mail me.
Jason H. Kaufman
Copper Mountain Trust Corporation
Portland, Oregon 97204
E-mail: JHK@copper-mt.com
Company Web Page: http://www.copper-mt.com
------------------------------
Date: Mon, 19 Jan 1998 11:32:19 -0500 (EST)
From: Jason Kaufman <JHK@copper-mt.com>
Subject: Re: CD for 10 yrs..
Right now this may be a great deal, but in 10 years,
who knows what rates will be like? Also, 10 years from now you will be
72...how long do you think you will live? If it is 20 more years, might
an investment in the market be okay for some of your money? If you
invest part CD/part stocks or mutual funds, 10 years or even 20 years is
enough time to go thru the ups and downs of the market.
------------------------------
Date: Mon, 19 Jan 1998 11:33:13 -0500 (EST)
From: elaine steward <esslady@ix.netcom.com>
Subject: Fee simple?
In California, it means you own the land (probably not the mineral
rights) as opposed to leasing it (it would then say "land lease")
------------------------------
Date: Mon, 19 Jan 1998 11:34:15 -0500 (EST)
From: "John S. Rullo" <jsrullo@enteract.com>
Subject: Re: Quicken - Where is their accountability?
I would just like to add in my 2 cents worth if I may.
Companies like Intuit and Microsoft are churning out nothing but entry
level software. This is software that satisfies the average consumer and
gets them started on their projects quickly. Unfortunately this kind of
software runs out of steam just as quickly and this is evident from the
posts concerning Quicken.
I believe "accountability" should start with the consumer. Unfortunately
I know some who plug in their computers, grab the mouse and not very
long afterwards are saying "Look honey, I have mail !". Computers are
expensive, so I believe they did take the time to make sure the computer
was right for them now and in the future but thats where it stopped. The
bundled software that came with the computer was quickly available and
free for the most part. This is where companys like Intuit and Microsoft
cash in.
Recently I purchased a piece of hardware bundled with a limited edition
of Adobe software. I used it and bought another product of theirs,
PhotoDeluxe 2.0, and found out the hard way that the only browser it
supports is Internet Explorer. I do not need this capability so I do not
really care, but I will probably never buy another Adobe product until
they change their attitudes.
I was introduced to Quicken just the same way I believe many others
were, it was bundled with the computer. I was into a lot of different
things at this time like mutual funds, individual stocks, and of course
there was my checkbook. I found out very quickly that Quicken wasn,t for
me and have never really used it.
I tried out a full blown version of Microsoft Money I received in a
software promotion and it also fell short of my expectations. My wife
knew somebody who swore by spreadsheets and suggested I look into them.
Well to make a long story longer, I purchased Corel's Quattro Pro 7 and
have never looked back, At first I was overwhelmed with the complexity
that I was confronted with but I took things slow and created small
projects that I found useful for day to day financial stuff. Now after a
year I crank out spreadsheets while watching TV at night.
The power of spreadsheets is amazing. A company like Intuit would have
to turn out enhancements to Quicken at the rate of one a week to keep up
with me and my spreadsheets and I don't believe I use more than 50% of
the capabilities that are in Quattro Pro. When I trade on the stock
market I have a group of spreadsheets in front of me so I can quickly
calculate selling and buying scenerios. When a trade is completed I can
enter it in seconds and know exactly what my next move should be.
Software with these kind of capabilities is very expensive, and never
really does everything you want it to do.
Just giving you free thinkers out there something else to think about.
Some of you might even find better ways to accomplish your tasks. The
down side is starting over if you have started already and the up side
is never having to wait a year for the lame sofware upgrades offered by
companies like Microsoft and Intuit. An extra added bonus is that you'll
have fun in the process and feel good about your accomplishments.
PS, I bought a spreadsheet package that had nothing to do with Microsoft
because I do not like their selling tactics. See, already they are
starting to pay for their ruthless ways, we do not need government
intervention to make them see the light, it will show up in their
profits, something they fear more than the government it seems.
Thanks for listening, John
------------------------------
Date: Mon, 19 Jan 1998 11:34:53 -0500 (EST)
From: BobWo <BobWo@aol.com>
Subject: $.10 a Minute
Stewart Hull recently wrote the following, "Who currently offers the best
long-distance telephone rates? I'd like to get $0.10/min at all times with
no monthly fee. Is this possible? Can that be beat?"
Excel offers $0.10 a minute anytime with a $1.00 fee*. Call Excel at
1-800-251-6166 and ask for "Excel's 10 Cents a Minute Plan".
*Eceptions: Just so you know, there are a couple of exceptions to the 10 cent
rate...the plan is NOT applicable in Florida, Noth Carolina, and Texas where
the interstate rate is $0.12 a minute, and in maine where the rate is $0.30
a minute; calls between Alaska and Hawaii are $0.705; calls originating
or terminating in Hawaii or Alaska are $0.25 a minute.
------------------------------
Date: Mon, 19 Jan 1998 11:35:14 -0500 (EST)
From: BobWo <BobWo@aol.com>
Subject: Turnover?
Could someone please tell me how to calculate the turnover percent or
ratio on a portfolio of common stocks.
------------------------------
Date: Mon, 19 Jan 1998 11:35:37 -0500 (EST)
From: Ken Stone <krstone@mindspring.com>
Subject: Deductibility Of Charity Auction?
I went to a charity auction in which goods and services were donated to a
non-profit school and then sold to the highest bidder. All proceeds of the
sale went directly to the school. I purchased a week at someone's vacation
home in the Caribbean. I paid $800 and the market value would have been
about $2000. Can I use all or part of the $800 as a charitable deduction?
Thanks,
Ken Stone
------------------------------
Date: Mon, 19 Jan 1998 11:36:22 -0500 (EST)
From: Tor Neilands <IceT@mail.utexas.edu>
Subject: Re: Buying unimproved property
>> Now, a completely different topic: does anyone know of
>> any good books about buying unimproved land?
>>
>> I'm thinking about buying a few acres and eventually
>> putting a house on it, and am wondering what the common
>> pitfalls are.
I came into this thread late, so please pardon the bandwidth if this text
has been mentioned already.
Finding and buying your place in the country by Les Scher.
Try to find the latest edition, if possible (I believe there are at least
two, possibly three editions).
Good luck,
TBN
Tor Neilands, Ph.D.
Statistical Services/TeamWeb
Academic Computing and Instuctional
Technology Services (ACITS)
E-mail: t.neilands@cc.utexas.edu
WWW: http://uts.cc.utexas.edu/~neilands/
Quick quote: Don't let the statistical tail wag the conceptual dog
------------------------------
Date: Mon, 19 Jan 1998 11:37:06 -0500 (EST)
From: varsh <varsh@concentric.net>
Subject: Re: Quicken and capital gains time periods?
> if Quicken has been (or will be) updated to include the
>new three time-periods of capital gains?
It seems that Quicken98(R2) - first bug-fix release - is up to date.
- -Boris
Dover,NH
------------------------------
Date: Mon, 19 Jan 1998 11:37:34 -0500 (EST)
From: Avrum Lapin <avrum113@cyberg8t.com>
Subject: Re: Question about buying tax liens as investments
>Ted Thomas is the author
Several comments.
I recall reading recently about a case where the "buyer" of the
lien (somewhere in San Bernardino County) took possession and then found
out that what he had bought was the non contigous small remains of a lot
whose center portions had been obtained by the government in an
intersection improvement program using some form of condemnation or
expropriation. The small remains were useless (too small to build on. The
county's view of it was tough luck - if you were stupid enough not to look
before buying then you deserved to get taken. If there is a property of
any value it will almost cetainly be claimed by the owner or lender.
I am afraid that Ted Thomas is in the business of selling books and tapes.
Avrum Lapin
Upland., CA
------------------------------
Date: Mon, 19 Jan 1998 11:38:25 -0500 (EST)
From: "Bill Jones" <vwjones@erols.com>
Subject: Roth IRA income limits
I need to correct the note I sent earlier. The income limits for converting
to a Roth are described at www.irs.gov/hot/tax-law.html, but the legislation
itself is not there. That is at www.rothira.com/statute.htm (click towards
the bottom on "Statutory Language").
It says quite clearly that marrieds filing separately cannot convert. To
quote 408A(C)(3)(B):
B) ROLLOVER FROM IRA- A taxpayer shall not be allowed to make a qualified
rollover contribution to a Roth IRA from an individual retirement plan other
than a Roth IRA during any taxable year if--
(i) the taxpayer's adjusted gross income for such taxable year exceeds
$100,000, or
(ii) the taxpayer is a married individual filing a separate return.
Bill Jones
------------------------------
Date: Mon, 19 Jan 1998 11:39:01 -0500 (EST)
From: Fred Schiff <fschiff@banet.net>
Subject: re: CD for 10 yrs..
>Discover is offerring 6.74% for 10 yrs on their CDs. I am retiring next year
>at 62 and looking for income, would this be good deal?
Surrrrrrre........then you won't have *any* income for 10 yrs.
CDs are the same as cash for all intents and purpose. They're just
less liquid. They are *not* investments.
If you want debt instruments to provide income, you generally set up
a bond ladder, so they throw off income every month or quarter to live on.
Equities (Stocks or stock mutual funds) provide better income, cause they
have higher growth rates that can keep up with inflation.
Check out http://www.better-investing.org the site of the NAIC
the organization for investment clubs.
Fred Schiff (fschiff@banet.net)
------------------------------
Date: Mon, 19 Jan 1998 11:39:52 -0500 (EST)
From: Elizabeth Kennard <kennard.3@osu.edu>
Subject: best phone deals
I got an offer for 10 cents/ minute from Sprint so I called AT &T, my
current provider, and explained the offer and asked for them to match it.
They did. I have this for 6 months, all day every day. I had to get to a
supervisor though. It was called something like the "win them back rate"
------------------------------
End of persfin-digest V4 #119
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