Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #141
Date: Mon, 30 Mar 1998 19:08:55 -0500 (EST)
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persfin-digest Monday, March 30 1998 Volume 04 : Number 141
IN THIS ISSUE:
ADVERTISEMENT: LAN ACCESS TO MCI MAIL
Error in My Discount Broker Article URL
Discount brokers
Re: Schwab's math - They Want to Scare You
$0 NASDAQ Trading Commission - There *Is* Such a Broker
Tax question and emergency cash question
Taipan?
Federal Taxes on Stock Gift
MCI ld net offer catches
More fun and games from MCI internet offer
Decompression software for the Mac to read Persfin?
Credit Card Rental Card Insurance Coverage?
====================================================================
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The Editor *strongly* suggests that you post your questions on our
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mentioned in posts are live.
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(Open 24 hours a day, 7 days a week.)
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Associates, Inc. or Persfin-Digest. You're on your own.
This issue is sponsored by:
Oppenheimer Software - An Official MCI Messaging Agency. Features:
MCI Fax Broadcasting Service
MCI Fax Reply Service
MCI Connect for cc:Mail
MCI AutoForward
internetMCI
Lan Access to MCI
Telephone: 800-390-9379
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The new HP360LX palmtops (Windows CE 2.0 and 8MB RAM) can be ordered.
Price $550 + shipping.
Specialists in HP320LX palmtops - the hot new HP palmtop that runs
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----------------------------------------------------------------------
Date: Mon, 30 Mar 1998 18:04:41 -0500 (EST)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: LAN ACCESS TO MCI MAIL
LAN Access to MCI Mail
Link your LAN to the Rest of the World
Global Accessability
Toll Free Access.... No Need for Data Lines
Secure:Helps Keep Hackers Out of Your Network
Ideal for MultiOffice & Dispersed User Applications
Supports cc:Mail, MS-Mail, Groupwise, VINES, MHS,X.400
Includes:
Internet E-Mail
Internet Vanity Domain Name Option Available
X.400 E-Mail (Secure, Private, Trackable e-mail)
Fax Delivery (Alternate Delivery Option Included)
Telex, Pager and Postal/Courier Hardcopy Options
Oppenheimer Software Authorized MCI Messaging Agency
Tel:800-390-9379 E-Mail:Connect-Sales@mcimail.com
Fax:800-492-6862
------------------------------
Date: Mon, 30 Mar 1998 18:06:29 -0500 (EST)
From: The Editor <ikrakow@shore.net>
Subject: Error in My Discount Broker Article URL
I made a mistake in posting the URL of my article comparing discount
brokers. It's
http://pfinance.miningco.com/library/weekly/aa032798.htm
You can also access it by going to:
http://pfinance.mininco.com
and following the link to the article.
Sorry for any confusion. Enjoy the article.
Ira
------------------------------
Date: Mon, 30 Mar 1998 18:13:28 -0500 (EST)
From: powellfamily <powellfamily@tri-countynet.net>
Subject: Discount brokers
I was viewing the conversation on discount brokers. These guys all seem
to be seasoned investors that trade often. What if you are just
learning and getting into trading? What type of brokerage account would
you get started with if you probably won't trade that often?
Sherri
------------------------------
Date: Mon, 30 Mar 1998 18:14:37 -0500 (EST)
From: Sue Caskey <scaskey@fast.net>
Subject: Re: Schwab's math - They Want to Scare You
Re: ridiculous calculations for future expenses:
Schwab's math is off, because they have a vested
interest in generating financial FEAR and insecurity in
the reader - as do many financial services (and writers)
these days -
Sue Caskey
scaskey@fast.net
------------------------------
Date: Mon, 30 Mar 1998 18:15:43 -0500 (EST)
From: dmak@tma-net.org
Subject: $0 NASDAQ Trading Commission - There *Is* Such a Broker
FYI, there is a broker offering $0 (ZERO) commission for NASDAQ
trades of 1,000 shares or more. Here's an excerpt from Web Street
Securities' website:
Any size stock trade over $2.00 a share is $14.95 per Online trade.
We go one step further by offering NASDAQ trades of 1,000+ shares,
trading over $2.00, absolutely free.
------------------------------
Date: Mon, 30 Mar 1998 18:18:41 -0500 (EST)
From: JBednarzyk <JBednarzyk@aol.com>
Subject: Tax question and emergency cash question
Hello fellow perfiners -
I have two tax related questions and one 'emergency cash' question:
1. My sister filed bankruptcy last year and listed $ that she owed to me
on her papers. Someone at work mentioned that declaring a bad debt would
increase my chances of being audited. Opinions? Other than that, my
return will be pretty darn vanilla this year. I do have a copy of the
court papers, and the amount is only $800. I was thinking of calling the
IRS directly, but would really rather not unless I had to.
2. At my last job, I took part in a stock purchase plan at a 15%
discount. Since I was going through payroll deductions, I was purchasing
partial shares.
When I quit, I rec'd a letter stating that they would redeem my partial
share for no cost. I agreed, then I rec'd a tax form (1099-B) in the
amount of $12.42. I believe this represents my profit on the sale. How
should I figure this?
I think it's a short term gain, but how do I figure out what was sold
since every month I bought partial shares? I was doing this for less
than a year. Rather than diddle around with this and fill out Schedule D
(I think), can I just tell them to take all $12.42? It would be worth it
to me....
3. I'm an IS consultant and I started sub-contracting in January. The
market for my skill set is very hot right now and should be for the next
2-5 years (depending on who you talk to). After paying off my bills, I
decided to buy a house - I close at the end of May. My first step is
getting together a large rainy day fund in my money market, then branch
out into non-retirement investing (for the first time).
Being a Nervous Nellie, with a slight case of the bag-lady syndrome, my
main goal is to have 6-12 months of mortgage pmts put aside so that no
matter what, I won't risk losing my house should the employment market
take a nose dive.
I was leaning towards keeping it in my money market, but what would the
pros and cons be of making additional coupon pmts instead? So rather than
sending in 1 pmt in a month, I'd send in a payment every two - three weeks
until I was paid ahead by 6-12 months. Again - it's not so much a
reduction in principal I'm concerned with but a hedge against unemployment
- - mortgage pmt stress.
I'll have a 30 fixed at 6.875%, versus keeping the $ in a tax free muni
money mkt acct paying 3.8 - 4.0%, and am in the 36% bracket. Plus, I plan
on my income dropping significantly in 3 or 4 years (but my house should
still be affordable even at a reduced income).
Thanks for any and all advice!
Juli Bednarzyk jbednarzyk@aol.com
------------------------------
Date: Mon, 30 Mar 1998 18:19:33 -0500 (EST)
From: Don Apodaca <dapodaca@flash.net>
Subject: Taipan?
Has anybody experienced a membership with Taipan? Basically, they claim
to acquire knowledge about stocks/industries before they're hyped up by
the various news sources. This leads to dramatic results - "beat every
major market index 5 years in a row"
What do you think?
------------------------------
Date: Mon, 30 Mar 1998 18:20:21 -0500 (EST)
From: Rick Ankrum <texbiker@gte.net>
Subject: Federal Taxes on Stock Gift
I received a gift of stock from my parents in late December 1997. The
price of the stock on the date of transfer was $41/share. In February I
sold 200 shares for $55/share. How would I figure the federal income tax
on this transaction?
- --
Rick Ankrum
eyes <o> <o> and ears (& &) on the internet
------------------------------
Date: Mon, 30 Mar 1998 18:22:09 -0500 (EST)
From: "David W. Vaughan" <david_vaughan@ibm.net>
Subject: MCI ld net offer catches
Thanks for sharing your MCI experience with us Peter!
>They sent me two phone cards when I specifically told them that I didn't
>want a phone card.
Call 'em up and cancel the cards (if the number gets stolen you could be
on the hook) and then cut them up.
>They also switch you to their instate long distance to their service
which is 25 cents >per minute 7 AM to 6:59 PM M-F.
Have your local phone company switch your (if applicable, local, and)
regional "1+" carrier back to the cheaper one that you had before (ie.,
one can designate one's individual choices for local - where available,
regional and LD carriers and these can all be different) and this should
take care of a good portion of the problem. In my experience, MCI will
have no problems with this (in terms of you continuing to get access to
the 9/5c min interstate LD rate, which is the real attraction of this
MCI offer).
Then if necessary, look for a cheap "dial around" carrier for any
instate LD calls that you make, beyond your regional calling area. (In
case you don't know what your regional area covers, many of the local
Bell carriers' phone books have helpful maps setting this out
graphically). That is, I find that the way to get the cheapest rates in
these rapidly changing phone/net markets is to "cherry-pick" the best
rates for your needs wherever you find them - and on a 1+ or dial around
basis as necessary.
Interestingly, MCI also offers $14.95/month net access - including a
$5/month credit for those who are or become MCI LD customers, on that
page you kindly bookmarked for us - but one can get _3 MONTHS_ at the
$14.95/month rate if one joins MCI's Internet service thru its joint
offer with Yahoo (headlined at the Yahoo site), before haing to sign up
for MCI LD service. MCI apparently has joint promotions with other
companies too. I wonder if these offer even better net access terms for
the same MCI service.
Best! /dwv
------------------------------
Date: Mon, 30 Mar 1998 18:51:34 -0500 (EST)
From: rpalma@msai.mea.com (Peter Palma)
Subject: More fun and games from MCI internet offer
I just got my first online "statement" from
MCI's netsaver phone program (with the 9 cent
interstate long distance rate).
In addition to the poor in state long distance
rate and them sending me phone cards I specifically
asked them NOT to send, I found a charge for
$2.15 for something called a "personal toll free number."
Rather pissed off, I called their customer service to find
out what it was doing on my bill.
After staying on hold for 7 minutes (shorter than usual),
I talked to someone and he told me that it was for my
1-800 number so people could call me without paying for the
call. They gave me this "service" and charged me a fee for it
without ever asking if I wanted it.
I complained loudly. He agreed to cancel the service and take
the fee off my bill.
Then, I checked the customer "service" web site that MCI maintains.
Interesting that at the web site you can add all sorts of neat
services but there's no way to cancel services.
There's also a fee on the bill for $1.07 that's a fee MCI charges
because the local phone company charges them to gain access to the local
lines. MCI says they've been passing this charge to the customer since
January.
I don't remember seeing this charge when I was using AT&T.
Is AT&T doing this as well, now?
Does MCI add this charge for customers who get billed through the
local phone bill?
There's no email address listed at the web site to send questions
or complaints.
I did finally find an email address for them and sent them a several
page letter telling them exactly what I've thought of their
"service" so far. I haven't received a reply yet.
I haven't decided whether they are incompetent or intentionally
trying to take advantage of people.
Right now, I certainly can't recommend the MCI account.
------------------------------
Date: Mon, 30 Mar 1998 18:52:25 -0500 (EST)
From: El3sal <El3sal@aol.com>
Subject: Decompression software for the Mac to read Persfin?
What software do I need to decompress or open the files so I can read the
info sent to me. I have a Mac Performa 475 with a 25 mhz CPU.
El3sal@aol.com
------------------------------
Date: Mon, 30 Mar 1998 18:52:59 -0500 (EST)
From: "Charles A. Wilmot" <cwilmot@azstarnet.com>
Subject: Credit Card Rental Card Insurance Coverage?
Does anyone know of any credit card, be it silver, gold, platinum or
whatever, that provides rental car insurance coverage in excess of 15
consecutive days--which seems to be the standard?
Chuck Wilmot
cwilmot@azstarnet.com
Charles A. Wilmot
cwilmot@azstarnet.com
------------------------------
End of persfin-digest V4 #141
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