December 8th, 2008
For example, if I used a
cash advance to
1. buy stocks,
2. invest in bonds/fixed income assets
3. “refi” my personal mortgage
4. buy investment property
or any other situations where credit card interest is tax deductible?
Thanks for all you responses. Just to clarify -
Say I borrow $100 from my credit card at 10%.
I owe $110 at the end of the year.
I put this same $100 into a stock (or some other investment). It goes to $120 and I sell, gaining $20.
1. Do I have to pay taxes on $20, or $10 ($20 gain minus $10 interest)?
2. If I didn’t sell, can I deduct the $10 interest against my other income?
Tags: Bonds, Credit Card Interest, Interest Tax, Money Investments, Stock
Posted in Credit Card Interest | 7 Comments »
December 8th, 2008
I had my card number stolen and it was used for almost 2000.00 of product at Chico’s in
Las Vegas. Washintonton Mutual is telling me now that they did not receive my
claim forms in time, that they closed the claim and that its over. I need to know what is the time frame in which I can hope for help from
Mastercard. What are my other options? To sue the vendor? Or am I just out thousands now?
Tags: Chico, Claim Forms, Fraud, Las Vegas, Mastercard
Posted in Credit Card | 1 Comment »
December 8th, 2008
I need to re-establish my credit; where can I get a good
credit card that is unsecured and you don’t have to pay to get?
Tags: Bad Credit, Establish Credit, Reestablish Credit, Unsecured Credit Card
Posted in Unsecured Credit Card | 6 Comments »
