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What else can I help you with?
Can fees paid to a broker be classified as investment interest expenses?
No. Broker Fees are investment expenses but are not investment interest expenses.
Are broker fees taxable?
Yes, broker fees are generally considered taxable income. When a broker receives fees for their services, those fees are typically subject to income tax. Additionally, if the broker operates as a business, they may also have to pay self-employment taxes on this income. It's advisable for brokers to consult a tax professional to ensure compliance with tax laws.
Is it legal to collect a finders fee from a mortgage broker?
Yes, you can collect a finders fee from a mortgage broker. Gifts and money are exchanged in this situation all the time.
What fees should I be aware of when hiring a broker to manage my investment portfolios?
The most important thing to be aware of when looking for a new broker is the rate of return on his investments for other clients. If he won't tell you, run the other way! Before hiring a broker, you should be aware of a plethora of fees. Many of these fees are hidden and should be looked into. Some of these fees include hidden charges that take a certain percentage of the interest you make on a stock. Other fees include redemption fees, exchange fees, account fees, and purchase fees.
What does broker fee mean?
A broker fee is a charge paid to a broker for their services in facilitating a transaction, such as real estate, investments, or loans. This fee compensates the broker for their expertise, time, and resources in connecting buyers and sellers or negotiating deals. Broker fees can vary widely depending on the industry, the complexity of the transaction, and the specific agreement between the broker and the client. It's important for clients to understand these fees upfront to avoid unexpected costs.
What are some fees associated with Canadian bonds?
The biggest and most common fee associated with Canadian bonds is a broker fee. This is a fee payed to the broker who manages the money. Buying bonds on your own usually has no fees.
Is it legal to charge a broker's fee and collect commission?
Brokers man charge a broker fee and collect commission but they must have you sign a disclosure that they are making money both ways. It isn't uncommon to be charged a broker fee if your total annual premiums are below $5,000 or if your broker is providing additional services like risk management, safety, 50+ certs, etc.
Where can one find an affordable mortgage broker?
You can contact boards of Realtors in your area for a current list of mortgage brokers. You can find out how many lending institutions each broker works with and what the fees are for each broker.
Can a collection agency collect late fees interest?
No.
Why is it necessary to use a broker to make a trade?
Trade implementation fees are vital, but there are other brokerage fees to consider ... at the fees that might apply to you is indispensable to ensure that. Almost the whole thing you have is appeal something to someone. This conduct explains how to use business trade brokers to get the most for your pillage.So that's why we need to a broker.
What should the closing cost be on a 500K mortgage with no money down?
1.5% 1% If you negotiate with your mortgage broker It all depends on what type of mortgage you go into... General rule of thumb 2% of loan amount plus you have title charges, inspection charges, notary fees, appraisal fees, wire fees, etc. All these fees are disclosed in the Good Faith Estimate. If you have any questions contact your local mortgage company. Ok., from experience then: A recent deal I did included 3 properties valued at 700K. The first (blanket) mtg came in @ 440K and after shopping around I negotiated a 1% fee with my mortgage broker. Period. The actual answer is, it depends on your state. Title fees, appraisal, and sometimes tax stamps can vary from county to county and state to state. The best way to save on Origination fees and broker fees is not to use a broker...deal with the lender direct.
When buying stock will I get a better return, taking fees into account, with a full service broker or doing my own trades on line?
Working with a Stock Broker is a smart move they have the knowledge and expertise of the industry. As an individual you may not understand all the lingo or the stock market in general even including the fees typically using a Stock Broker will net the most return they will protect your intrest.
