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What else can I help you with?
Why is a CD better then a savings account?
Because they earn a higher interest rate than savings accounts. The interest on CD's is atleast 2-3% higher than savings accounts. On the downside, the money in your CD is not as liquid as your savings account and your bank may charge you a penalty if you withdraw the money before maturity date.
What is also known as a CD from economics?
Certificate of Deposit, a deposit at a financial institution that offers a higher interest rate than their usual accounts but requiring a commitment of a defined period of time. Withdrawal before this time is complete will impose a penalty. Thus a CD is a nonliquid investment.
What stance does the European Union take on the death penalty?
No country which still has the death penalty for any crime is allowed to join the European Union. So I don't think they like it.
What is the penalty for landing on income tax in monopoly?
you pay 200$
How much is federal tax?
No two people pay the same tax, even with the same "earnings". And, considering all the major businesses, with hundreds if not thousands of stores, and other independents, and yet more services, - and all the software that is sold every year...all to help people determine how much tax is due...does it even make sense to ask how much is due on X $? Don't you get the feeling there has to be much more to it than that? And of course, the amount you "owe' depends on how much you've already paid. And if you didn't have enough paid in, you likely owe penalty and interest too. The tax paid depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax. The amount of tax withheld or eventually paid also depends on many other things...obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions - like interest paid on a home. Or medical expenses. Or business expenses. Or, or, or. All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold...but overall they make only a small difference. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances.
How does penalty interest calculated?
Penalty interest is calculated from the required and projected balance
If a loan has a pre payment penalty attached would it still be viable to retire it?
It depends. One has to look at what the interest rate is, the amount of the term remaining, the amount of the prepayment penalty and the cost of the source of funds to pay it off. There is no one correct answer, sorry.
Is a prepayment penalty on a home loan tax deductible?
No the penalty is not deductible on a home loan. Only the interest that is paid. The penalty is considered as a late payment not interest. good luck.The initial answer to this question is incorrect. Prepayment penalties are sometimes deductible if the payment is made out of pocket as opposed to being rolled over into the new loan. It is not ever considered to be a late payment. It is considred interest. Even if the amount is rolled over into a new loan, you may be able to pro rate the deduction over the term of the loan. The bottom line is that depending on your particular circumstances, the prepayment penalty might be deductible.PLEASE consult a tax consultant for the most up to date 2008 tax information. and also PLEASE remember that on the internet, never ever take the advice of one so-called expert. check. check and double check everything.Here is the info directly from the IRS.http://www.irs.gov/publications/p936/ar02.html#d0e770Mortgage prepayment penalty. If you pay off your home mortgage early, you may have to pay a penalty. You can deduct that penalty as home mortgage interest provided the penalty is not for a specific service performed or cost incurred in connection with your mortgage loan.
Are payment notices issued by Aust national car parks enforceable?
No - you can ignore them till you go to register or sell your car, then they'll be added to cost - along with fines and interest penalty charges.
If you make your house payment later than the first of the month are you paying more interest?
You pay interest on the outstanding loan balance. The longer you have the loan combined with the size of the loan determines how much total interest you pay. When exactly you make a payment is less of a factor. If you make a double payment every month you will be paying a lot less interest over the life of the loan. If you are asking if paying the loan late (after the monthly due date) costs extra then I would suggest you check the loan documents. Most loans have a short grace period and then a penalty. That penalty is not interest so you would not be paying extra interest. The balance of the loan would be higher for more days so you would pay slightly more total interest in addition based on when exactly the loan payment is received. Tip: If you take out a 30 year loan, fixed interest, you can take a full year off the loan if you make 1 extra payment in the 1st month and the extra payment is applied to the outstanding principal owed. You can save what amounts to a year of interest by making 1 extra payment early in the life of the loan. Create a spreadsheet or use a financial calculator if you want to see how the loan changes when you pay down the principal early. Or post a question and get a detailed answer.
What is grace period on credit card payment?
You'd need to check with the credit card company; they are all different. The grace period is some period of time in which you can pay the balance due without accruing interest charges. However, there's typically NO "grace period" on a payment. If you don't have a payment posted on time, you're almost always going to be charged a late payment fee, and often your card's interest rate will be jacked up to the "penalty rate" of 29%.
What are the risks involved with cheap bank loans?
The risk of a cheap bank loan is the possibility of the repayment interest being high or the penalty for missing a payment being very high. You could lose your collateral.
Are residential mortgage pre-payment penalties tax deductible?
I am not 100% certain of the answer, but in most cases we can deduct the interest, but not usually any fees associated with the mortgage. I am assuming you can't deduct it. Consult a tax professional. I have a suggestion for those who are thinking of paying off their mortgage when a prepayment penalty is in place. I used to be in the mortgage business. Suggestion: Prepayment penalties are usually around 5%. So, if you have a balance of $10,000 the prepayment penalty would be $500. There is a very simple answer for avoiding most of the cost of prepayment. In your next payment pay everything but a portion. Leave a balance of $100 or $500. In most cases the prepayment penalty is calculated on the balance. Make your your final payment of $100-$500. This way your penalty will only be a $5-$25 saving you a lot of money. Then the tax issue is really of no consequence.From IRS Publication 936: "Mortgage prepayment penalty.If you pay off your home mortgage early, you may have to pay a penalty. You can deduct that penalty as home mortgage interest provided the penalty is not for a specific service performed or cost incurred in connection with your mortgage loan." I paid a prepayment penalty and my year end interest paid for the loan included the penalty.Hope that helps. Navywings 17:21, 26 May 2008 (UTC)
If a loan has a prepayment penalty attatched to it would it still be viable to retire it?
It would depend on whether the savings gained by "retiring" the loan outweighed the disadvantages posed by the pre-payment penalty. Most loans have pre-payment penalties which expire after a short period of time. On mortgage loans, the typical pre-payment penalty runs 1, 3, or 5 years.
What happens if you paid your taxes late?
A penalty and interest will be charged.
To avoid payment on a debt?
To avoid payment on a debt is referred to default. This will, in most cases, attract more charges as a form of penalty.
In CA how do you perfect a security interest in a mobile home to show you've loaned money to the owner and taken a security interest on the home?
By a written and notarized contract. Specifying the loan amount, the payment schedule, the penalty for default (late and/or missed payments) and the property specified to be used as secured collateral.
