Hawked Q&A

Stocks and Taxes; Pay Taxes if Stocks Sold for Loss?

admin — Fri, 30 Jul 2010 15:56:14 +0000

I’m new to online stock trading. I’ll make it simple. Last year I bought $400 worth of stocks. I sold $350 worth. Do I have to pay taxes on the ones I sold even though overall I lost money?
Thank you all for the answers. I should clarify that the net loss was not from sale of any single security. It was mixed. Do I have to separate out the losers, and pay taxes on the winners? HELP

Are Debit Credit Cards Available in Canda?

admin — Fri, 30 Jul 2010 12:58:53 +0000

Im from ontario (windsor to be exact) and looking for a Debit Mastercard or a Visa Debit to buy things online with because most places wont accept interac.
Is there anywhere i can get one here? (a bank name if available)

23 Years Old 30k???

admin — Fri, 30 Jul 2010 07:21:02 +0000

Hi there i am 23 years old and have almost 30K to invest..
i am currently investing in mutual funds. I am looking to further my investments ant returns. I am kind of new to the whole investment game and was wondering if anyone had any information that might help me out in the long run. Eg. type of investments or what to invest in….
Thanks in advance
I am willing to take more risk.. but i would like to do more research before i start taking these risks. I dont want to invest in bonds as the return isnt very high. I continue to add to my investments probably 4 times a year. i want to see them grow as much as possible. I will probably be taking a bit of it out in5 years to put a down payment on a house. other then that i want to keep these investments until i am ready to retire….

Is Anyone Doing the Stated Income Mortgage Loan Anymore?I Want to Buy a home.What’s the Min. Credit Score?

admin — Fri, 30 Jul 2010 01:20:40 +0000

How much down if any? What can I expect for intrest?

What Happens if Someone Didn’t Sign the Receipt When You Use a Credit Card?

admin — Thu, 29 Jul 2010 23:56:15 +0000

when u buy something using your credit card, you always have to sign something. but if that someone didn’t sign. what happens? is it bad? (i know it is, but what’s the consequence)
i have a job and when i was sorting the receipt i noticed someone didn’t sign. i thought will i be fired?

Can You Borrow Against an RRSP?

admin — Thu, 29 Jul 2010 14:55:41 +0000

Say you have a good chunk of money invested in RRSPs and plan to leave it there until you actually retire but need money for a major purchase now.
If you take out your RRSPs now you would be charged at your tax rate (22-29%) which would cut down your retirement savings quite a bit. Would a bank let you get a loan based on the fact you already have the money in the bank but don’t want to withdrawl it?

I would think this would be a good way to get a very low interest loan because the bank would know you have the money to pay them back thus reducing the risk and therefore the rate. Am I talking in circles? Would a bank loan you money when you already have it?

Question About Paying Income Tax Owing to the Canadian Government?

admin — Thu, 29 Jul 2010 14:22:33 +0000

Is it better financially in the end to completely drain your savings to pay off income tax owing to the government, or should you use your line of credit instead? Which would be better financially in the long run?

Thanks!

How Do I Start Trading Stocks?

admin — Thu, 29 Jul 2010 07:55:30 +0000

wanna start investing?

Just Started University and I Want to Start Saving/investing What Should I Do?

admin — Thu, 29 Jul 2010 07:21:14 +0000

Hi,

Every other 4 months I have a coop term (part of my university program) and so after every work I term I want to put away money. I am 18 years old I have 0 expereince with investing and all of that and all of it so confusing!! I will be putting away approximately 5000-7000 after every work term so what would you suggest?

I don’t want to do stocks becuase I am defiantly not experienced enough.

Would you suggest to just keep purchasing GIC’s? mutual funds? If so, which ones?

What would you do in my situation?

Ideally what I want is something I can continually putting money in, not looking to withdraw this money for a long long time.

Thanks!

Are Green Dot Pre-Paid Credit Cards Available in Canada?

admin — Thu, 29 Jul 2010 05:57:11 +0000

As the title states, are they?