Originally Posted by ChiefGator:
Man, I'm expecting to get around $18k back in my tax refund this year. Crazy.
Was unexpected, and the first time this has happened, due to:
1) First year I paid myself via payroll from my IT company, so I prepaid taxes on that, and I didn't realize payroll being an expense would push my company down into the red significantly... since it is a partnership, that is a huge win on my K1.
2) First year I have had significant mortgage interest to deduct.
3) First year of a farm business with HUGE start-up costs, so a nice win on my schedule F1.
4) Still have my high paying day job, which is where I paid all the taxes from to start with.
Hey man. Don’t file yet. Let me get home and I’ll PM you. [Reply]
Originally Posted by Hammock Parties:
IQ: brief dip and then back up again today...me rikey
News for China has been good of late. Tax cuts. YY/Huya reported last night and were up 13 and 20%. Tencent was up 5 percent or so today. A lot of those are really beat up assets from the last year.
It seems fidelity and Schwab doubled their free trade ETFs up to 500 or so. Schwab has some ishares ETFs now. I was looking through the list the other night. [Reply]
So I got an email stating that I'm eligible for a short term period of 9.9% interest on my Chase SWA Rewards card. And just now I was reminded that I activated a 15% 'bonus' rewards on rewards points earned via the Chase SWA Rapid Rewards card.
The fine print that I failed to notice initially on this bonus offer is that you need a minimum of 15,000 points posted to your account solely from the credit card during the bonus period. Could be reckoning incorrectly here, but the cheapest way you could do that would be by spending $7,500 on Southwest Airlines bookings or bookings through their affiliates.
The low rate enticement + this bonus with a high hurdle to meet makes me think $JPM has a cash flow issue on their 6-12 month horizon.. [Reply]
Originally Posted by Great Expectations:
With the prime rate increasing the credit card companies have seen increased earnings. Most of the cards have a very high rate tied to prime.
I mean yes but it seems to me they're trying to up their card holder's balances which feels like they're looking for "free" cash (for want of a better term) in a relatively small window. [Reply]
Originally Posted by Discuss Thrower:
I mean yes but it seems to me they're trying to up their card holder's balances which feels like they're looking for "free" cash (for want of a better term) in a relatively small window.
Your theory is that they have a liquidity crunch do they are adding credit card loans? If so, the logic seems flawed to me. If they have a liquidity crunch, they will not aggressively seek loans without securing additional or corresponding funding. [Reply]
Originally Posted by Nightfyre:
Your theory is that they have a liquidity crunch do they are adding credit card loans? If so, the logic seems flawed to me. If they have a liquidity crunch, they will not aggressively seek loans without securing additional or corresponding funding.
Maybe not a simple liquidity crunch but it seems like they're trying to oomph non-mortgage related consumer debt income.
Further, they're targeting people with exisiting accounts and not necessarily increasing the amount of total revolving debt.
I have a notion they're looking for more income without changing their balance sheet as it matters to ensuring their RoE / RoA isn't drastically impacted as it pertains to Federal regs... if those even matter I guess since they're so fucking big. [Reply]
It might be a new model for them. A lot of them have stopped offering 12 months interest free as people have been taking advantage of the offer then switching to a new 12 month interest free card 12 months later. [Reply]
