Archive for April, 2018

    What to Know About Opening a New Checking Account

    Written by Finance Video. Posted in Application for bank account ct, Mobile internet banking, Online banking

    Most people have a checking account that they use regularly, but occasionally a situation arises where it seems like a good time to open one at a different bank. This might have to do with closing one account to move everything to another one, or it might be because you have reason to think that having multiple checking accounts open at once in a good idea for you.

    Some people like to open multiple checking accounts so that they can save money without being tempted to touch it. It’s also possible to open a savings account to partner with your checking account, but that money is visible and accessible. Some people find it better to have the money go into a different account where they won’t even see it, and therefore are less likely to spend it prematurely. Do know, however, that checking accounts are not accruing interest the same way that savings accounts are. Just something to keep in mind when you’re thinking about the different types of accounts that you could be using.

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    Surging Tech Stocks Lead In Market Cap

    Written by Finance Video. Posted in Uncategorized

    In one of the strongest signs yet of the long-term effects of the economic recovery, for the first time since 1974, the world’s five largest corporations by market capitalization are both US-based and all in the same sector.

    While the last two years have been particularly bullish for tech stocks, the broader-market slowdown combined with continued growth in the internet sector have shifted the focus away from the traditional market titans, energy and heavy industry. This change reflects the shift in the employment market as well, with the smallest share of American labor involved in manufacturing since pre-industrial times.

    The five largest companies, as of the close of trading today, are Apple (AAPL +32.7% YTD), Alphabet (GOOGL +25.7%), Microsoft (MSFT +13.3%), Amazon (AMZN +32.9%) and Facebook (FB +32.4%), all of which easily outperformed the S&P 500 index (SPY +8.1%).

    Amazon’s ascendance to fourth place globally in market capitalization is even more shocking considering that for the first twenty years, Amazon ran at a loss, although with such large, and exponentially growing, revenue and market share that investors continued to believe in its sustainability and continued growth, even before two consecutive profitable years sent its stock into the stratosphere, wish share prices reaching an intraday high over $1000 today.

    Is there any reason to believe tech stocks will continue to grow? Are silicon chips the new blue chips, or are we headed for a new dot-com bubble? Or perhaps neither in particular, just a continued reign at the top, without too much additional return for investors just buying in now?

    At least for now, signs point against a bubble. While 1999’s dot-com stocks were fueled by speculation, to the point that nearly any NASDAQ IPO with “.com” in its name would be guaranteed quick returns, this year’s tech titans are all established corporations, with Facebook being the newest addition, traded publicly since 2012 (but established in 2004), and Apple and Microsoft, at the other extreme, already 41 years old.

    Growth is, of course, much harder to predict. Conventional wisdom would suggest that, just by cornering market share, the potential for growth is nearly complete. Apple and Microsoft together provide operating systems for over 97% of computers; Apple and Google account for 99% of smartphones, through iOS and Android. Google and Microsoft (Bing) combine for over 90% of the search engine market, and Google and Facebook together add up to 83% of the web’s display advertising market.

    Amazon has one of the few sectors with room for growth; despite their titanic revenue stream, and already massive logistics network, only 41% of online shopping in the US takes place through Amazon.com; both new and established retailers might eventually be under economic pressure to integrate with Amazon, both for readier access to consumers as Amazon becomes an A-to-Z one-stop shop for just about everything that can be bought, and to take advantage of the servers and logistical advantages a company the size of Amazon could provide.

    Every bull needs a bear, though, and there is just as much of a downward pressure toward Amazon: their business model has previously relied on undercutting smaller retailers on price, which does necessarily limit profitability. However, market saturation hasn’t been an obstacle for any of the other four tech winners, so there’s no reason to think Amazon would be held to a different standard.

    Whichever of these stocks you choose to invest in, if any, it’s important to realize that the largest-cap stocks have changed, and there are more options out there than just the Dow 30. michael kors handtasche michael kors handtasche michael kors handtasche

    Help! I Got An Extra Tax Refund!

    Written by Finance Video. Posted in Uncategorized

    So you haven’t even filed your taxes yet and you got a refund from the IRS. Free money, right? Not to mention the time you just saved gathering all the paperwork, going to your financial advisor or accountant, and filing your 1040.

    Unfortunately, nothing with the IRS is ever that easy. It may be an actual government error (in which case you are liable for the money if and when the correction shows up), or you may have just become an unwitting participant in the latest tax scam.

    In this particular fraud, all the scammer needs is your name, address, and optionally social security number, to file a federal tax return on your behalf, with a hefty refund. Of course, the deception doesn’t end there. All the fraudster will have done so far is get a check sent to you.

    This is where things get interesting. The scammer needs to find a way to get your money — and it is your money, the IRS won’t take the hit — once you have the check. They will often do this with increasingly threatening letters and phone calls, sometimes acting as (fake) representatives of the IRS, and sometimes posing as lawyers or law enforcement, to get you to surrender some or all of your “refund” to the scammer.

    In one case, the perpetrators even acted as pretend financial advisors, “helping” people through the situation and “filing” honest returns for a percentage of the extra refund. In this particular case, the new returns created more havoc, causing the IRS to collect back the false refunds, and leaving the victims owing more than ever.

    So what should you do if this happens to you? First and foremost, DO NOT CASH THE CHECK! Instead, void the check and send it back to the IRS. If it shows up in your bank account by direct deposit, tell your bank it is an error. Then, consult with a trusted financial adviser to maximize your real tax refund. It might take a bit longer, and the check might not be quite as spectacular, but this way you can rest assured your refund money is actually yours to spend! canada goose kinder canada goose kinder canada goose kinder