About Edward

Edward has been a member since July 16th 2010, and has created 1224 posts from scratch.

Edward's Bio

Hi, My name is Edward Forsythe, I have a passion for helping people achieve enough passive income through investing in the right vehicles to secure their financial future. I will be sharing with you several financial facts to help you make better decisions investment.

Edward's Websites

This Author's Website is http://prophetmaxprofits.com

Edward's Recent Articles

Your Questions About Investment Returns 2010

Richard asks…

How do I split the home owner tax credits with my ex?

I’m getting ready to do my tax return soon and have a question about how much I should get in any home owner tax credit versus how much my ex (who’s on the title) should get.
I purchased a condo with my ex back in ’08. We broke up and she moved out in 2010. (Her decision) (And no, we were never married or legal domestic partners)
I was the one who took all of the financial risk and put all of the $30k down for a down payment. The first two years of the purchase I even paid about 70% of the monthly mortgage due to my higher income (at the time). We are both on the title and for the last few years now have been splitting the monthly mortgage equally even though neither of us lives there anymore. (we rent it out but not enough to cover the whole monthly mortgage payment and HOA)
However, my ex knew ahead of time that her job would be ending at the end of 2012 and warned me that she wouldn’t have money to continue paying into the mortgage because she wanted to go back to school. I assumed that she would look for another job ahead of time because the schooling is online. I I invited her to sign a quit claim deed so that she could painlessly and at no risk to her, remove herself from ownership or responsibility to pay. There is still no equity in this home and she decided not to take herself off the title because she thinks she might make some money on down the road with this property if we sell it or manage to rent it at a profit.. but so far that is not the case. She has not paid anything for the last two months and still wants to split that tax credit 50-50% with me. I feel I am entitled to more of or all of the tax credit as I put all of the money into the down payment with money from my retirement fund and also unfortunately ended up in a higher tax bracket because of the money i took out and took a huge tax penalty hit. It seems like she wants to ride along sharing the same amount of benefit even though our contributions were not 50-50% and we are no longer a couple.
Does anyone have an idea of whether this is fair. My tax person seems to think that I should not give her any of the tax credit. (She isn’t working just going to school and I don’t think she is even trying to look for a job.) I don’t know why she hangs onto the property -even if we were to finally sell it for some kind of profit, I believe I am entitled to get all of my investment back before she gets some return if any.
Any opinions on this? Do you think she should get half the tax credit just for sharing the monthly mortgage although I put all the big money in? What about the fact that she hasn’t contributed anything last two months since starting school? I don’t know if she’ll be able to pay anything in the next few months and I’m having to pay it by myself lately?

PS- I also let her claim the First Time Home Buyer credit because I don’t want to deal with having to pay it back and I didn’t want it. However, this question has nothing to do with the FTHB credit. Just the 2012 tax credits I may be entitled to. Thanks.
excuse me: not “credits”, but tax money back in deductions, etc.

Edward answers:

A quit claim does not remove her responsibility from paying. It takes her off title not the note. You are both legally 50% owners that’s just the way it goes. She needs to pay half and get half. This is why it’s such a bad idea to buy if you aren’t married.

Donald asks…

How does Derek Jeter feel knowing he is hands down the most overpaid shortstop in MLB…?

At least based on his offensive performance & defensive range in 2010. I bet he doesn’t feel the least bit guilty, because of all of his “contributions” to the Yankees and being an ambassador of baseball and all. Doesn’t Hanley Ramirez make like 12 million? I don’t know how much Tulowitzki made this year.

Edward answers:

It has everything to do with “return on investment”. Name one SS that has made more money for his organization than Derek Jeter. You say he’s overpaid. How many millions of tickets and marketing memorabilia has Jeter been responsible for over the course of his 15 year career? No, I don’t think that, I the world of the multi millionaire athlete that Jeter is overpaid.

Obviously we, as fans, cannot comprehend the kind of money these athletes make. What Jeter has helped bring to New York in terms of championships has been well worth the money he has made. Perhaps his latest contract is a reward for that effort. Jeter is a future HOFer. Can the same be said about the others you’ve mentioned?

Ken asks…

How to get free slot play in Las Vegas?

I’m gonna be going to Las Vegas for about 5 days in March 2010, and I was wondering how to get free slot play/coupons/comps in Las Vegas. Do I sign up for each casino’s players club? Do the casinos have coupon books inside? Are there any casinos off the strip that offer any free buffets or free slot play? Could someone tell me the best way to get some freebies in Vegas, thanks.

Edward answers:

Here’s some great tips:

First of all BUY a copy of the American Casino Guide 2010 edition – it’s like 13 bucks on Amazon and it includes a ton of match plays, free slot play and show tickets when you sign up for various cards, coupons for double points for slot machines at several casinos and a bunch of food deals like buy one get one free coupons for buffets and various restaurants and free drink coupons.

I go to vegas 3 or 4 times a year and I’ve bought the book the last 3 years – it’s a great investment. (In fact I’m going to vegas in a week and I just bought a second copy so I can get the coupons back that I used during my list trip a few months ago

Second when you go to a new casino (keep in mind that many share the same players card/ownership) check out if they have any deals for sign up – many will give you free show tickets (riviera gave me free tickets my last trip for any show I wanted) or slot play. Also its a good idea to concentrate your play on only a few cards, which you should always use. Particularly if you think you might want to return to vegas sometime in the next year. Many casinos are hurting pretty badly and will send mail offers for free rooms to even moderate slot players – I’m getting most of my stay comped this trip and I’m by no means a high roller (or even a moderate roller). Stratosphere is notoriously good from free room offers to even low rollers (not a bad place if you’re young and not rich), and the bconnected properties (Gold Coast, Orleans, Main Street Station etc) are also really good for future offers even to moderately low rollers.

If you like the slots do yourself a favor and gamble downtown or off strip (The Palms is just west of center strip (free shuttle from Bills to Gold Coast which is across the street from Palms), has awesome slots, even better video poker and is a pretty hip joint.

The other thing to do before you book a hotel if you dont have a comped room is to check for coupons codes for the various travel sites. Right now Orbitz has a deal for 40 dollars off 3 night hotel stays with the code AFFORB40 – you can get a room crazy cheap (under 10 bucks a night in some cases) Want to stay longer? Book 2 seperate 3 night stays and use the code each time.

Lastly cheap out the website cheapovegas.com – a really cool review site – that will tell you alot about the various vegas casinos.

Hope this helped.


Lisa asks…

How does college tuitions increase relate to personal finance?


how does the above relate to personal finance? All i can think of is we learn about budgeting in that class and that class i guess prepares us for college, but i don’t think that’s the right answer or what the teachers looking for.

Edward answers:

Higher college tuitions mean more cost to you in the future.

That means you will have to plan for this increase (and even better any future increase) in your budgeting.
You will need to save more today to pay more tomorrow OR find an investment that return more so you will still hit your target.

Mark asks…

I want to convert IRA’s set up with after tax contributions to a Roth IRA in 2010. Are there Tax implications?

I have several IRA’s that are all funded with after tax contributions and have not been deducted from any tax return. Can I convert then in 2010 to a Roth without any penalty or tax payments?

Edward answers:

I believe they will not charge any tax to you. Any 401k’s however will. Call you investment agency whom you are opening this account with. They will give you a definite answer

Roth IRAs are definitely the best in my opinion. ESPECIALLY if you earn more money in the future and boost yourself into a higher tax bracket, since you already paid taxes on it previously.

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Your Questions About A Company Purchased A New Truck

Thomas asks…

Does anyone know of a reputable company to loan for purchase of a semi truck in or near Orlando Florida?

A friend of mine is purchasing a semi truck from a company that is giving him the royal shaft. He desperately needs financing to get it paid off, and get away from this company. He has already put so much money into this truck that he can not afford to let go of it. Any and all HELP would be greatly appreciated. Thanks

Edward answers:

Try autofinance.com or citibank.com or bizrate.com

Susan asks…

Palonek would like to know are any car companies giving out low interest loans to purchase a car?

Are some car companies still discounting loans to purchases cars or trucks?

Edward answers:

General Motors has moved its usual holiday special – the Red Tag Event – to begin Nov. 1 this year. That means no haggle pricing and 10% discounts on everything GM makes. Toyota, known for being stingy with incentives, is continuing its first-ever zero percent financing offer through December. Not to be outdone, Nissan has followed suit, with zero percent financing available on some of its most popular models. Even BMW is in on the act with low-rate financing offers.

Follow link to article:

Sharon asks…

How many miles per gallon do you get on a highway and driving locally with a tractor-trailer?

I’m interested in obtaining my CDL and becoming an owner/operator. I’m trying to figure out if the profit (the pay minus gas, expenses & expense of purchasing the truck) will be significantly different from working for a company. I know gas is a big factor, so I want to know if I would make a great deal more than driving for a company versus owning my own rig. Any help you can provide will be beneficial. Thanks.

Edward answers:

On the highway I can get 5.9 – 7.0 depending on load weight and terrain ( mountains or flat). In the city I get around 3.5 mpg. Overall I average 6.4.
The profit you make will depend on how you manage your business and your driving habits. It is important to find a company to lease to that pays a high fuel surcharge and a good mileage rate, or a high percentage of the load. There are companies out there that do this and you can do well.
You have to consider all the factors. Who is paying for the base plates? Permits? Who’s trailer is being pulled, yours or the companies? Can you fuel on there network to save on cost? What kind of mileage will your truck get? What does it cost per mile to operate?
Some companies you bring your own truck and trailer, you pay for your own tags and permits. They may or may not have a fuel network. These companies will pay more.
Some companies you bring the tractor. You pull there trailer, they pay for plates, permits, and insurance through them. You buy fuel on there discounted network and parts and maintenance through there shops at there rates. These companies pay less. You have to crunch the numbers and decide what will suit you best.
Being a company driver all the above is done for you. You can still make a decent wage as a company driver.
If you can find a good company to lease on to you can pay yourself more than what a company will pay a company driver.
I would recommend driving for a company for a while and talk to some O/O and learn the ropes before buying a truck. By no means am I advocating you give up on your dream. Good luck

Jenny asks…

What do I need to drive home newly purchased from other state used, not registered commercial truck-TRACTOR ?

Can I get a temporary plate for newly purchased used truck from private owner, since the truck is not register and is located in different state?? Are there any other ways to bring it to my yard without the need of registering it under my company‘s name?

Edward answers:

A miracle

That type of commercial vehicle, I don’t think the temp plate is going to do it. Most of the time, that temp plate is no good, outside the state of issue – and it’s geared towards private passenger or light trucks.

What you need to do, is get the title sent to you, do the registration in your home state, get the plates from YOUR state DMV, then bring them with you to the other state, when you pick up the truck.

Richard asks…

Does anyone know the pros/cons between a seated lift truck and standing lift truck?

My company needs to determine as we purchase future fork trucks, what it the better way to go, but I’m not sure of the benefits or disadvantages between the two. Any help would be greatly appreciated.

Edward answers:

Ask the person that’s going to be driving it, if he’s on it all day, he’ll want a seat.

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Your Questions About Investing For Income 2009

Maria asks…

non filing income tax return?

Non filing of return for assesment year 2009-10, 10-11, 11-12?I am living in join family we are farmer.I dont have any taxable income. I m getting some income from farming (agri income)since year 2001 I have invested some amount in share market, now today i got a notice for filing of return for the year 2009 – 10, 10-11,11-12, I dont have any proof of income which i had invested, i only have proof of farmer.. no agri income bills. Please guide me what sh

Edward answers:

You have received from Income Tax department because you have invested some big amount in Shares. First make a list of your shares investment like when you have invested and how much gain you have made in the shares. Meet a Tax Consultant in your area along with the notice and with the details of shares investment and your land holding. He will do the needful. There is nothing to worry much.

Lizzie asks…

64 yrs old 50 k to invest ? Where and why?

Edward answers:

I assume you are going to retire soon. I would have a 60% stock 40% fixed income right now.
The 60% I would have an array of stock mutual funds.
For fixed income I like Short term bond funds: In a rising interest rate environment you want to keep your duration on your bonds as short as possible. My recommendations on these funds are as follows:

Janus Short-Term Bond fund symbol JASBX. This fund has never lost money in a given year. Year to date from Jan 1, 2009 to September 30, 2009 this fund was up 7.37%

PIMCO Low Duration bond symbol PLDDX. This fund has lost 1.58 percent in 2008 its worst year. Year to date from Jan 1, 2009 to September 30, 2009 this fund was up 11.44%

Sharon asks…

Percentage in change of income?

I am having trouble trying to figure out percentage of change in the following numbers:

Net Cash Provided by Investing :
2008 2009
-2930 157925

Edward answers:

2,930 + 157,925 = 160,855 change from 2008 to 2009

160,855 / 2,930 = 5,489.93%

William asks…

2009 new homebuyer tax credit….?

Are there any rules on how you spend the $ from the 2009 new homebuyer tax credit? I heard that it much be spent on the house for like repairs or upgrades.

Edward answers:

Treat it just like your income from your job. Buy whatever you like, invest, vacation, etc. There is absolutely no requirement about how to spend the money. The purpose of the credit is to increase the sale of homes – period.

Perhaps you are thinking about the Energy Efficiency Credit. Totally different thing. Read about it here: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Home buyers could be entitled to both credits.

Good luck.

Mandy asks…

income tax slab for financial year 2007-2008 assessment year 20008-2009 and tax saving investments?

Edward answers:

Following were the Income tax slab for AY 2007-08
But not for 20008-09

For individuals resident woman {not being a senior citizen (who is of 65 years or more at anytime during the previous year)}
Net income range income tax rate
Upto 145000 nil
145000 to 150000 10% of (TI-145000) + 3% education cess
150000 to 250000 500+20% of (TI-150000) +3% education cess
250000 to 1000000 20500+30% of (TI- 250000) +3% education
above 1000000 245500+30%of (TI-1000000) +10% of income tax Surcharge + 3% of income tax and surcharge

For resident senior citizen (who is of 65 years or more at anytime during the previous year)
upto 195000 nil
195001 to 250000 20% of (TI-195000)+3% edu cess
250001 to 1000000 11000+30% of (TI- 250000)+3% edu cess
above 1000000 236000+30% of (TI- 1000000)+10% sc
+3% edu cess

For any other individual, every HUF/AOP/BOI/Artificial juridical person

upto 110000 nil
110000 to 150000 10%of (TI – 110000)+3% ec
150001 to 250000 4000+20% of (TI-150000)+3% ec
250001 to 1000000 24000+30% of(TI- 250000)+3%ec
above 1000000 249000+30% of (TI-1000000)+10% sc+3%ec

* ec Education Cess
* sc Surcharge
* TI Toal Income

Following are the different items where you can invest to get a maximum deduction of 1 lac u/s 80 C

1.LIC insurance premium (including payment made by govt employees to the central govt employees’ insurance scheme and payment made by a person under children ‘s defered endowment assurance policy){subject to a maximum of 20% of sum assured}

2.Amount deposited as term deposit for a period of5 years or more accordance with a scheme framed by the govt (applicable from Assessment year 2007-2008)

3.Payment in respect of non-commutableDeffered annuity plan

4.Any amount paid as tuition fee (not including any payment towards development fees/donation/payment of similar nature) whether at the time of admission or otherwise to any university/college/educational institutions in india for full time education

5.Salary deducted by employer (incase of Govt employee)

6.contribution to Statutory provident fund and RPF.

7.contribution towards 15yrs PPF

8.contribution towards approved superannuation fund.

9.Subscription to National Savings Certificate VIII issue.

10.contribution for participating in the ULIP of UTI

11.contribution for participating in the ULIP of LIC mutual fund

12.Payment for notified annuity plan of LIC or any other insurer.

13.Subscription towards notified units of Mutual Fund or UTI

14.contribution to notified pension fund set up by Mutual fund or UTI (i.e retirement benefit pension fund of UTI)

15.Any sum paid including accrued interest as subscription to home loan account scheme of the National Housing Bank or contribution to any notified pension fund set uo by the national housing Bank.

16.Any sum paid as subscription to any scheme ofa> public sector company engaged in providing long term finance for purchase/construction of residential house in India.b> housing board constituted in India for the purpose of planning, development or improvement of cities/towns.

17.Any amount towards the cost of purchase/construction of aresidential property (including repayment of loan taken from Govt. Bank, cooperative bank,LIC,National Housing Bank,assessee’s employer where such an employer is a public company/public sector company/university/co-operativ… Society)

18.amount invested in approved debentures of, and equity shares in, a public company engaged in infrastructure including power sector or units of amutual fund proceeds of which are utilised for the developing, maaintaining,etc of a new infrastructure facility

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Your Questions About Anna ‘s Daughter

Jenny asks…

Anna’s daughter is going to be a rich?

If anything, that money would go to Dannielynn, unless Larry burns it all, but she is an instant celebrity. No doubt when she grows older she probably won’t even go to college, she won’t even know the laws of physics, wow, she is going to have life the high life. I bet all the guys will be over her. In short, she can be considered the luckiest girl to walk on the earth. In a couple years, she’ll be visiting Toys R US, and picking every item off the shelf without the true colors. Well, this is more of a rant, but flame me all you want

Edward answers:

First of all, I’m not certain how much Anna Nicole Smith was worth at the time of her death. It may be millions, who knows? But it may be considerably less. Let’s remember, Anna was borrowing the house in the Bahamas. My question is: didn’t she have her own money to buy or lease a house? Second, Anna Nicole sold the last pictures of her and Daniel to a magazine for money. This sounds like a person desperate for money. Lastly, although Anna Nicole had a pending lawsuit regarding her husband’s estate, this lawsuit is by no means a done deal. Anna fought this fight for many years without receiving a dime. It’s ironic that both Anna and her husband’s son (who were fighting each other for the fortune) have both died in the last few years. Who’s to say if the lawsuit will be awarded in Anna’s favor or not. Personally, I think it’s strange that Dannielynn, who had nothing to do with Anna’s weathly husband, will receive any of his estate. Howard Marshall was not her father, grandfather or any other relative. Let’s face it! Anna married a rich man and spent years of her life trying to get his cash.

James asks…

who is anna’s daughter’s biological father?

Edward answers:

I think it is the blond haired guy. I mean really looking at the pictures of her she kind of looks like him. But I just pray that the person that gets custody of her takes good care of her and teaches her about her mother. It seems a lot of people are out for money in this case and not looking out for the best interest of the child.

Chris asks…

How do you feel about Larry Birkhead being the father of Dannielynn, Anna Nicole’s daughter?

Edward answers:

Does anyone really have a life so shallow that the illegitimate father of some celebrity’s baby actually affects the way they feel?

Mark asks…

anyone know where Anna’s daughter Amy has gone in where the heart is?

Edward answers:

Don’t you just love it in TV programmes when someone’s child goes missing to make it more convenient in the storyline but then later they’ll have an episode about how they can’t get a babysitter!

David asks…

Anna’s daughter…..Who gets custody now??

Edward answers:

The father that passes the DNA test.

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Your Questions About Israel

Paul asks…

What incentive does Israel have to achieve peace with its neighbors?

If Israel were to be at peace, the billions of dollars the US gives them might cease and this is one of the main sources of Israel‘s income.

Edward answers:

None. The Muslims would wait until the time is right and then strike.

Idk what are you going to do? We can’t afford to keep subsidizing them. They’ve gotta stand up on their own two feet and defend themsevles now.

Charles asks…

When is Israel going to stop its atrocities and stop killing innocent Palestinians?

Enough is enough, look how many innocent Palestinian civilians have been hurt and killed, they’re the ones living under the real threat, without basic necessities and are always under fear. When is enough enough? Israel is the one who will start the next World War, it shouldn’t even be recognized and no one should send it anymore money.

By the way I’m not Middle Eastern, I’m German and in Germany we’re all aware of all the atrocities Israel has commited and don’t understand why the U.S. keeps sending Israel so much money and anybody who criticizes Israel is called antisemitic.

Edward answers:

You don’t have to STOP doing something that you have never done.

Hamas makes no bones about its intention to kill Israeli civilians with its rocket and mortar fire. Israel contacts residents of buildings housing terrorists or arms caches, and warns then to leave their homes before they are attacked.

Hamas is the evil side, while Israel is the humanitarian side.


Donald asks…

What would Israel do if the new Egyptian President invalidate the peace treaty?

If that new Egyptian has nothing to do with the Muslim brotherhood, he did that because he believe Israel has no right to exist according to History, and because Israel causes much trouble in the middle east and commits war crimes..etc
He only invalidate the peace treaty, but that doesn’t mean he will wage war against Israel. maybe he don’t like the idea of giving the natural sources of Egypt to country like Israel.

Edward answers:

Dear Lina
Do you actually mean the words what you stated?
Country like Israel
Going to history……..kind of thing

First of all Egypt will lose out financially

As it is dependent on the USA aid and money that it draws from Israel.
Israel need not do much about that
But for sure they will feel the pinch of it.
Though they will tackle this through diplomatic channel……
If things can be negotiated they will certainly do that
They have other option available too as they have huge backing from the west and is a nuclear capable nation
They will shift their source to nuclear energy that they have already started.

Now Peace Treaty is for mutual benefit for both nations
If Egypt neutralize this treaty then that would mean it is open to war against Israel.
However hard Egypt then Try but chances are that it may face International Flak

And as with growing Indian and Israeli relation
In Future if Egypt with Arab world go into war with Israel
Chances are it’s complete whitewash.
But the Real problem will be to other Islamic nation as Israel will be no longer associated
to any islamic nation will make it’s Army look for Future and in that case they may look to strengthen their tie in south east nation.

Well! Anyway chances are these thing will remain story only as
Why would any nation do that stupid thing?
Peace Treaty and Business both are in favor of Egypt and Peace in that Region.

I personally admire Israeli Jews as whole around the world
They were butchered and killed barbarically but when they stand against
Islamic Fanatics they make it a point to show the world
what belief and faith in own strength can bring……..by creating a first Jews nation in the world
which is the symbol that at End Truth Prevails.No matter what come against.

Daniel asks…

How do you wear made by Israel cloths to protest matches against Israel?

These protester enjoy Israel technology/patronize Israel Business yet are up in arms against Israel?
Suggest any protester check out their household and see the deeper connection they have with Israel business.
If anyone really have anything against Israel, they should stop patronizing businesses with Israel interest. That way we will know they are serious.

Edward answers:

I wear mine with a great deal of pride.

James asks…

What is Israel doing in the Eurovision Song Contest since they claim Palestine is their homeland?

Palestine isn’t in Europe and neither is the Israeli State, so why is Israel in the Eurovision Song Contest? Could it be that they cannot deny their European roots and therefore do not really belong in the Middle East?

Edward answers:

Good question. Israel is on stolen land, that should be returned. However, Israel is the only jewish state left in the world, it won’t be that easy to abolish it, and since it’s the only one left..shouldn’t we try to preserve Israel? I got a better idea…Israel is competing in the Eurovision Song Contest, and the only reason Israel was formed was to give a home to Jews after WW2…So maybe Israelis should go back to live in Europe. If Hitler never went on a kill Jews spree, Israel possibly wouldn’t exist today, and Jews could be safe in Europe. Maybe they should go take over Vatican City, or go somewhere in Europe.

I hear many European countries, and of course Middle Eastern countries, don’t recognize Israel on their maps, but we do. So since Israel doesn’t exist in their eyes, then Israelis are in fact European, in mine. Europe shouldn’t have a problem letting them in. After all, if the Europeans can let in muslims, surely they can let Israeli jews flood into their continent.

Edit @ Me: Isn’t Turkey becoming apart of the European Union? And how is she racist? Just b/c she says Israelis are European or have European roots? Well, I guess most of the Middle East is racist too, since you know, many choose to ignore Israel, etc…Are they racist too? Go look that up before you shout out blant statements.

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