RABCPA PC Blog
People with accounting backgrounds may not be familiar with how bank accounting operates. When you think of bank operations you have to remember that the primary income of the bank is interest income. The main operating expense is interest that they pay out to customers.
After subtracting the interest income from the interest expense, you then have operating income before the banks expenses.
For example, banks are required by regulatory agencies to keep a certain amount of money on hand as reserves. In addition, banks have two sources to borrow; one is the Federal Reserve and the other is banks. Posted April 19, 2018 by Robert A Bonavito in Educational Videos
When getting divorced, the state looks at a divorce the same as they look at splitting up the assets of a corporation. Each individual typically gets 50% of the assets.
However, there are some situations, especially when calculating alimony that you need to remember. The main one is the savings component.
For example, someone who is making $2,000 per month may be putting a portion of that into their savings. If a couple is saving $500 per month out of monthly income of $2,000 the income that should be split between the parties is $2,000 not $1,500. The reason for this is that I look at the $2,000 as the real standard of living and not just the $1,500. Posted April 7, 2018 by Robert A Bonavito in Matrimonial & Divorce
I realize that this is probably against the conventional wisdom that you have heard about buying a car.
Many people like to buy a used car thinking they get a better deal, or lease a car because they can put less money down.
My experience has been just the opposite. When you buy a new car you get extended warranties, you can negotiate better prices and lower rates on loans.
It is easy to find out the value of a new car, but practically impossible for a used car. If a dealer does get a good used car they usually sell it to a friend, not you.
Right now, many used cars are selling for about $15,000-$20,000. When you are looking for a used car or to lease a car, remember you can usually buy a new car for the same price. Posted March 31, 2018 by Robert A Bonavito in Educational Videos
