Ep. 372: The Million-Dollar Question With Damian Dunn

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Today we’re talking about tax debt, stock splits, and The Million-Dollar Question! Pete and Damian are back with their usual hijinks talking about the latest money news and listener questions!

Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.

No time to listen? BUMMER. Here’s some of what happened:

Show Notes:

Mailbag Question 1:

    • “My son-in-law did not pay taxes owed and has a $10k debt to Uncle Sam. My daughter is freaked out. I told them to go onto the IRS.gov website to set up a payment plan. Also, who would be the best person to see to make sure they don’t get into this mess again?
      • Damian: $10,000 is a bit more than pocket change. But it’s easy to get on the website to set up a payment plan; no need to get a third-party involved. Try and get this figured out, and don’t wait longer than you have to.
      • Pete: Getting behind can happen quite easily with self-employed folks who don’t set money aside for taxes. Also, relationship communication needs to increase, as this is an awful time to have a $10k tax debt.

Mailbag Question 2:

    • “Apple announced a big stock split; 4-to-1. Why do companies take their stock, cut it up, shrink the price, and then give people more shares of the stock at a lower price?
      • Damian: The thought is they hope to make the company more liquid and reachable for the average investor. More people can buy shares of the company in full, versus buying fractional shares. This lets more get in on Apple and make some money. This does not lessen the overall value, it simply adds more shares at a smaller per-share price.
      • Pete: So this move is to entice investors from around the world! It also gets people’s attention; “Oh, now I can afford it!”

 

Click PLAY below for the full show! And while you’re here, don’t forget to check out Hey Money!

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