For questions that relate to the laws, practices, and products of the United States.

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401k Loan Default Remedies

I took out a 401k loan against a new home, and failed to make the payments in a timely fashion due to misunderstanding on my part and lack of address updating on the plan holder's part. My first ...
0
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1answer
11 views

Whether it is possible to get copy of my W-2 from IRS for past few years?

Whether it is possible to get copy of my W-2 from IRS for past few years? For some reasons, i need to have copy of my last 7 years W-2. I was wondering whether it is possible for me to get my copies ...
2
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0answers
29 views

How should Form 1040 be amended if error was introduced on lines 78 and 79?

Background Previously I asked "Where is payment for failure-to-file and failure-to-pay penalties included on Form 1040?" There I found out that the failure-to-file and failure-to-pay penalties should ...
20
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6answers
4k views

Why do stock prices of retailers not surge during the holidays?

My six-year-old (!) son asked me this question and I didn't have an answer, so I told him I'd get back to him. He asked why people don't buy a large number of shares of a company before the holiday ...
3
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2answers
49 views

Need help filling out W-4 form

I need help filling out W-4 form so that I get more money from my paychecks and pay less tax. Recently my circumstances have changed, I am married and have 1 child (2 months old), only I work my wife ...
4
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2answers
56 views

How to secure one's effort when working on a contract?

As a youth I was verbally contracted by my then-dentist to write a system that spares him from being innundated with patients paperwork. Naively, I negotiated neither requirements nor compensation. ...
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2answers
27 views

using deed's of trust to negotiate for higher prices for land sales

It seems like Deeds of Trust's for real estate properties (which are public records) include the loan amount on them (assuming a loan was obtained for the purchase of the property). Obviously this ...
3
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3answers
106 views

Are there special exceptions to the rule that (US) capital gains taxes are owed only when the gain materializes?

Normally capital-gains taxes on equity are only owed when the gain is realized, i.e. when the shares are sold. Does this change (in the US) if the gains are the result of an IPO or if the person ...
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0answers
24 views

Postbank (Germany) - transferring money to the US - what are the best options?

The German 'Postbank' offers money transfers to the US on their website. Has anyone experience with that? My question are for the cheapest and fastest way (of course); namely: should I pick '...
2
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1answer
48 views

Where is payment for failure-to-file and failure-to-pay penalties included on Form 1040?

Form 1040 line 79 is for "estimated tax penalty", but my understanding is that this is for 'penalty for not paying estimated tax', not 'the estimated amount for all tax penalties'. If this is the case,...
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0answers
23 views

Trying to get Post tax deduction for Insurance premiums

How can you make your company take the premium post tax? I retired and have a RHCA(Retirement Health Care Account) to pay premiums only. My husband still is working and I can't pay premiums of pre-...
2
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3answers
61 views

Waiting time before converting IRA after re-characterization

I re-characterized my 2015 Roth IRA contributions as traditional, non-deductible IRA contributions. I would now like to convert all my traditional contributions to Roth IRA. How long do I have to wait ...
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1answer
27 views

What is the best option I have to close out a State Tax Lien record?

I am an Indian national and was working in the USA for few years in the past. I returned back to India in 2013. I paid both federal and state taxes up till 2013. Now, I see a 'State Tax Lien' ...
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5answers
4k views

New company doesn't allow 401k deposits for 6 months, what to do with money I used to deposit?

I plan on taking a new job that does not allow employee 401k contributions for the first 6 months. I am used to maxing out my 401k, and this seems like a dangerous amount of money that I don't want ...
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1answer
57 views

Selling Home Have a question not sure how to put it [on hold]

I selling my house that I been in (1999) and never refinance will I be getting money back from that?
4
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1answer
70 views

Do I need to have a formal rental contract to get renters insurance?

My girlfriend is going to college for the next 4 years and her parents just bought her a condo to stay in while she is at school. I will be staying in it with her, and there is a room for her parents ...
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0answers
53 views

Delphix Corp ? Will it go IPO and around what price and when? [on hold]

Delphix Corp ? Will it go IPO and around what price and when ?
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1answer
29 views

Can I recharacterize my Roth since my income this year is foreign?

I moved abroad a couple years ago, but 2015 is the first year that I am claiming to be a bona fide foreign resident. I have been contributing to a Roth IRA for years. Filling out my return this year, ...
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4answers
878 views

Resources to begin trading from home?

Apologies in advance if this type of inquiry is inappropriate for this StackExchange. But it is a personal question, and it is about finance, so... Anyway, here is the backstory so far - I will try ...
3
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4answers
160 views

How to pay down credit card debt

Last year I was at a good university and I decided to quit my job and take on a huge load of classes in order to finish in two semesters. I have a wife and a child and the student loans are based off ...
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1answer
23 views

How to represent Company return

I was doing W2 contract work and received my W2s. The company I was contracting for contacted me and claimed they had withheld too much money for city taxes and are returning it to me via fedex in the ...
2
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1answer
82 views

Can an employer refuse to remove a spouse who recently acquired their own health insurance coverage?

My spouse recently took a new position with benefits. Where I have been providing benefits through my employer I contacted them and ask to remove my spouse. At first, they said not a qualifying ...
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6answers
158 views

How can I stop a merchant from charging a credit card processing fee?

According to the answers on Can a merchant charge you more in the US if you want to use a credit card?, I gather that, while it is not illegal for a merchant to pass their payment card processing fees ...
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1answer
40 views

Tax implications of holding EWU (or other such UK ETFs) as a US citizen?

What with the Brexit completely murdering UK stocks right now, and having taken to heart the motto "buy when there's blood in the streets", I was thinking of investing some money in the UK, via ETF. ...
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1answer
34 views

Pre tax and and after tax on dental and eye vision insurance

If anyone can help me I would really appreciate it. In my Pay stubs I realize i get tax pre tax and post tax on both my dental and vision insurance? why is that? why do they take it out twice?
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3answers
340 views

Is it a gift or not?

IRS rules are not always black or white, and something that I find myself struggling with is what is considered a gift. Hypothetically, suppose I am moving soon and have a broken leg so I cannot do ...
3
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3answers
196 views

How much does a landlord pay in taxes?

I live in California, and am considering buying a house in Vancouver, WA, to rent it out to friends. What I don't know, and seem to have trouble finding the answer to, is: how much taxes would I pay ...
3
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6answers
292 views

What I can possibly do about the future once my student loans are paid off and I have no savings?

I attended a private institution in the USA for higher education and as a result I pay monthly student loan payments so expensive they rival my rent payments. I try not to think very hard about this ...
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1answer
70 views

Tax Efficiency with Index Investing

I will have money left over after maxing my 401(k) and Roth IRA. I plan to open a taxable investment account to invest the remaining money, but I want to make sure I understand the basics of tax-...
4
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2answers
62 views

Taxes on transactions of services

Say Alice writes Bob a computer program, and in exchange, Bob remodels Alice's house. If they were charging money instead of bartering services, either of them would have charged several thousand ...
5
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2answers
187 views

Is there a downside to dropping out of my 401(k)?

My employer started offering a 401(k) plan a couple years ago with no employer contribution (we are a small company). I signed up as it seemed like a good way to force myself to save for retirement. ...
19
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9answers
4k views

Is this investment opportunity problematic?

I recently got an email from a close friend of mine, that goes something like this: We're looking to sell our rental house and buy a new one. We found one we like, but the housing market is very ...
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0answers
41 views

Tax form requirement - irs

This sounds a stupid question but I need to ask - I have two other houses besides the one I live in - on a tax form are they both called second homes or does one get designated as third home
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0answers
37 views

Real Estate - Cost Basis for Capital Gains

I recently sold vacant land and am trying to determine the costs basis to calculate the capital gains amount (if any). The property was split over 10 years ago when I sold my residence and a few ...
0
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1answer
43 views

Tax benefits with non working spouse while on L1 visa?

I’m moving to California on an L1 visa soon. My wife will also be traveling with me. We have the following in mind: She travels to US with me. Applies for the EAD work permit and comes back to India....
3
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3answers
436 views

$1000 a month to invest. Index is the way to go?

No credit card debts, no student loans, nada. I have a modest house with a small fixed mortgage, a nice year cushion of savings (in a high-yield account), contribute 15% of my income towards ...
4
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4answers
263 views

New grad with new job seeking advice on how much I should put towards my 401(k)

I have a new job that pays ~100k. I'm in my early 20s. I'd like to figure out the most financially intelligent course of action when dealing with 401(k). This is the policy: X company will match ...
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3answers
422 views

I've started two credit agency disputes with the originators of the credit (CC company and a bank). Is there anything more required from me?

I found a CC that I had nothing to do with opening on my credit report. I called the issuing company and told them as much and they opened a dispute with the 3 agencies. Also, in an effort to increase ...
3
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1answer
113 views

Taxed by paycheck or salary?

My company is implementing a review/raise structure where everyone has their review over a 2 month period (July 1st - August 31st). Everyone then receives their raises on August 31st, backdated from ...
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1answer
103 views

FBAR - Filer is Principal Joint Owner

It is unclear in the instructions what to put in the "Principal Joint Owner" section for a joint account where the filer is also the principal owner. Under the "Number of joint owners" in the ...
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3answers
114 views

Stocks taxed just for selling, or just when withdrawing?

I'm humbled by the fact I couldn't find a direct answer to this anywhere so if one exists already just let me know and I'll del this one. My question is, say you have an Ameritrade (or similiar) ...
0
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2answers
46 views

Step-Child Dependency for Non-US Citizen

For long term expats living in another country with a step-family / step-children via marriage. Looking at [26 U.S. Code § 152 - Dependent defined as a reference which states: The term “...
0
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1answer
47 views

US Double Taxation - Business Trips and the Foreign Tax Credit

My reputation is not strong enough to comment on some of the existing topics - please accept my apologies for a potentially mergable question(s). Assumption: The Foreign Income Exclusion (Form 2555) ...
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0answers
65 views

What is the maximum amount of money I can send internationally? Do I have to pay tax?

After successfully finishing my degree in the US, I am ready to return to my home country. So I have to think about transferring my money in my US bank account to my account in my country. I know ...
44
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7answers
13k views

Why are 30-year mortgages seen as unwise, if you can pay off the loan in a shorter period of time anyway?

I'm slowly working towards buying my first home (yay!), and have been playing around with the numbers. As far as I can tell, there's literally zero advantage for getting a 10 or 15-year mortgage since ...
3
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2answers
45 views

401K funds withdrawal at age 60 for non US resident

I have funds in a 401K plan from a period of time I worked in the US in the late 80s. I am not a US resident and I wonder if at the age of 60 I can start monthly withdrawals and how are these ...
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1answer
37 views

Working in the US, paid by a foreign company

While studying in the US, I'm going to do some computer based work for a company outside of the US. Will this be considered work in the US?
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2answers
291 views

$100,000 to invest, how should I invest it?

I am just getting into investing, and am looking for some initial input: Lets say I have $100,000 to invest... and I'd like to keep my finances as simple as possible. What investment options are ...
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2answers
634 views

Double taxation and tax treaties for US citizens. Are you ever getting truly double taxed?

I've read several articles about double taxation I still don't really understand because I've been given conflicting information by different people. Are tax treaties between the US and certain ...
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4answers
2k views

Visitor Shopping in the US: Would I get tax refund? Would I have to pay anything upon departure?

I plan to do some shopping when I'm in the US. I wanna know two things: What items will I get tax refund on? and in which states/cities? Will I have to pay anything at customs when I am leaving the ...