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

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Are Roth IRA withdrawals within the same year as contributions tax free?

A couple of months ago, in this calendar year, I contributed $1,500 to my Roth IRA. I didn't invest it, so it still is worth only $1,500. I now need $1000 back, and so started to fill out a ...
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0answers
13 views

401k strategy for NRI planning to return to india

Scenario is for L/H visa holder who is earning salary in USD. The person also has employee sponsored 401k plan. The visa expires in 5 years and person would like to return at that time to India ...
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1answer
25 views

Is there a standard or best practice way to handle money from an expiring UTMA account?

I have recently turned 21, and the UTMA account that held my college fund is being turned over to me. I have no serious experience with personal finance or investing, and I just don't know what to do ...
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8answers
3k views

Why is paying mortgage interest considered by some to be beneficial?

When discussing buying a home I often hear people say they like having a mortgage because they get the benefit of writing off the interest. Am I misunderstanding something? My simple thought is if ...
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1answer
50 views

Add > 5,500 (excess contribution) to Roth IRA for temporary investment?

I have an standard IRA through work and an additional Roth IRA. I split my contributions between the two accounts. I understand the max contributions to the accounts combined is 5,500 per year. A ...
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1answer
84 views

Early withdrawal from retirement appears to have been penalized at 35% (on top of regular income taxes), rather than 25%?

I had to withdraw from my Simple IRA retirement fund last year for emergency reasons. When I withdrew, the IRA company withheld 10% for federal taxes. When I did my taxes at the end of the year ...
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4answers
76 views

Will canceling one of my CapOne credit cards hurt my credit score?

I have 2 CapOne credit cards, they show up as 1 account with both their credit limits combined on my credit report. My question is; Could I cancel one of those cards and apply for a better rewards ...
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0answers
36 views

Where can one graph portfolio performance over time?

I'm used to my employer provided 401k website, which allows me to see a "personal rate of return" over a specified time period, plotted on a line chart. It also allows me to see individual stocks and ...
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2answers
56 views

adjust tax allowances

I need to adjust my income tax allowances I'm classified as single and claim 0 allowances, this is the most debilitating outcome for near term cash flow and I've read I can claim 1 or 2, my dilemma ...
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1answer
16 views

SEC Form 144 and Form 4 difference

What is the difference between an SEC Form 144 (Proposed Sale) and an SEC Form 4? For example, this company has filed Form 144's, but not Form 4's. I understand that a Form 144 has more basic ...
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0answers
31 views

How can I transfer my money between US/Canada bank accounts with as little loss as possible?

I am currently living in Canada and have funds in a savings account with a Canadian bank. Say I decide to move back to the US, how could I move those funds to a US bank account with as little loss as ...
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1answer
145 views

What's the tax rate on Roth IRA contributions for a nonresident alien?

I am considering open a Roth IRA account and I was wondering how much I'll be taxed on my deposits. I am a nonresident alien for tax purposes, and I read online that I would be subject to a 30% rate. ...
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1answer
130 views

What does this 401K statement mean?

"Your employer will match up to 10% of your compensation that you elect as pre-tax contribution. When you contribute to your plan, your employer matches 50% of the first 10% of your pay." I don't get ...
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1answer
51 views

Is money sent by my brother to buy a flat taxable?

I am a Canadian citizen living in Halifax. My brother wants to help me buy a flat and plans to transfer money as a gift ($150,000 USD) from the States to Canada. Is the transfer taxable?
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2answers
111 views

Verizon and I disagree about the duration of a contract. Do I have any recourse?

A little less than a year ago, I purchased an iPad with service from Verizon Wireless and getting what I was told was a one-year contract for $100 off of a device of just under $1000 of the price. ...
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0answers
30 views

What should I be doing with my money as I save for a down payment on a house? [duplicate]

A bit of background: My wife and I have a combined income of over $100k (before taxes, retirement, etc). We both put 15% of our paycheck into a 401(k), and we have no debts of any kind. We pay off ...
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1answer
39 views

Employee stock : US tax for non-US citizen

To give a brief history, I am Indian citizen based in India and I worked for a technology start-up in India, it was a US based company which had its branch office in Hyderabad, India. Company was not ...
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0answers
36 views

Time limit for health-insurance to pay doctor bill and send EOB

I'm in the middle of another dispute between an in-network doctor's billing office and my health insurance company (HIC). My health insurance has not yet paid the bill due to a dispute with over some ...
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1answer
52 views

Can a debt collector keep my payment info?

Most (all?) bills come with a form to fill out your credit/debt card info and mail back to them. What are the limitations on what they can do with one's card and how long they can hold the info? Like, ...
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2answers
71 views

How do I check if I have already filed my taxes [Unites States]

I don't know if I've filed my taxes or not! I am due a refund according to TaxACT Deluxe, but I have no idea how to check if I have already filed for my taxes? What happens if I e-file again and I ...
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0answers
14 views

Want to open a bank account in US from India without visiting USA [duplicate]

I am from India and I would like to open an US bank account for trading but I can't visit US for this purpose. Is it possible, if so can you guide me.
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0answers
12 views

Can I transfer my RSU/ESPP shares money to a friend working in US?

I am an Indian citizen. I need to sell the ESPP and RSU shares granted for US company. I want to transfer the money to my friend's account, who is working in US but is an Indian citizen. He will in ...
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4answers
179 views

Should I get a bank account since I recently got my first job?

I'll be starting work this Friday (yay!) and haven't got the slightest clue about any of this. It'll be washing dishes at a restaurant, and I really don't know anything. Do I set up a bank account ...
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2answers
55 views

For Non US resident is it better to invest in a start up as a individual or as a company?

What are the tax implications of investing as a company versus as an individual for foreigners (Non US resident)in the US? Which would be better for a foreigner (NON US Citizen) to invest as.
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1answer
50 views

Married filing separately - Can I take standard deduction if spouse has zero itemized deductions

I read on IRS website "Your standard deduction is zero and you should itemize any deductions you have if: Your filing status is married filing separately, and your spouse itemizes deductions on his or ...
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2answers
64 views

When should you use an actively managed mutual fund in a 401k?

Why should you use an actively managed fund for your 401k? I have read several questions and answers on this and other sites and it seems like it's generally better to go with funds that follow the ...
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1answer
59 views

What does it mean to be a “high fee” or “low fee” 401k?

I keep hearing the phrases 'high fee', 'low fee' 401k. What fee range constitutes high or low fees?
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4answers
3k views

Are precious metals/collectibles a viable emergency fund?

My significant other received a gift from a family member in the form of silverware. The exact value is not known but it is likely enough to cover 6+ months worth of expenses if it were sold. It is ...
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2answers
48 views

Can I transfer HSA into my spouse's account?

The title says it all, my wife just quit her job and we're moving back into my insurance. Her HSA custodian charges $5/mo in service fees, which we don't want to deal with. Can we roll her HSA into ...
3
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1answer
132 views

Legality of purchasing uncirculated bricks of USD

What is the legality of "purchasing" an uncirculated brick of bills similar to one like this: 100 NEW $2 Bills Uncirculated Consecutive 2009 Notes BEP Would it be possible (and cheaper) to simply ...
10
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1answer
729 views

Employer match after tax?

My employer matches 2% of my contributions to my 401k but insists those contributions cannot be pre-tax. Is that correct?
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1answer
33 views

Can I claim spouse exemption for my dual status alien spouse?

For the 2014 tax year my alien spouse and I (US citizen living overseas) will file 'Married filing separately' because she is making a 1040NR expatriate return, which will include f8854. She is a ...
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2answers
116 views

What is the best strategy for after hours trading?

I'm new to stock market trading and while I do understand the basic concepts; researching the companies, buy low/sell high, and including setting good push/pull calls for both high and low margins. I ...
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1answer
17 views

US-NYC Tax question about self-employment work online for a Europe based company

I've been doing contract work online for a company based in Germany. So far I've made about 2,880 from Jan-June $500 a month then $480 after paypal. I don't get a 1099 from them. But I was wondering ...
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3answers
62 views

Roth vs Traditional IRA Question

With a traditional IRA, you are taxed on the complete balance of your account when you cash out after retirement correct? This would mean you are taxed on contributions + interest earned. With a ...
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3answers
620 views

Any downsides to having both 401k AND Roth 401k

So currently I have a 401k, I went ahead and added a Roth 401k while I'm eligible, beyond the fact I'll have to pay tax on the contributions now without the tax on withdrawal later in life you'd see ...
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2answers
60 views

How to take care of multiple student loans (consolidation, payment strategies)

I've freshly graduated college. Here's my current standing: I estimate ~ $1200/month in free cash after bills/entertainment/etc. My loans are as follows (all US based): 1: Perkins Amount: 3,240 ...
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1answer
29 views

SEC forms filed under different company name

I'm trying to find 10-K, 10-Q, or 4 forms for a company called Creative Edge Nutrition (ticker symbol: FITX,) but what I found was forms filed under the name "LAUFER BRIDGE ENTERPRISES, INC." Why is ...
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1answer
57 views

US dividends double taxation for foreigners (UK)

I have read that the US government exercise a 15% (or even 30%, where the foreign country is not in the double-taxation treaty with the US) withholding tax on US dividends, if the shareholder is ...
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1answer
42 views

1031 Exchange and Taxes?

We were given a property by my father in 2001 who was doing a 1031 Exchange on an investment property. Once we were given the deed and title of the property a year later, we started using it as a ...
2
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1answer
29 views

Is Money earned outside India transferred in NRO a/c instead of NRE a/c taxable in India?

Money is transferred to NRO account but was to be transferred to NRE account is such income taxable in India
4
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1answer
332 views

Are search engine rewards taxable?

I have been using a search engine that gives you points that you can redeem for gift cards. As far as I can tell there is no way to get cash, without reselling the cards, but I can figure a monetary ...
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2answers
56 views

Question on Free Credit Report

I requested a free yearly credit report from AnnualCreditReport.com via the mail-in form. The form is mailed into the organization, and the organization submits the request to Equifax, Experian and ...
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1answer
33 views

Where is the adjusted EPS in the 10-Q form?

I can't find the adjusted EPS in the 10-Q financial statement. Somehow everyone is using the adjusted EPS, but I can't seem to find it. Do I have to calculate it myself and how would I know what was ...
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2answers
57 views

Is there a “Rollover as business startup” for IRA?

I had a 401(k) with my employer, who I left recently. I'm considering rolling this over into an IRA since I will avoid a small maintenance fee this way, but I'm not sure if I will lose the ability to ...
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5answers
1k views

Can one insure a home's AC unit?

My mother-in-law would like to insure her single family home AC unit while my wife and I are informally renting a room with her. Is this possible? Although the unit is 10 years old and runs fine, she ...
2
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2answers
65 views

Having two different employer healthcare plans

I currently have two healthcare plans, one is United Health Care and one is Anthem Blue Cross. I'm able to get my health insurance in full from my old job which is why still have it(ABC). Anthem Blue ...
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1answer
302 views

Can I use an HSA to pay financed payments for LASIK?

I understand that an HSA can be used for qualified medical expenses, and that LASIK falls under this category. I'm considering getting LASIK done and would like to use my HSA to pay for it. However, ...
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1answer
90 views

Can a check be indorsed anywhere, or just in the specified area?

So I wanted to know, but nobody has been able to answer me. Can an indorsement be made anywhere on a check, or does it always have to be made in the designated space on the back of the check?
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1answer
45 views

In the US, do brokers or mutual fund managers typically help clients calculate capital gains for tax purposes?

I realized the calculation may be a bit complex to do manually, specially when you buy/sell several times during the year at different prices, set dividend to "reinvest", etc. They should be able to ...