Tagged Questions

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

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3
votes
2answers
263 views

In-laws moving in (financial/tax implications)?

We are contemplating moving into a house with an in-law suite in Mississippi and our inlaws selling their house and moving into it. We would pool the sales from both houses as downpayment on the new ...
1
vote
3answers
44 views

Are contributions to ROTH IRA/401k effectivly bigger then to IRA

I've just moved to US and I started considering savings/retirement options (I'm mid-20 but I don't think it unwise to start early). I'm trying to max the contributions. I started to think if the ROTH ...
1
vote
1answer
42 views

Is there a time limit on claiming medical expenses for HSA?

I use my HSA as a savings vehicle. From what I'm reading it seems that there is no limit on the time between when the expense was incurred and when it can be claimed against an HSA except that you ...
1
vote
1answer
34 views

Any minimum 1% tax on taxable-income for low bracket and large capital gains?

Is there any 1% minimum tax on taxable-income [similar to AMT for high-income] when you are in low 15% bracket and have substantial long term capital-gains? e.g. US, single, std-deduction, 2014. ...
2
votes
2answers
82 views

401k vs. real estate for someone who is great at saving?

I'm a great saver, and I have no trouble saving at least 40k a year. I'm 25. I'm still not too sold on the 401k idea though... because I feel like it would chip away at my savings/income, money that I ...
7
votes
1answer
578 views

Can my employer change wage rates based upon medical coverage choices?

Prior to this year my employer used to reduce our hourly rate if we elected to enroll in one of the employer sponsored medical plans available. This reduction in rate was in addition to any weekly ...
1
vote
1answer
41 views

Mortgage loan and move money to US

If I re-finance or get mortgage loan from my existing property in my home country, and move money to the United States, which taxes do I need to pay (Income tax? Interest Taxes?) or what shall I take ...
1
vote
1answer
39 views

Should I file FBAR for the 1st year of permanent residency

I was not US resident (or B1/B2) and not in the U.S in preceding days before Nov. 2014. I get permanent residency and stay few weeks, and leave US due to the job in foreign country. I do have foreign ...
2
votes
2answers
63 views

Brokerage's calculation of my profits or losses on stock trades

I've noticed that my brokerage (Wells Fargo) uses a different system to calculate my profits and losses, instead of the mental accounting I follow. E.g., I buy 100 shares of stock A in July 2014 at ...
-2
votes
1answer
65 views

Selling units/shares in my startup to my Roth IRA

Since I can't transfer/gift shares directly to my Roth IRA, what's the most tax-efficient way for my Roth IRA to take ownership of as many units of my startup as possible?
-1
votes
0answers
24 views

H4 visa and Gifts, can I send gifts

I am on H4 visa here in USA since last 3 years and my spouse is on H1B visa working. My spouse gifted to some $$$$$ amount, can I remit/transfer to india as a gift to my Parents and InLaws. What are ...
1
vote
3answers
100 views

How do I dispose of my old checks?

I have several stacks of unused checks from a few old checking accounts of mine. How long should I keep the checks after I close each account? How should I dispose of them? Should I destroy them ...
1
vote
0answers
35 views

Building credit history as a young foreigner

I moved to the US for college, and have decided to stay in the Bay Area. As soon as I found my first internship, I applied for a credit card. Currently, I have 3 credit cards, and the oldest card is ...
1
vote
1answer
44 views

Condo Loss Carryover to offset IRA Distribution

I recently sold my condo with carryover loss exceeding $100,000. Can I use that loss to offset the distribution from an IRA account(regular income) during the same year? I am 66 years old. The ...
2
votes
2answers
67 views

Sales taxes on Groupons or LivingSocial coupons?

Say I buy a $10 Groupon that lets me buy $20 worth of food at a restaurant. I go to the restaurant and order items that add up precisely to $20 (based on the menu price). If the state sales tax is 6% ...
0
votes
2answers
82 views

First time homebuyer/investor: How to best allocate money towards paying off mortgage?

I am 23 with no debt and planning on purchasing a house. I've been running through many hypotheticals and decided to post an example to see what others think since this is a significant decision. I ...
1
vote
1answer
37 views

Selling Property In India

Bought a under construction property on H1B (USA), got permanent residency in 2010, got house possession in 2011, paid the house now through a NRE/NRO account, if I sell the house now, what taxes I ...
7
votes
2answers
247 views

How (or is it necessary) to rebalance a 401k with only one index fund?

I put 100% of my 401k into an S&P index fund. Do I need to rebalance that, or is rebalancing only necessary when you have multiple asset allocations such as 80% in stock, and 20% in bonds and ...
0
votes
1answer
21 views

How does agreed value insurance work with inflation?

In an agreed value insurance plan I understand that the number X is the amount that will be paid out upon loss. However I have two questions in regard to this: Upon renewing my policy yearly am I ...
0
votes
1answer
33 views

Do I pay taxes on my SSI benefits

I receive $705 per month on SSI and LTD $456 per month total for the year is $13800 do I have to file tax returns?
1
vote
2answers
34 views

FSA when a retirement agreement has been put into place

If I take advantage of retirement incentive in which I agree in November to retire effective June 30 of the the following year, can I may I make the same elections for the FSA as if no such ...
6
votes
2answers
147 views

Is it possible to reject a direct deposit?

I received a direct deposit on my bank account (in the US): is it possible to reject it?
0
votes
2answers
31 views

How to change the default validity length of a check in the US when emitting it?

Checks issued by US banks are typically valid for 180 days, although it might vary depending on the state and the bank. When writing a check, how can I change its default validity length? I sometime ...
0
votes
1answer
47 views

How long are checks issued by Bank of America valid?

I am writing a check using my account at Bank of America. How long will it be valid? In other words, how much time does the recipient have to cash it?
0
votes
2answers
101 views

What are ways to increase my income after taxes?

I live in MA, USA. I recently got a job and feel like almost half of what I earn is going to taxes, and putting money in bank doesn't give enough interest. So what options do I have (like invest in ...
-4
votes
2answers
76 views

Employer 1099 Pointing to the Old Address Instead of New Address [closed]

Maybe I did not explain the situation correctly. My wife was in TEXAS but the company used her old address (California) address in the 1099 forms. What can I do to remedy the situation?
3
votes
2answers
109 views

Does it make sense to look for medical plans outside “Obamacare”?

Does it make sense to look for medical plans outside of the ACA Exchanges (such as the https://calheers.ca.gov/ in California), or are those as good as it gets? If it's illegal for the insurer to ...
1
vote
2answers
31 views

Question about being a Resident Alien for Tax purposes

I've been in the United States since January 2009 under an F1 student visa. Since that time I have left the united states only once in December 2009. For the past few years I've been filing taxes as a ...
0
votes
2answers
89 views

What happens to bonds values when interest rates rise? [duplicate]

I want to invest 10% of my portfolio into bonds. The other 90% will go into stock. I took a look at Government Bonds which TD Ameritrade offers at a $5000.00 minimum. This is a little over my ...
1
vote
2answers
45 views

What method can be used to estimate additional withholding so no taxes are owed on filing?

For higher income households, standard withholding is insufficient to pay the income taxes owed. For example, one family claimed 4 people last year and the two income earners each did M-0 yet still ...
1
vote
2answers
65 views

If I move money from my home country to the United States, what taxes need paid?

I am a permanent resident of the United States; I have not yet obtained the citizenship; If I move money to the United States which taxes do I need to pay? Income Tax? Interest Taxes?
2
votes
2answers
52 views

Calendar year changes and Out-of-Pocket reset

I have been with a School District for three years. This last year I had major surgery. I met my deductible and by August I reached my OOP max. In September the district got a new plan. They made ...
1
vote
1answer
44 views

Freelancing from India to US employer: Can they deposit pay to my US Account?

I recently moved back to India from USA as I didn't get H1B Visa. I have started working for same company from India as a contractor. I still have my bank account active in USA. Can my company ...
0
votes
1answer
51 views

What taxes does a US citizen doing freelance work (self-employed) in the UK have to pay to the US government?

Currently I'm a US citizen living in the UK on a Maltese (EU) passport. While I have worked full-time for companies here in the UK, I've recently had an offer to do some freelance work for a company ...
2
votes
1answer
47 views

Can you take a capital loss upon sale after probate action assigns a different value?

I'm exploring an option for unwinding a real-estate investment with my step-father. Please assume that we're both amicable towards any viable solution. My step-father is currently the sole owner of ...
1
vote
1answer
56 views

Is per diem taxable?

Earlier this year, my employer reimbursed $500 that I paid out of my own pocket for travel expenses as per diem. I was not charged any tax on that, so I was wondering whether it would be taxable at ...
1
vote
1answer
50 views

Self directed IRA holds income property that generates cash flow. Can we withdraw based on wife's age?

I have a self directed IRA that has invested in income property. It generates a few thousand a month in positive cash flow which is currently being re-invested in other funds that the IRA holds. ...
2
votes
1answer
118 views

Is it legal to sell my stock at any specified price to a specified person in US Market?

Say I have 100 of apple (AAPL) shares and it's worth above 100 US Dollars now. I want to literally give them to my friend at a very cheap price because he helped me in some other stuff. So I want to ...
1
vote
1answer
38 views

How does AMT/state taxes work for stock options in California?

I'd like to know how to roughly calculate tax for stock options, for the following fictitious scenario: Suppose Little Susie joined a rare private company in California as a normal employee, and ...
0
votes
1answer
55 views

Ready for my first home

1.Apply for a mortgage I have heard that I should shop for many lenders. Here is a few questions related to this: 1.1 My friends tells me that I should look for a good lending company and I should ...
2
votes
1answer
37 views

Do US mutual funds and ETFs pay taxes on dividends?

If I am a US citizen and want to invest in a US fund (e.g. a mutual fund or an index fund), which also invest in a number of US stocks, what happens when the fund I invest in receives dividends? Is ...
6
votes
2answers
364 views

How secure is my 403(b)? Can its assets be “raided”?

I work at a state university and contribute to my 403(b) retirement account on a twice-monthly basis, maxing out the matching funds. I also contribute a smaller amount to another account, after ...
1
vote
2answers
52 views

How do I use the voting rights associated with my U.S. shares?

I have an account with a Swedish broker which provides access to several markets, including NASDAQ and NYSE markets in the United States. On the broker's website, it says how to vote at the annual ...
0
votes
2answers
58 views

Do I need ITIN as Japanese citizen to get my deposited money back?

I am Japanese girl. I was a student in US and have deposited some money in bank account. I am back to Japan now. I am filing the W-8BEN. Do I need to submit the following to get my full money back ? ...
1
vote
2answers
39 views

How is non-deductible portion of Traditional IRA determined at time of withdrawal?

I've contributed $5500 to a Traditional IRA, planning for that to be tax deductible. My employer didn't have a 401k plan earlier in the year, but will have one implemented before the end of this year ...
1
vote
0answers
43 views

Cost basis step-up on inheritance of real estate

Assume there is a property owned by a couple with one son. When one parent dies, s/he bequeaths one half interest in the property to the son and half to the spouse. Two years later the property is ...
3
votes
2answers
157 views

Are medical deductions and FSAs mutually exclusive?

I understand that medical expenses in excess of 10% of gross income can be deducted with a Schedule A. Can I do this even if I use a medical FSA (excluding the reimbursed part, of course)? For ...
1
vote
1answer
112 views

What would current US interest rates be if left to the free market? [closed]

Suppose that the Federal Reserve did not conduct any open market operations and allowed interest rates to freely float, while the treasury continued borrowing to fund the budget deficit. What would ...
0
votes
1answer
71 views

Income Tax Refund

I used to work in Maryland, United States from 1999 to 2002. During this I paid all taxes: Federal Income Tax Social Security Tax Medicare Tax MD State Income Tax I returned back to India during ...
2
votes
1answer
241 views

Did the New York Stock Exchange ever close on a weekday so they could file paperwork?

I recently heard that the New York Stock Exchange used to close once a week so that they could organized the paper trades. I can't find anything online about it. Does anyone have and insight here.