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

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0
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2answers
55 views

Does keeping 'long-term' safety net in bonds make sense?

I was looking at various advices regarding safety net and emergency fund. Usually most sites recommend using the savings account and CDs as a safety net. As CDs/Savings are FDIC insured it's 'safe ...
0
votes
1answer
22 views

Do I need to pay income tax for money earned in the U.S. & transferred to my account in India?

I have a web site which generates around 10K every month. This amount is directly credited to my bank account from Google USA account. Do I need to pay tax in India? Please advise. I am very new to ...
4
votes
1answer
157 views

What to do if I get refunded by my 401k for being considered HCE?

If my employer gives back some of the money I put away on my 401k because I am considered a HCE, can I turn around and put it back into an IRA to avoid paying taxes and penalties that year? I am over ...
3
votes
2answers
289 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
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3answers
59 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 ...
7
votes
2answers
253 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 ...
1
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1answer
36 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. ...
1
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1answer
46 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 ...
19
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4answers
11k views

How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?

I am curious how a millionaire would guarantee the safety of his money, given that the FDIC only insures up to $250K of an individual's deposits at a bank. If someone had $3 million that they wanted ...
2
votes
2answers
90 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 ...
1
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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
1answer
66 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?
2
votes
2answers
65 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 ...
7
votes
1answer
585 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 ...
2
votes
1answer
46 views

Real estate loans for repairs

I am very interested in purchasing a foreclosed home that is sold by Freddie Mac. The outside looks great, but the inside needs some work. Basically, the previous owners took everything including the ...
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
2answers
659 views

How much tax should I pay in US on interest earned on my NRE a/c in India?

I am a person on H-1B who passes Substantial Presence Test. I have transferred money which I saved from my salary to my own NRE account in India. I think that I can transfer any amount without paying ...
6
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2answers
148 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
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1answer
29 views

(US) What is the deduction for gifts of appreciated stock with restricted registration rights?

I have appreciated stock that I am allowed to give away to charitable transferees, but those transferees will have restricted registration rights for 12 months. They cannot sell the stock for 12 ...
1
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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
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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 ...
0
votes
2answers
91 views

Does making credit card tax payment through service provider constitute IRS form 4868 extension request?

If I pay the amount due on my extension for US IRS form 4868 through an IRS approved payment provider that accepts credit cards such as PayUSAtax.com who charge 1.87% for the service and I designate ...
3
votes
1answer
34 views

What is the added advantage of a broker being a member of NFA in addition to IIROC

If my broker is a member of the national futures association, what extra protection does it give me over the fact that it is also a member of IIROC? I am particularly referring to this: ...
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
1answer
182 views

How do I judge if I am being made a fair offer by a car insurance company?

My girlfriend got into an accident with her (registered under my name) 2003 Honda civic. She was pulling out of the drive way (taking a right, basically parallel to the road) and got hit on the ...
2
votes
1answer
73 views

Better to get loan from finance company or bank considering the drop of credit score?

I want to know if there's a difference between getting personal loan from a finance company or a bank, considering the drop of credit score/grade (assume all other aspects are exactly the same)? I've ...
1
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1answer
136 views

Buying property in India : joint owner

I am on H1b visa in USA and thinkg about buying property in India. I have a lot of confusion in this matter. Should I buy property on my own name? or me and my father's joint name? If I keep my ...
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% ...
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 ...
0
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2answers
83 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
39 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 ...
4
votes
2answers
264 views

How can someone with a new job but no credit history get a loan to settle another debt?

I was recently hit with a large personal debt, something that can't go against my credit score, but might if it ever went to court/collections. However, it came unexpectedly, and I am now looking for ...
0
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1answer
23 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
34 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?
-4
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2answers
77 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?
6
votes
4answers
861 views

Why do I need an attorney to buy a house?

I thought my real estate agent would cover the whole thing. How does an attorney get involved? Why do I need to hire one on my side? I ask this because I have read about it in first-time buyer help ...
5
votes
4answers
735 views

Can I use an FSA from multiple employers in a year?

My current employer offers an FSA. For 2014 I have opted to contribute the maximum allowed which is $2,500. If, after using that $2,500, I switched employers and they also offered an FSA would I be ...
8
votes
1answer
2k views

Should I use a Roth 401K rather than 529 to save for children's college?

I have set up a 529 for my child's college fund but the more I look at it the less useful it seems compared to alternatives. The 529 is quite restricted -- What if she doesn't go to college? What if ...
1
vote
2answers
35 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 ...
0
votes
2answers
103 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 ...
0
votes
1answer
49 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
32 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 ...
1
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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 ...
3
votes
2answers
110 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 ...
4
votes
3answers
2k views

If I am Indian citizen residing in US and earning there, do I have to pay taxes to India?

Say, I am an Indian citizen and living and working in US, do I still have to pay some taxes to Indian government? My first thought is why should I be paying taxes to Indian government because neither ...
1
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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 ...
9
votes
6answers
1k views

Why would a car company lend me money at a very low interest rate?

Why would a car company lend me money at 1-2% when they could lend it to the federal government at ~2.9% with zero risk?
7
votes
2answers
1k views

I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan?

I am under 18, currently shopping for a car. Like many people, I don't have enough money sitting in my bank account to purchase a good car, around $6,000 to $10,000. However, credit checks have ...
0
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2answers
91 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
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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 ...