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4

If you know what bank your parents used, call them and ask. (Or you might have to go there and show id). Chances are if such an account exists, it would be at the same bank. You can also search for unclaimed property. Here's the information link for Florida.


2

If you're in the UK, there's a free service here that lets you trace lost bank accounts. If you're in a different country, try Googling to see if that country has a similar service.


3

Lenders want to judge the stability of the stated income. Because your are new to being self-employed they are concerned about your viability. It may be possible to find another lender who will consider a shorter term of business, but it looks like the lender wants 24 months of business. You should start with your current bank/credit Union, and if they say ...


3

Options A and D are obviously irrelevant being completely illegal. Doing so may result in criminal tax fraud/evasion charges. Options B and C are essentially the same. You report all of the income as your rental income on your Schedule E. You then deduct qualified expenses. The portion you pay your landlord is essentially rent, and you can deduct it (it ...


6

First, the basis is what was paid for the house along with any documented upgrades, any improvements not consider maintenance. Any gain from that point is taxable. This is the issue with gifting a house before one passes. It's an awful mistake. The fact that there was a mortgage doesn't come into play here nor does the $15K given away. Your question is ...


7

Your mortgage terms are locked in; the servicer/new owner cannot change the terms without your consent, but the servicer can be more aggressive in taking action (as specified in your mortgage contract) against you. For example, if the mortgage agreement calls for penalties for missing a payment or making it late, your friendly neighborhood banker might ...


9

The relationship between assessed value and fair market Value is zero. In some jurisdictions they are in lock step, in other cases they are not. Some places only reassess every three years (Maryland), others every year. Some places also limit the maximum jump is assessed value between re-assessments, others have no limit. In fact in a hot market, or a ...


17

Are my mortgage terms locked in? Who oversees this? Yes your terms like rate, balance, penalties, due dates, are all covered in the mortgage documents. Those will not change. If the mortgage is an adjustable or has a balloon payment those terms will be followed by the new company. That being said, mistakes can be made. Double check everything. I had a ...


2

You would need to check the original mortgage papers you signed with the originators. Chances are you agreed to allow the mortgage to be sold and serviced by other parties. Refinancing would also put you in the same boat unless you got them to take that clause out of the mortgage/refinance papers. Also, chances are most small banks and originators simply ...


5

You are correct, a possible Dead Cat Bounce is forming on the stock markets. If it does form it will mean that prices have not reached their bottom, as this pattern is a bearish continuation pattern. For a Dead Cat Bounce to form prices will need to break through support formed by the lows last week. If prices bounce off the support and go back up it could ...


5

It's the same result either way. Say the bills are $600, and you are reimbursed $400. You'd be able to write off $400 as part of the utilities that are common expenses, but then claim the $400 as income. I'd stick with that, and have contemporaneous records supporting all cash flow. You also can take 2/3 of any other maintenance costs that most ...


1

You cannot do a 1031 exchange with stocks, bonds, mutual funds, or ETFs. There really isn't much difference between an ETF and its equivalent index mutual fund. Both will have minimal capital gains distributions. I would not recommend selling an index mutual fund and taking a short-term capital gain just to buy the equivalent ETF.


1

I don't believe you can do that. From the IRS: Finally, certain types of property are specifically excluded from Section 1031 treatment. Section 1031 does not apply to exchanges of: Inventory or stock in trade Stocks, bonds, or notes Other securities or debt Partnership interests Certificates of trust I highlighted the relevant ...


1

Look for an individual long-term disability policy that can do a temporary group plan offset in your policy and that otherwise converts to the full coverage desired when you cease to be a group member (i.e. you resign from the job or are terminated.) Essentially, such an individual LTD policy acknowledges you may receive benefits as a member of the existing ...


3

First, two preliminaries, to address good points people made in comments. As AbraCadaver noted, before you move your $30k to something that might lose money, make sure you have enough cash to serve as an emergency fund in case you lose your income. Especially remember that big stock market crashes often go hand-in-hand with widespread layoffs. Also, you ...


4

COULD it have been a scam? Sure. But there's nothing inherently suspicious about a rent-to-own scheme. Details would depend on exactly what sort of contract you drew up. But in general, the advantage of a rent-to-own plan to the buyer is that,(a) he doesn't have to meet the bank's criteria to quality for a mortgage, (b) he has the flexibility to decide not ...


0

Although this was indeed a wash sale, it's not clear to me why there was a basis adjustment since I sold all my shares and did not repurchase. However, looking more closely at my dividend reinvestment purchases, it doesn't seem to matter. On 07/02/2015, a dividend of $44.35 was reinvested into 1.083 shares. This was split between two transactions in the ...


2

Their paperwork should help you along. Schwab is the broker and custodian, you are the administrator. There's virtually no paperwork after the account is opened, until you hit $250K in value, and then there's one extra IRS form you need to fill out each year. See One-Participant 401(k) Plans for a good IRS description of form 5500. Disclosure - I use ...


11

For a person to totally skip the gift tax provision, the money must be paid directly from the giver to the school. For example, if the grandparents want to pay for college they can send a tuition payment directly to the school. Even if the annual tuition is $30,000. Normally, a person can give $14,000 to another person without having to reduce their ...


7

The pay date determines the tax year. That is the date they give you the check, or the date it is direct deposited. Knowing how many pay checks you will get this year will be important when determining how much from each paycheck to have withheld for a 401k, an FSA, or an HSA. as was pointed out by dave_thompson_085 in the comments: Publication 17 ...


2

Person 1 may walk into his bank and fill out a form for SWIFT payment.


3

The HSA contribution limits for a partial year can be very confusing. This is discussed in IRS Publication 969. There are two different ways to determine what your limits should be: the pro-rated limit and the last-month rule. Pro-Rated Limit The standard way to handle the contribution limit for a partial year is to pro-rate the limit for the number of ...


0

Not quite as you ask. You see, the earnings of a Roth 401(k) are intended to not be taxed, ever. So the Roth 401(k) rolls right to a Roth IRA with no tax consequence. Any employer match would be in a traditional 401(k) and therefore roll to a Traditional IRA.


4

The I-9 form is required because you are working. It is kept by the employer as proof that you have the proper documents to work. If the government was to inspect their records they can be fined if they don't have those document, in fact they have to keep them for several years after your employment is done. A w-4 form is a federal tax form. There also was ...


1

That is correct. The form is attached as an additional schedule to your tax return (form 1040) and is considered an integral part of it. Your signature on the form 1040 (and the jurat on it) covers also the attached form 8938.


6

Any thing can be a scam. More so when a deal of any kind seems to good to be true. In this case, you need to ask why the seller is motivated. If the townhouse is worth what he's asking for it, how does it benefit him to rent (to you) to sell it? There's something to be said for going with your gut. At the very least, check out the neighborhood (I live in ...


4

H.R. basically consults Publication 15 (this is the link to 2015) to determine how much to hold, based on filing status, exemptions, and pay amount. What's described here is a form of estimation, or, in other words, H.R. withholds what would be your actual taxes, dividing across the number of paychecks you receive. Assuming your gross pay and exemptions do ...


5

If your payroll payments are the same each period, you will generally have the same net pay per period. Some things that can cause variations: Your change in pretax deductions such as 401k contribution, HSA contribution If you are highly paid, once you earn $118,500, you will no longer have FICA withholding, and your paycheck can increase Certain state ...


-1

No, you will (generally speaking) not see a decrease in your net earnings from crossing a tax bracket: The US utilizes a progressive tax system employing marginal tax rates divided into brackets. This means that your highest marginal rate (the top bracket you fall into) only applies to the portion of your income that is in that bracket, not your total ...


3

It seems that you are misunderstanding how your taxes are calculated. You seem to be under the impression that once you pass $37,450 annual income, ALL of your income will be taxed at 25%. However, in reality, only the income you earn above that amount will be taxed at 25%. You can use this chart to determine exactly how much federal tax you will pay; As ...


2

In general no, if you just have one employer and work there with the same salary for the whole year. Typically an employer does tax withholding by extrapolating your monthly income to the entire year and withholding the right amount so that at the end, what is withheld is what you owe. It's not a surprise to them when your income crosses a tax bracket ...


28

Most countries with income tax, including the USA, design their withholding system so that in straightforward cases, tax is withheld from each month's paycheck on an annualized basis: tax for a month is calculated on the assumption that you will keep earning the same monthly amount for the rest of the year, and the withholding is set so that the tax is ...


0

Going through the company does put you at risk if your employment ends. The last time I switched companies I was offered via COBRA the ability to extend the LTD coverage for an additional 18 months. Because the new company had a similar plan, there was no need to investigate all the costs and provisions of the COBRA LTD. You could check with HR to see ...


0

Yes, the losses can offset the gains. There is a limitation: S-Corp is disqualified if it has more than 25% of passive income. So unless you earn 3 times more than your income from these sales, you're going to end up with C-Corp and double taxation. Investing via S-Corp is a very bad idea.


0

The requirement is to report the highest balance on the account, it has nothing to do with your income.


0

If HSBC is an option for the country in which you're living I found they have very comprehensive banking services which are very helpful as an expat, including easy wire transfers initiated online. One key aspect is they will honor your US credit score which is helpful while you build a credit history in the new country. If you have enough on deposit with ...


0

It would NOT be considered rent. She is an owner and so her money would count as a payment on the mortgage. The rent/income question would not come up to the IRS because if and when you were ever audited she can show that she made payments toward the mortgage to you and you paid the mortgage with that money. The only time the IRS would come into play is ...


0

Register an account with multiple transfer services and see who will actually give you the best rate, including any fees charged by the service itself, at the time you want to make the transfer. Research the available methods to get the money into and out of the transfer service to five the lowest cost options, which would ideally be free on both ends. Be ...


1

Your over-thinking this. As long as the owner has the title and the vehicle is titled in there name they can sign it over to you then you can take it to the DMV and put it in your name. If they do not own the vehicle because they are still making payments then you will also need the signature from their bank or lien holder. You can ask to see their ID to ...


2

That 0.625% is the annual interest rate you'll receive. It is paid out in two, semi-annual payments. That is, every six months you'll receive a check for roughly 0.3125%. https://www.treasurydirect.gov/indiv/products/prod_tnotes_glance.htm


2

Because the money was withheld post-tax the money can be easily pulled out before the tax deadline. Let the trustee know that the withdraw is due to excess contributions. You will also have to pullout any earnings those excess funds had. You will have to calculate the earnings those excess deposits had. You should document your calculations so that if ...


5

The sale "closes", i.e.: becomes final, at a certain date at which the transfer deed is recorded by the escrow/title company. Until that moment the sale is not closed, and as such - not final. Until that time you can back out of the deal (with or without penalties, depending on the contract), and as such - the sale is not yet final. The IRS only cares about ...


5

The answer varies based on your location which you did not mention, but here in Minnesota (USA) I would recommend the following: Obtain and inspect the certificate of title to make sure that you are receiving a clear title to the motor vehicle(if the sellers does not have a title they must request a new one before I would proceed). Obtain a signed lien ...


3

Yes, you can pay for chiropractic and dental through an HSA. If you do this, you are essentially paying for these things with before-tax money. Your savings depend on which tax bracket you are in; for example, if you are in the 15% bracket, you will essentially save 15% on these expenses by contributing the money into an HSA, and then paying out of that ...


0

The law provides for "replacement" before or after the sale. In this case the 0.098 shares acquired on 7/2/15 are replacements for the shares sold on 7/8/15 because they are within 30 days before the 7/8/15 sale. The $3.23 wash sale adjustment lines up pretty well with the $3.14 loss posted on 7/8/15. If you dig a bit, I bet you'll be able to explain that ...


1

The IRS publishes the current information on their website: http://apps.irs.gov/app/picklist/list/formsPublications.html


0

Like for example I use transferwise to send $x to my dad's account in India, would it show my name as the depositor ? That would depend from bank to bank, it may or may not show your name. Would it be considered as income for my dad ? Assuming your parents are Indian Residents for tax purposes. No. It would be considered as Gift. Gifts between ...


1

Many so-called "back office" functions have been transferred to Salt Lake City in recent years. Many people are surprised to learn that investment bank Goldman Sachs' second largest U.S. presence is now in Salt Lake City. So, much of the customer servicing personnel for certain industries are now based in SLC (even JetBlue, which is headquartered in New ...


0

From my understanding as a seller, and having read through Amazon's 8 page calculation methodology document, the default is the ship to address, however the seller still has the option to charge the tax or not, only charge the state rate and local (city, county, district, etc.) rate(s), or even set their own self-determined default tax rate. In other words, ...


2

First step: go to https://www.annualcreditreport.com/ and pull your credit reports from all three credit bureaus. It's free; that's the legally mandated site where they have to let you have the details of your credit report once a year. You won't get your credit score that way, but each company makes it easy for you to get that if you really want it (and pay ...



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