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Questions tagged [united-states]

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

2
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1answer
26 views

Why can't some funds be invested as a “US Persons” (= US fiscal resident, green card holder, or US citizen) from a French bank account?

I read that some funds cannot be invested as a "US Persons" (= US fiscal resident, green holder, or US citizen) from a French bank account. For example, I saw this warning in one plan d'épargne en ...
2
votes
0answers
39 views

how does paying back a sign on bonus affect your income taxes?

It's not uncommon for sign on bonuses to have a provision wherein if you leave the company before a certain period of time (let's say 2 years) that you have to pay back the sign on bonus in full. My ...
0
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0answers
31 views

The United States: Can the low interest rates of the treasury lead to hyper-inflation? [on hold]

As many of you are aware, the us treasury has been slowly hiking interest rates since they were at 0% sometime during the 2008 recession. While the treasury hiking interest rates slowly gives some ...
1
vote
2answers
167 views

Is a Masters degree in a high-paying field worth it? [on hold]

I give as a follow-up to my first question, a more reality-driven premise and question. I ask: Is a Masters degree in a high-paying employable field worth it? You need 4 pre-Masters (aka post-bacc) ...
0
votes
1answer
46 views

Why 1099-MISC for LLC but not a corporation?

I have a couple side gigs, and every January I get a little annoyed because I need to send out 1099-MISC forms for various payments to contractors and the like. According to IRS rules you must send ...
2
votes
1answer
143 views

What are the tax implications of renting out my condo if it's worth less than the mortgage?

I own a condo, and its market value is less than what I owe on the mortgage. On the upside, several interesting developments are going in nearby in the next couple of years. Because of some lifestyle ...
2
votes
0answers
22 views

RSU taxation: am I being over-taxed?

I'll preface the details here by saying that I'm guessing the answer to the question is no, but I'm trying to understand what piece of information I'm missing here with regards to the following ...
6
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1answer
50 views

Using a healthcare Flexible Spending Account at the same time as a Health Savings Account?

Here is my situation: I have the high deductible insurance plan. The coverage includes my wife, dependent daughter and mysef. I contribute to an HSA. My wife has her own insurance through her ...
2
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0answers
103 views

if you're a federal employee and you quit during the shutdown will you still get backpay?

Right now there are 800,000 or so furloughed federal employees that aren't being paid. Many of these employees are being forced to continue working despite not having received a paycheck. My question ...
0
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2answers
45 views

IRS Tax Rules for Capital Gains on Sale of Stock

Bob has a stock that is worth 50% more than what Bob paid. Bob would like to avoid paying tax on the gain so he donates 10% of the shares shares to a charity through a donor-advised fund. Bob decides ...
18
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6answers
4k views

What are things to think about when paying for/taking out a loan for graduate school? [on hold]

I haven't seen a lot of posts related to graduate school in this SX, but I apologize if there are. I bolded the crux of my question. I'll apply my situation to this question as an example: I got a ...
5
votes
1answer
70 views

HSA and Medicare: what if I get laid off?

I'm approaching 65; will continue working for a large company; will not be taking Social Security; have a high deductible insurance plan through my company which I will continue using (so will not ...
0
votes
1answer
71 views

Switching from W-4 to W-9. What should I be aware of?

I'm a welder in California. I recently talked with my employer and mentioned that since you can't deduct expenses as a W-4, I wondered what he thought of hiring me as a W-9 so that I could write ...
5
votes
1answer
148 views

How to deal with IRS notice during the government shut down?

Last friday, I received a mail from the IRS stating that there was a discrepancy in my filing of personal taxes for 2016 vs what was reported by other institutions. The letter did not go into detail ...
0
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3answers
72 views

Going from a 1099 to W-2 job, must I pay estimated taxes?

In 2018 my spouse worked full-time on W-2, and I worked entirely on 1099. She had taxes withheld, but circumstances prevented me from paying any estimated taxes, so we'll certainly have a substantial ...
0
votes
1answer
43 views

Trading in commodity futures and options - How to go about it? [on hold]

I would like to trade on options specifically the commodity kind like the ones available on CME. Which platforms allow me to do that? What are the costs involved etc. ?Can some one please point me in ...
2
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0answers
61 views
+50

Are LLC membership interest purchases taxable?

My job has offered me an associate position which means I will become a member in the LLC. The cost for 250 units (membership interest 2.25%) is $25,000. I will get profit sharing of 2.25%. The LLC ...
1
vote
1answer
82 views

What should/can I do, now that I’ve closed the single-member LLC I used for freelancing?

I freelanced full-time for 6+ years through a single-member LLC, which I closed at the end of last year after I moved to a new full-time job. I was a user experience designer/researcher and designed ...
1
vote
0answers
67 views

Buying business product for a business associate that's abroad

I was wondering if there's any legalities regarding the purchasing of product for a business associate that is abroad? I would buy the product and he would reimburse me the money. The products are ...
0
votes
1answer
102 views

Why do most HSA administrators require accountholders to have a minimum amount in their HSA before they can open up an investment account?

I read on an article at Nerdwallet titled 5 Health Savings Account Rules You Need to Know (mirror): Irvine warns that the majority of HSA administrators require the accountholder to have a steep ...
4
votes
3answers
200 views

How can PG&E intend to go thru Chapter 11 Bankrupcy on January 29th before lawsuits even find them financially liable from recent California fires?

PG&E intends to file for bankruptcy on January 29th. They state it is largely due to the estimated $30 billion in liabilities from the recent disasters, fire suppression costs, and attorney fees. ...
2
votes
0answers
104 views

Student loans paid already but collection agency claiming loans are in default

I paid off my student loans via pay garnishments and the IRS taking 3 to 4 years of my tax refunds. Unfortunately, I have moved 5 times in last 2 years and I cannot find my files confirming this. ...
48
votes
5answers
16k views

Handling waitress unclaimed pay from three years ago

Each week our boss gives us payslips with our hours worked and we can cash them right at the place of work. Pretty simple. You get a receipt for your hours worked for the week and a slip to turn into ...
1
vote
1answer
51 views

Can I deduct 529 college savings plan contribution from California income tax as a gift?

When I contribute to a 529 college savings plan, can I deduct the contribution from my California income tax as part of the gift tax exclusion (up to $15000)?
2
votes
2answers
269 views

HSA withdrawals for past years?

A hypothetical individual living in the US opened an HSA account in 2016. She was enrolled in a high deductible health care plan in 2016, 2017, and 2019. She kept records of all her qualified medical ...
0
votes
1answer
50 views

Recent Green card holder. From US, how to Transfer money from my Indian SB AC to my recently opened checking account in US

Recent US Green card holder not NRI, as came to US just 2 months back. After coming to US, how can I Transfer money from my own savings bank account in India (No NRE or NRO A/C) to my recently opened ...
0
votes
3answers
210 views

Is it reasonable to charge extra for additional tenants in a single room?

I’m considering subleasing rooms within a single family home. I expect that one of my potential tenants will have their significant other boarding with them. It was originally expected that only one ...
0
votes
1answer
49 views

Why does it take “3 to 5 business days” for the trades to execute with Health Equity HSA accounts?

When making a trade with Health Equity HSA account, there is a notification: NOTES: The number of shares or the amount of the trade is only an estimate. The exact amount will depend on the ...
0
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0answers
46 views

Taxes and Minecraft servers [duplicate]

I am a teenager who plans to start a Minecraft server. I live in the United States and I assume that I will need to pay taxes. My parents want to find out more about the taxes. I've read a couple of ...
6
votes
4answers
262 views

Products for withdrawing from a home's equity?

I am a current homeowner with a property that has no mortgage (everything has been paid off). A family member is in need of some cash to consolidate some credit card debt and I would like to help them ...
2
votes
1answer
115 views

IRS letter received after response due date

Today (January 12, 2019), I received a letter from the IRS dated December 10, 2018 (I live in Germany). The letter has a "response due date" of January 9, 2019. Obviously, I wasn't able to reply to ...
2
votes
1answer
128 views

What happens if I don't pay utility bill even after repeated customer service interaction to stop the service?

It's a slightly long story. I live in an apartment building in MN (US). There was a mistake when I moved in and eventually the gas utility for the building remained in my name. Usually it is supposed ...
2
votes
2answers
106 views

Is it more difficult to reverse a fraudulent check if it is cashed at a check-cashing service rather than deposited at a bank?

Say that someone gets ahold of my checking information and writes a fraudulent check from my account. Then they cash it at a check cashing store. I notice a week or so later, call my bank, and report ...
4
votes
1answer
90 views

Social Security disability 10 year rule

I am 62 years old and have worked all my life. In 2007 I started teaching high school to give back to my community. Now I discover that since I have worked for a school district and made no Social ...
2
votes
2answers
141 views

Does “community property” apply to day-to-day finances or only during a divorce?

What is the scope of the "community property" concept? Does it have any practical meaning in the scope of day-to-day finances for a married couple or does it apply to their finances only if divorcing?...
2
votes
2answers
124 views

I'm over the MAGI limit for 2018 for the Roth IRA I already contributed to. Now what?

At the beginning of last year, I contributed the maximum amount to my Roth IRA, as I typically do. Late in the year, I received a very unexpected and very large bonus. I realized when I got my 1040 ...
8
votes
1answer
242 views

If I claim my parent on taxes does that make me responsible for their past debts?

I have supported my parent for most of the year and paid for everything. Housing/food/transportation and other things. So I want to claim them on my taxes. My concern is this: They have a large ...
3
votes
2answers
128 views

How best to apply back Student Loan Refund?

After completing Undergrad December 2017 I began making payments on my student loans (#1-5 below), paying more than necessary on the smallest balance of my 6.8% loans (usually owe $340, paying $500). ...
0
votes
0answers
39 views

How much should I earn before registering an LLC? [duplicate]

So, I want to quit my hellish day job and freelance/run my etsy store full-time. I'm considering registering an LLC, but I'm currently having second thoughts about whether or not I need an LLC. at all,...
0
votes
2answers
95 views

Limit on Maximum amount to open a Roth IRA

Is there a limit on what is the maximum amount that I can use to start a Roth IRA? What I mean is if I have $100,000 (taxed), can I open a Roth IRA with this amount and then continue with the annual ...
5
votes
4answers
353 views

Is home equity worth taking out a mortgage when I have $67k student loans to pay?

Note: home equity isn't the only reason I'm thinking about buying. I'd like to have control over my own living environment, more space, not have to worry about annoying the apartment unit upstairs if ...
0
votes
0answers
22 views

How can I find historical real estate sales data by ZIP code? [closed]

I am looking to invest in small multi-unit housing properties, but would like to know more about long-term sales price trends in the region of interest. I am new to real estate investing. Are there ...
1
vote
1answer
64 views

Roth IRA Nondeductible basis

I've been using TurboTax to file my taxes for the past decade or so. Since 2015, for income reasons, I have been making after tax (nondeductible) contributions to a Traditional IRA, and then ...
2
votes
1answer
117 views

Maximum Roth IRA Contribution in 2019

What is the maximum contribution for a Roth IRA in 2019? I believe it was $5500 in 2018 and curious if it had been increased. Thanks
1
vote
1answer
94 views

Will closing my bank account cause my credit card to also close?

I've been with Comerica for many years now. I opened up a credit card with them about 4 years ago. It's my only credit card. I opened up the account to help build credit; it's in good standings and I'...
4
votes
1answer
103 views

Double dipping Medicare payments

I am 78 years old. I collect Social Security, and am on Medicare, and also work part time paying SS and Medicare premiums. Since Medicare is being deducted from my SS every month, can I get refunded ...
23
votes
8answers
9k views

Why did the federal government ever allow taxpayers to deduct their state taxes from their federal taxes? [closed]

At the end of 2017, President Trump signed into law the Tax Cuts and Jobs Act with among other things eliminated the federal tax deduction for state taxes paid. Essentially, the federal government ...
1
vote
2answers
76 views

Credit Union Merged Credit Card transferred to new bank Credit Score Drops 30 points

I live in the USA. I was a member of a small credit union which has merged with a much larger one. I kept a credit card with the small credit union because my interest rate was only 5.75% When the ...
1
vote
0answers
162 views

Are there legitimate reasons to cover part of the vehicle identification number (VIN) that is visible through the windshield?

A friend of mine, living in USA, went to check on a car being sold by an individual. He told me that the vehicle owner had covered part of the VIN that would have otherwise been visible through the ...
2
votes
3answers
233 views

Is a traditional or roth IRA preferable at my income level?

Before taxes, I make $16k a year, which is not much of an income. I've been told that people who have low incomes should get a Roth IRA since they won't make much money off of tax deductions, so I got ...