Questions tagged [united-states]

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

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what is more to Market Capitalization formula?

I wonder what is more to Market Capitalization formula ? I am mostly an ETF investor, but follow some stocks with few # of shares and when I look at SPCE about 4-5 years ago its market capitalization ...
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How can I check progress on an EIN application?

How can I resolve my case when the IRS doesn't provide a mechanism for me to obtain updates? I registered an LLC and would like an EIN to open bank accounts. I filed an SS-4 in May. The SS-4 was ...
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Which state to open estate account of decedent

My father passed away in New York without a Will and i live in Texas, only son and heir. Should i open up estate account in New York or Texas?
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-1 votes
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What's new in the IRC Sec. 423 that caused that for many employers the benefit to employees is not worth the cost of managing the plan?

I read these comments: littleadv 3 hours ago: Do people still have ESPPs? Became a rather useless instrument, at least in the US . OP 3 hours ago Yes. Why useless?  littleadv 2 hours ago: Because of ...
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1 vote
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In which situations can a participant of an Employee Stock Purchase Plan (ESPP) receive an "ESPP refund"?

I believe one reason to receive an ESPP refund is if the ESPP doesn't allow participants to purchase fractional shares and assuming that the ESPP contribution was not a multiple of the stock price. Is ...
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2 votes
0 answers
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Is it safe to have a Standing Letter of Authorization for your financial advisor?

I have a financial advisor who manages my portfolio. That portfolio is stored in TD Ameritrade, and my advisor currently has the ability to make deductions from my bank account into the portfolio ...
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1 answer
33 views

Is it optional to take a passive loss deduction?

I'm in two partnerships that lost money due to the pandemic. Those losses are supposed to be offset by the government in PPPs and ERCs, but the full payment of those has not been received yet. Due to ...
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1 answer
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How to apply the basis limitation on a passive loss?

On IRS Form 8582, Part V (or worksheet 3 in 2020) tells me to enter the income or loss from my passive partnerships. Then Parts VII and VIII (or worksheets 5 and 6 in 2020) tell me to calculate how ...
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2 votes
3 answers
67 views

Personal contracting versus LLC

I am taking on a side project where I will be making a little under $100 US an hour for a few (5-10) hours a month. I do have a LLC already established in the same industry (fitness/teaching) in ...
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Why are U.S. treasury yields currently rising when the U.S. economy has likely entered a recession? [closed]

I understand that when investors’ confidence level is low, the demand for Treasuries will increase, hiking up Treasuries’ prices and lowering their yields. As a result, declining Treasury yields are ...
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3 votes
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How to buy I bond for child and spouse?

To purchase I bond I followed the steps below: Opened TreasuryDirect account using my SSN and other information. Purchased a I Bond under my registration. Created a new Primary Owner registration ...
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1 answer
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what is rule for 40 year retirement?

For 30 year retirement 4% rule is suggested to be followed. Suppose a prospective retiree wants to plan for 40years, what should be max withdrawal rate
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1 vote
1 answer
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Why federal tax seems deducted same amount every paycheck?

I notice that no matter how much pay I receive, my Federal Tax is always deducted the same amount. On my regular paychecks, around $2000, it is $65 for "Federal Tax". But I received other ...
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1 vote
3 answers
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Opening first credit card and car financing

I just graduated and I'm about to start a new job in the US in September. I haven't had a credit card before and I would like to finance a car, which is $34k. My monthly salary after taxes will be $5k ...
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Where can I sell Savings Stamps in an album

My 87-year-old father just found two partial books of 10¢ Saving Stamps from the 1960s belonging to my younger brother, and myself. Most of these stamps look exactly like they did the day we affixed ...
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2 answers
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Contribute to IRA when covered by 401(k)

401k situation : Both my partner and I have employer that provide 401(k) coverage and the employer matches certain percentage. We max out these options My 401k plan doesn’t give my much flexibility/ ...
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3 votes
1 answer
158 views

Possible to open multiple IRA accounts from the same institution?

Let's say I already have a traditional IRA account with a brokerage, and I've used it for tax deduction last year. Now, I want to use the backdoor Roth conversion method. From what I have ready, I ...
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1 answer
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How to look up Oppidan and Ebenezer financial statements?

Oppidan is a property development firm with headquarters in Minnesota. They partner with Ebenezer to run senior care facilities. I would like to know more about the finances of these two companies. ...
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2 answers
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Alternative to lack of biweekly mortgage payments

It is my understanding that biweekly payments that are applied to your loan reduce your principal 2 weeks before your monthly payment could lead to a shorter duration for the money owed. Please ...
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1 vote
1 answer
75 views

Is The Wash Sale Definition Vague, Or Am I Reading It Wrong?

From Pub 550, page 56 (or so), "Wash Sales" is defined as: "A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you: ... ...
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2 votes
1 answer
204 views

why 4% rule in retirement if S&P return is about 7%

Lots of planners and web sites suggest rule of 4% for 30 year retirement. Also per many sites US average return in stock market is about 6.5 to 7 %. So is the 6.5-4 = 2.5% is safety margin ? Any ...
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Investing in US and UK stocks through a foreign partnership

I am a partner in a partnership that I originally set up with a cousin to gain hands-on financial literacy by running a small web store with a physical collection point in the nearest town. Two other ...
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How to fill out California Allowances on the DE-4 form and Deduction on the W-4 form?

This is related to the question: In the US, how do we make tax withholding less if we lost our job for a few months? So the form that is similar to a Federal W-4 form is the California DE-4 form. For ...
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1 vote
0 answers
52 views

Tax implication receiving a payment in US from a company

I want to sell a property located in Asia. The buyer for whatever random reason wants to pay a part of the payment (500k usd) from a US corp account. I do have a personal US bank account, that is, it ...
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8 votes
1 answer
3k views

Can I paypal myself to get free money? [duplicate]

This quarter my credit card [Discover offers 5% cashback for using Paypal. At the end of the year, it matches all the cashback that I earned and thus I will earn a total of 10% cashback for using ...
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1 answer
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Are transferred funds from NRO Account to USA taxed?

I received my PF amount in my NRO account. If i transfer that amount to USA, will i be paying tax before transfer at Indian side or after transfer in US? Different websites give confusing rules, what ...
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3 votes
2 answers
373 views

Paid Cash for a car and dealer called me to return it 10 days later?

Bought a car cash from a dealer and traded in my car with a lien left over of $1100 dollars. We agreed after negotiations on buying used car for $23K and they would accept my trade for $5500 leaving $...
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2 answers
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Do businesses/trades issue 1099-NEC/MISC to only parent companies or only subsidiaries?

Do businesses/trades issue 1099-NEC/MISC to subsidiaries or only to the parent company? If the parent company is a corporation, but the subsidiary may or not elect taxing as a corporation, does the ...
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16 votes
3 answers
4k views

What is the meaning about the IRS saying that "copy A" is scannable but the online version printed is not scannable?

The IRS (Internal Revenue Service) 1099 form says "The official printed version of Copy A of this IRS form is scannable, but the online version of it, printed from this website, is not. Do not ...
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0 answers
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Working remotely for company based in NYC?

I am a resident of Philadelphia, PA. I got an offer to work for a company based in NYC. The position is initially remote for ~6 months, before becoming hybrid and forcing me to live in NYC itself. ...
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1 answer
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Emergency Fund: CD Ladder or I Bonds?

I've been living below my income for a while now, and built up an emergency fund of 12 months comfortable expenses/18 months bare-bones expenses. Currently it's sitting in a savings account earning a ...
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1 answer
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Is shareholder of A whose business travel cost reimbursed by company A once and receives no wages from A considered either employee or contractor?

Is a share-holder of company A who is paid for business travel costs by company A but does not receive any wages from company A and spends all their working hours for company B which has no ...
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2 votes
1 answer
51 views

What is the difference between "attorney's services" and "legal services" for 1099 box 10 guidelines?

Under section 6045(f), report in box 10 payments that: Are made to an attorney in the course of your trade or business in connection with legal services, but not for the attorney’s services, for ...
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2 votes
1 answer
105 views

Does side-job with W-9 get listed as 2nd job in W-4 for new job?

I have a question regarding "multiple jobs" since my 2nd job is as an independent contractor and has a W-9. My previous main job (W-4) did overlap with the side job, but I will not work the ...
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4 votes
0 answers
140 views

What are the Italian equivalents of 401K, Roth IRA and Savings account?

I am Italian and I consume a lot of internet content about saving and investing (that's why I am here too!). I often hear or read about: 401K Maxing out your 401K (and meeting your employer's match) ...
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5 votes
2 answers
190 views

Should everyone who receives dividend income fill out a W-4 form reporting it to their employer?

My friend mentioned to me that he got dinged by the IRS for underpayment of estimated tax. Apparently the reason that his employer didn't withhold enough tax from his paycheck is that he received ...
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9 votes
1 answer
3k views

In the US, how do we make tax withholding less if we lost our job for a few months?

I was out of a job from March to June this year, so I expect to pay less tax and the tax bracket should be lower. However, when I joined a new company in July, and filled out the W4, I couldn't find ...
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0 votes
1 answer
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Are Business Expenses deducted against Capital Gains?

Suppose that you run a business in the United States that generates: $0 in income $100,000 in short-term capital gains $20,000 in business expenses Normally, you can deduct expenses against your ...
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1 vote
1 answer
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Any factors I should consider when choosing between car insurance companies besides price and coverage?

Any factors I should consider when choosing between car insurance companies besides price and coverage? I've heard people mention company reputation to see how likely they are to pay claims without ...
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0 answers
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Cash Flow vs Net Profit in Evaluating Capital Evaluation

In Kaplan's CFA Level 1 online course, it has been claimed that after-tax cash flow-based ratios (NPV) are better than profit-based ratios (ROE, EPS, etc...) in terms of evaluating capital allocation ...
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1 answer
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Tax Implications - Dissolve partnership w/ property

My business partner and I purchased a house two years ago in an LLC we co-own. He does not want the house and I want to improve and live in it. We have agreed that I would buy him out at the price ...
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2 votes
1 answer
174 views

Health insurance company went out of business; what am I on the hook for?

In June 2020, I had a biopsy (negative). At the time, I was “covered” by ACA-compliant insurance that was paid in full, in good standing, etc. I paid the required co-pay on the day of the procedure. ...
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6 votes
1 answer
634 views

Tax implications of free rent as compensation

I recently took a part-time job at my apartment building and I am compensated with a free apartment. I filled out a W4 when I took the job, but my manager is unsure if I will receive a W2 at the end ...
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0 votes
1 answer
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Roth conversion or AOTC

I'm trying to decide whether to do a Roth conversion or take the American Opportunity Tax Credit (AOTC) for my daughter going to college this year. The Roth conversion would push me over the income ...
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-2 votes
1 answer
66 views

How do I check if I've met my maximum Roth IRA contribution on Vanguard?

How do I check if I've reached the maximum yearly contribution amount for my Roth IRA Brokerage Account on Vanguard? I know that the limit for 2022 is $6,000, but I can't remember if I've contributed ...
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3 votes
2 answers
198 views

Should I pay credit card statement balance despite a refund?

Statement balance is $1000 Something I bought was refunded so actual balance now is $200 Am I supposed to pay $1000 or $200? If I pay $1000, my balance will be -$800 but I don't want this to happen ...
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0 votes
0 answers
106 views

What are the tax implications of owning an Airbnb rental?

My partner and I (unmarried) recently bought a house in Seattle, and are planning to rent out the finished basement for extra income using Airbnb. The city requires us to register for a business ...
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0 votes
1 answer
172 views

Do you get any social security credits if you put 100% of your income in a 401(k)?

Scenario: Your spouse is the primary earner You had a 1099 side-job earning $15k You put all $15k in a solo-401(k) plan Would you earn any social security credits in this situation?
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17 votes
4 answers
4k views

How to Convert UK Income Levels to USA Income Levels

I'm graduating with a PhD soon in the UK and now I'm trying to figure out how much I am worth in the workforce & see higher wages in the USA. I don't know if the numbers are adjusted for things ...
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0 votes
0 answers
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(US real estate) What factors would lead to differences in returns between public REITs and crowdfunding platforms?

I was poking through this paper (yep, one source only!). As I understand it, it says that publicly traded US REITs in general don't seem to track US housing prices, once you control for some basic ...
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