Questions tagged [united-states]
For questions that relate to the laws, practices, and products of the United States.
9,959
questions
0
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1answer
59 views
What is “the liquidity illusion”
I came across this visual, but it's a bit complicated, I haven't been able to make sense of it.
In so many words, the way I read it is: if defaults pile up, the market is spooked, spreads increase ...
3
votes
1answer
39 views
Is the capital gains tax rate bracket calculated after deductions?
For example, if someone (single filer) makes 45k in regular income and wants to sell stock which would realize 5k of long-term capital gains:
Do they pay 15% on the capital gains because, with 50k ...
4
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2answers
106 views
Security deposit as rental application deposit
I'm considering renting a particular apartment in the Pittsburgh area and the landlord is asking for the security deposit of one month's rent to be submitted along with the rental application, before ...
-1
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1answer
138 views
Does the IRS notice if the same estate is left sequentially to a series of spouses? Does it care?
Sorry if this is too frivolous. Just tell me nicely if it is. It is very hot, and my mind drifted -- as whose would not? -- to estate taxes.
As many of us know, in the US, any amount may be left ...
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3answers
190 views
Is it free riding if you buy and sell the same stock on the same day
Suppose you have $0 balance in a cash account. You buy ABC for $1000, and sell it for $1050 on the same day. Is it a free riding violation?
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0answers
15 views
1031 Exchange Scenario
I'm looking to sell a single family rental property for $400K and buy two with a 1031 exchange. I should have about $150K to put down. I may look at turning one of the new properties into my primary ...
2
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4answers
173 views
Do extra mortgage payments typically go directly towards principal?
I have a 30 year mortgage and I'd like to make extra payments each month to speed up the amortization schedule. I thought this would be better than taking out a 15 year mortgage as it gives me some ...
1
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0answers
62 views
How to treat a bonus for tax purposes if moving states
I moved from NY to a tax-free state in December of 2018. In January of 2019, I received a cash bonus from my employer. Despite not living in NY anymore, the company withheld NY state income taxes for ...
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1answer
174 views
Are there any bills that do not need to be paid at all? [on hold]
Do all bills need to be paid, or are there any types of bills that do not need to be paid at all?
Here are some examples that I can think of:
A bill that claims a service that I never received.
A ...
1
vote
1answer
37 views
Australian exchange rate qustion
Can a person in America lend money to a person in Australia in order for them to benefit from the exchange rate. I want only my initial amount lended to be returned. Are there any consequences to me ...
0
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0answers
96 views
How to prevent my phone number being searched online? [on hold]
Recently, read an article about phone number being used to hack into one's account.
https://nyti.ms/2P8kKZ4
What needs to be done to prevent my phone number being searched? (Return invalid hyperlinks ...
2
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1answer
184 views
What happens to small bills if they are unpaid?
I understand that bills are sold to collection agencies if they are unpaid. But what about very small bills then? For example, say if there is a bill of less than $10.00, will the company bother to ...
1
vote
1answer
48 views
Indian Resident gift from India to me who is US citizen
I'm an US citizen. My friend and relative who are Indian citizens want to transfer USD 50,000. They will send in two transactions of 25,000 each. Transfer is from their Indian bank account directly to ...
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0answers
127 views
What's are things I can do with my extra money that I'm not thinking of?
Here's a brief description of my situation.
I'm 26, have 2 houses, few side businesses and a normal w2. One house is rent-free since family lives there and pays half the taxes and keeps it maintained....
0
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0answers
56 views
How can I research the total debt of all countries? [on hold]
I am from Europe. I looking for numbers on the total debt from all countries. I have been searching for hours, but I couldn't find anything unfortunately.
How would I research statistical data about ...
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0answers
85 views
Why wasn't my wire transfer delivered to my client's account in Turkey?
I was told initially that an international wire transfer normally takes 2 to 3 business days to deliver to my client in Turkey, but it has been more than 10 days now since I made the transfer and I ...
2
votes
1answer
109 views
Can my spouse/friend purchase a cashier's check for me?
I roughly understand that cashieir's checks lifts the money from your account at the time of issue and can be cashed by the named recipient.
Can I use a Cashier's check issued to my spouse/friend ? (...
2
votes
2answers
146 views
How do I calculate what percentage I will own of my parents vacation home?
My parents own a vacation cabin that I would like to invest in. The cabin is worth $330,000 and they have a mortgage on it with a balance of $125,000. They took out $40,000 of their primary ...
1
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1answer
70 views
What is “IRS compliance testing” for terminated 401k plans?
I have a 401k through a previous employer. That employer recently ceased operations, and as part of that, terminated their 401k plan. As such, the employer directed myself and other employees to fill ...
0
votes
3answers
60 views
Do under-withholding penalties apply to supplemental income?
I understand that while supplemental income is ultimately taxed the same as other kinds of income, it's withheld at a flat rate of 22%.
If this causes a significant under-withholding, is the employee ...
0
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0answers
28 views
Understanidng if a currency transaction report needs to be filed?
I frequently (every week or so) go to an ATM that is in a bank that I do not have an account in. I withdraw $500 and the machine dispenses $20 bills. I then walk up to the teller and exchange the ...
0
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4answers
206 views
Refinancing student loans in the context of an impending recession
I am a 23 year old, employed, Software Engineer working for a startup in an inexpensive city in the United States. I make $71k/year plus stock options that incrementally vest over 3 years. I have no ...
7
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3answers
349 views
Why am I not billed for EOB balance?
Why am I not always required to pay the outstanding amount listed on my Explanation of Benefits?
Documentation of how EOBs work state that I am responsible for any outstanding amount that the ...
6
votes
1answer
1k views
Legal to apply dormant account fees until the account overdrafts?
Is it legal in the USA for a bank to assess and apply dormant account fees until the account overdrafts and goes negative?
This is happening to a friend of mine and it doesn't seem like it should be ...
1
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2answers
119 views
basic retirement planning for someone middle-aged
I'm in my early 40s and haven't done anything for retirement yet. I do own some property which I plan to sell later this year, and I'm planning to use the proceeds to plan for retirement. The proceeds ...
4
votes
2answers
341 views
How long after a hotel stay can you be billed in the US?
TL/DR: I stayed in a hotel and haven't been billed yet. At what point am I no longer legally responsible for the debt?
I used a well known website (expedia) to book a hotel room for a week in a small ...
3
votes
1answer
193 views
Is it typical to wait 19 months for first employer 401K contribution?
I want to understand if these policies would be considered typical, better than average, or below average.
An employer offers a matching contribution to 401K, details are:
0% vested in employer ...
-1
votes
1answer
60 views
Optional vs Mandatory State and Federal Paycheck Taxes for NYS
I live in New York state (upstate; not NY City) and am wondering which of the following taxes I must pay out of my weekly paycheck:
Income Tax
Federal
State
Local
FICA & State Taxes
...
0
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0answers
24 views
What is the best way to gift NRI daughter from India? [duplicate]
My dad is an Indian citizen and he plans to sell his farm land and send the proceeds to me as a gift. I am a US citizen.
What are the tax implications to my dad since he is selling farming land?
...
2
votes
1answer
72 views
As a trustee and executor of a trust, can I “settle” the financial portion of a trust on my own?
regarding settling the trust as an executor: I have gone through the legal aspects of informing heirs regarding the trust, and assuming that there are only liquid assets, can I just make out checks to ...
3
votes
1answer
57 views
Can my spouse and I both have HSA's at the same time if I am covered on his health insurance plan?
My husband has a HDHP through his employer which I am covered on, along with our 3 children. He has an HSA plan that he contributes to through his employer in the amount of $200 every two weeks or ...
0
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0answers
13 views
Tax treatment of PFIC when investment is done monthly
I work in the US. Towards the end of 2016 I started investing in Indian Mutual Funds through an investment management acquaintance of mine. This has been with my income that is already taxed in the US....
2
votes
2answers
206 views
Why do some credit cards display the 4 last digits of the credit card in the signature blank next to the CVV code?
Why do some credit cards display the 4 last digits of the credit card in the signature blank next to the CVV code?
For example, I noticed that my newly issued Bank of America Travel Rewards card now ...
3
votes
1answer
69 views
US Citizen working in Japan for a Japanese company, and also remotely for a US company. What's my tax situation?
I've searched a few queries, but didn't find many people in a situation quite matching mine.
Starting in October, I will work full-time for a company in Japan, and I will also put in some part-time ...
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0answers
136 views
Young man living abroad, never paid taxes. Would this simplify a renunciation?
I'm a young (20 years old) American (French dual citizenship) living in Europe currently considering renouncing my US citizenship. However, I'm quite intimidated by the amount of paperwork, especially ...
120
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14answers
16k views
As a 16 year old, how can I keep my money safe from my mother?
I am 16 and still in HS and work 20+ hours a week. I live with my mother (my Dad left us when I was a kid and I don't see him anymore). My mother is an alcoholic and has trouble keeping a job. I don't ...
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0answers
50 views
NRI gifting funds from UAE to USA
I am an NRI (Non-Resident Indian) and I wish to transfer funds, from UAE to USA, as gift to my daughter. She is an Indian passport holder staying in USA on OTP visa. What are the limits and taxes, if ...
6
votes
1answer
431 views
Strange withdrawal from checking account
I got a notice that there was an ACH withdrawal yesterday from my checking account of $225.38 by OPENSKY PHONE PMT. I'd never heard of OpenSky before and I'm not sure what a "phone pmt" is. I called ...
4
votes
3answers
124 views
Why are margin maintenance requirements based on total account value and not just the margin debt?
Just reading through Charles Schwab's margin brochure and saw this section...
The securities used as collateral must maintain a minimum value relative to the account’s
margin debit balance. ...
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0answers
49 views
Lowest tax implication for selling an inherited house
Context: A homeowner passed away in 1999 and the house ownership was moved into a trust. At that time the house was worth ~120k. It is now worth ~400k. The beneficiaries are divided equally among 3 ...
0
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0answers
61 views
Can I have a sidegig contract in the US if im fully employed in the UK?
My current situation is the following:
I'm based in the UK.
I'm working as a full time employee for a company X that has a client Y.
We've finished some work for client Y and they have a US company ...
4
votes
1answer
177 views
Can my employer make me forfeit Safe Harbor match if I over contribute?
My employer 401k plan offers 'after tax non Roth' contributions, in addition to traditional pre-tax and Roth. I chose to max out my pre-tax contributions at $19,000 this year and then switch to '...
0
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0answers
124 views
Can side startup cost to build an app offset my income for tax purpose?
I have a full-time job and am interested in forming an LLC paying a foreign company in China to build a website or app prototype for my side startup. Can I deduct this cost against my income from my ...
0
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0answers
193 views
An honest mistake [duplicate]
I had a check that I had found while I was sorting through papers, and I figured it hadn’t been cashed because it was pretty much intact and still attached to the pay stub. So I deposited it, thinking ...
10
votes
3answers
3k views
What do “unsettled funds” mean?
I sold my ETFs today in a non-margin account in an online trading platform.
99.99% of my account currently consists of unsettled funds. What does it mean that they are "unsettled funds"? Does it mean ...
20
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4answers
17k views
I was contacted by a private bank overseas to get my inheritance
Someone I knew, who was in a Mexican prison, has passed away and apparently this person has left me money. The bank called me and gave me details to log into an online bank account where I could see ...
3
votes
1answer
159 views
Am I a “Material Participant”?
I am a limited partner in the company where I work full time in a middle management role. (Or more specifically, I am a limited partner in the holding company that exists for the sole purpose of ...
1
vote
1answer
187 views
Tag along in publicly traded companies
I am not sure if that's the best place to ask this question, so—feel free to relocate to a more appropriate site.
So, I have a couple of questions:
First-off: in Brazil, we have listing segments for ...
-2
votes
3answers
358 views
What stops someone from abusing the Annual Gift Exclusion Amount?
Let's assume this hypothetical.
My son is now 18 years old. Since he was 8, I've been setting aside the annual gift exclusion amount and placing it in a safe in my house. With snipers guarding said ...
2
votes
1answer
86 views
401(k)/IRA in lieu of term life insurance at age > 55
I have a term life insurance plan that will expire when I am 55 years old (~20 years from now). My insurance salesman wants me to convert part or all of this into some sort of whole life policy, and ...
