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Questions tagged [united-states]

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

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1answer
73 views

Estimated tax payments required when paid only once per year?

I did a small amount of work as an asset manager by power of attorney this year for which I am getting a fee paid once at the end of this year (in December) and I probably will do no further work of ...
2
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1answer
31 views

Repatriate NRE funds from India back to the US.

I have an NRE account in India. I have been paying taxes on the interest and also reporting the total funds on FBAR every year. I have repatriated some of the money to the US this year. What IRS form(...
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2answers
46 views

Pass through entity’s year start balance

I am the owner of a single-member LLC and am taxed as a pass through entity. At the beginning of the year is a pass through entity’s cash balance always considered $0 with respect to a balance sheet? ...
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0answers
23 views

Late filing Returns from 2015, 2016 and now 2017. With income in 2015 and 2016, but NOL in 2017

What is the procedure for filing these late returns? Do I file the returns and then file an amended return to show the carry back from the loss from 2017? 2015 AGI $143,567 - after ID and ...
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1answer
55 views

I have a HDHP with an HSA through my employer as well as a non-HDHP through my parents. Am I still eligible for the HSA through my HDHP?

I have a HDHP with an HSA through my employer as well as a non-HDHP through my parents. Am I still eligible for the HSA through my HDHP? I have an HDHP with an HSA through my employer that I started ...
2
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2answers
77 views

HSA End of Year Contributions

If someone starts work half way through the year and makes out-of-paycheck contributions to their HSA account that amount to less than $3,450 (say they amount to $1,450), would they be able to deposit ...
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1answer
32 views

Considerations re: LLC on SSDI

I am disabled and receive SSDI. I will have some money from inheritance and insurance settlement from an injury. I'd like to put the money into an LLC (for shelter, exclusion and self directed ...
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1answer
50 views

Intuition behind Internal Rate of Return (IRR)

What is the intuition behind Internal Rate of Return. From Wikipedia: The internal rate of return on an investment or project is the "annualized effective compounded return rate" or rate of ...
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4answers
10k views

How can I remove my name from a car loan?

I financed a car, then my friend took over the payment. We went to the bank to transfer the car over to her, but I still had to be on the loan as a co-signer. Last year she was still paying on the car,...
2
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1answer
59 views

Defer capital gains tax

I exercised options and sold the stock from the exercise after owning the stock for a very short period - much less than a year. I will now owe short term capital gains on my 2018 return. Before 2018 ...
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2answers
179 views

Short-term selling of stocks with less profit

If I purchase $1000 worth of stock, and in the first week the stock value goes down to $900 and then in the second week the value of the stock reaches $1002, and then I sell the stock, Do I need to ...
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2answers
91 views

Minimizing tax liability from real estate sale

I bought an investment property in the United States for $20k in 2005, got a $100k refi loan on it in 2007 and sold the property for $100k in 2018. When I sold the property in 2018, I owed about $80k ...
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0answers
44 views

Certified copy of U.S. Visa for ITIN application

I need to request an ITIN number in the United States but do not want to send my passport through the mail. To support my application, I must submit certified copies of my passport and U.S. Visa. ...
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0answers
48 views

Which state income tax will be applied on working as a traveling employee?

I live in State A where I have my home address. My work location is in State B. I also do work from home. When I travel, I stay in hotel. Will my state tax fall in State A or State B? Can travel/...
3
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2answers
190 views

Does 529 help with no intention to attend college?

QUESTION: Is it better to make a long-term investment in a 529 account or a post-tax account? Assume the terminal use of funds is not a qualified expense. What is the right way to do this analysis? ...
2
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2answers
163 views

Can I get my property tax assessment lowered by comparing to my neighbors?

This video states: "If you find more valuable homes that pay less, you certainly have a good reason to appeal". Zillow shows many of my neighbors homes have much higher value AND much lower ...
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0answers
28 views

money market funds lock-up shares

Do money market funds in the U.S. offer locking up shares for short-term (less than three months)? The analogy I'm thinking of is checking v/s savings accounts offered by commercial banks.
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0answers
38 views

Are federal pell grants applied on top of college scholarships?

Does the scholarship that your college provide you with include the federal pell grant or is the grant amount an additional amount to the scholarship provided by the college?
6
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1answer
290 views

Share 1099 payment with another sole proprietor

Jane and Sally are independent contractors who provide education consulting to public school systems. They are separate business entities (both sole proprietors) but they frequently partner together. ...
6
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1answer
140 views

I'm a resident of Monaco and my future wife is a US citizen and resident. Will I have tax obligations once married?

As my header explains, I'm concerned with the possible tax ramifications once married let alone being in a de facto relationship. For example, France is harsh when it comes to taxes. If she lived ...
3
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3answers
212 views

Job offer Purchasing manager

Been talking with a lady from Germany that wants me to be a purchasing manager. Here is the info I got This work-at-home position is responsible for generation of purchase orders using Company's ...
1
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2answers
172 views

I want to borrow $25,000 for 1 year and pay it back at end of a year?

What type of loan would be best to look for in the US, if I have an already paid off house as collateral for a $25,000 loan for 1 year?
0
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1answer
33 views

What is considered “operating in Illinois” in regards to having an LLC?

Company: We formed a LLC in Delaware as a 50/50 partnership. We have an agent in Delaware, EIN, Operating Agreement, Articles of Organization. Our company will operate over the internet as a ...
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1answer
78 views

Why do I have to pay cash to my broker to pay estimated taxes on vesting employer-granted stock?

I'm about to receive some restricted stock through my employer. These are stock units, not stock options, so I can't defer their vesting. When they vest, my broker is requiring that I wire them cash ...
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0answers
37 views

Home improvement loan for dependent support worksheet

My mom had to finance HVAC replacement in a condo we purchased together, but she is the permanent resident, as I live in another state. She receives SSD payments. For the dependency support worksheet,...
7
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1answer
392 views

Was I a victim of illegal bait and switch mortgage fraud?

My wife and I recently purchased a home and I think we were victims of bait and switch mortgage fraud and I wanted to find out of what happened to us was illegal, or just very strange. We were first ...
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1answer
43 views

New York, Rental Apartment in Chinatown has issues with Gas Connection. Can I get rent abatement

I live in a rental apartment in Chinatown, New York area. My building had its gas turned off by ConEd because of a faulty pipe. Talking to the super, it seems the landlord as no immediate plans to fix ...
10
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1answer
259 views

How to take advantage of a no-income year (taxwise) when you could sell stock with capital gains?

I didn´t have much income this year, so I was thinking of selling any stock with capital gains. The purpose of this sell is to take advantage of the standard deduction and the 0% tax on capital gains ...
4
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1answer
162 views

Is credit card signup bonus taxable?

If a credit card company offers you $500 for making $1500 in purchases within the first 3 months, is that taxable income?
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0answers
49 views

Advice for finding a qualified accountant for grad student & real estate tax and financial planning

I'm a bit worried about getting bad tax advice this year for a number of reasons. I just started a PhD program this fall, which meant a number of big changes for me: I had to sell my house and move ...
7
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1answer
1k views

Getting a tax return as a dependent student

I am a 17 year old student that is filed as a dependent by my mother. This past summer, I had a paid internship where I had to pay FICA taxes alongside some state taxes. I believe I can get taxes paid ...
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2answers
56 views

I have Multiple HSA accounts and want to confirm my established date is correct

My employer changed HSA providers in June 2016. We were HSA eligible since 2014 and the original account was established then. My wife had surgery April 2016 yet I was using funds from the June 16 ...
3
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2answers
142 views

why would I pay for front-end or back-end fees?

These days, many mutual funds from large asset managers such as etrade, Schwab or Vanguard offer no fee for mutual fund buy/sell. So why would I pay for front-end or back-end fees to purchase/sell a ...
2
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0answers
32 views

401(k) funds - taxes living abroad? [duplicate]

If you plan to retire overseas, are you going to be taxed from the US or from the country overseas? I was not able to find any rules that could answer that question for traditional 401k funds. I ...
2
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1answer
47 views

Co-enrolled in HSA and Non-HSA health plans

I was unemployed for all of 2017. So, during open enrollment for 2018, my girlfriend’s company agreed to put me on her HSA health plan as a domestic partner. She and her company were contributing to ...
5
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3answers
1k views

Can I pay myself back later in the year if my HSA doesn't have adequate funds earlier in the year to pay for an expense?

We are being offered an HSA/High Deductible plan and my only concern would be if I had to incur a significant expense at the beginning of the year - no plans to but you never know, right? If I don't ...
3
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1answer
121 views

US Citizen married to EU citizen, working for UK company and remotely for US company - Taxes?

A bit confusing to word the question, but I am a US citizen with a 5-year visa allowing me to work and live in the UK full-time (family member visa - wife is EU citizen). I work remotely as an ...
0
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1answer
67 views

Rolling over Traditional IRA and timing

I have a 401k at work. I also have a Traditional IRA. Both have losses. However, the 401k at work has much fees and expenses. Also it has larger pool of funds to choose from. I want to consolidate ...
3
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1answer
200 views

How urgent is it to close put options when a company enters bankruptcy? How likely is it to have trading halted?

I own Jan-2020 put options on a company in bankruptcy, but the stock is trading between .25 and .50 and my limit orders to sell those puts are not getting filled yet. The trading on the shares has ...
2
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2answers
71 views

What is the ROI effect of switching mutual funds in a taxable account?

Assuming I'm paying long term capital gains tax, what is the break even point where it is more worthwhile to switch from one fund to another? For (a hypothetical) example, if I have a fund with an ...
1
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0answers
43 views

H1b + Rental income in India and USA

1) As a H1b holder, if I have rental income in India and need help with the following: a) Indian tax law exempts first INR 250,000 and Indian tax law allows 30% deductions on rental income. b) When ...
4
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2answers
348 views

IRA Annuity when 1 of the 3 Beneficiary's owes estate

Mom died listing her 3 kids as beneficiaries on a 401k/IRA Annuity. One of the beneficiaries owes her $20k and she wanted it deducted from his share of any money in the estate. Since she listed the ...
7
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1answer
219 views

Off-the-shelf Computer Software Depreciation

For the 2018 tax year, I'm looking to take 100% bonus depreciation on software expenses for my US (California) based LLC. While the tax code states that "Off-the-shelf computer software" is eligible ...
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0answers
56 views

What advice do you have for a non-US resident with savings in the US?

I don't live in the US anymore and I'm not a US citizen, but have formerly worked in US and thus have savings in the US. I wanted to invest in a simple index fund, but can't find an option for non-US ...
5
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1answer
311 views

How to establish--many years later--the fair market value of real estate on the day someone died?

The home passed to an heir in 2012. The heir did not have the home appraised at that time. The heir died in 2017 and the home was sold in 2018. How do you establish the FMV in 2012? Notes If the ...
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1answer
71 views

Suggestions on how to file taxes when running an international online business with expenses in Bitcoin

So around January of this year (2018) my buddy was approached by the admins of a website and was asked to be a reseller for their products. Currently, they only support payments in cryptocurrency and ...
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1answer
168 views

Is a savings account that earns 0% interest tax-free?

If I can find a savings account that doesn't earn interest and doesn't come with any sort of bonus, will my savings be tax-free?
2
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1answer
306 views

Are cashier's checks anonymous?

I'm seeking a way to make payments without placing my name and mailing address on file. For example when donating money. In person, cash would work. Online / distant institutions often encourage ...
0
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1answer
33 views

Provider pool size for health insurance plan

I am selecting health insurance. My goal is a low premium/high deductible plan, but with a large selection of providers. In other words, if I have a serious medical problem, I would like the ability ...
5
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1answer
122 views

Loan-to-value (LTV) ratio of 65% to remove escrow?

I just got off the phone with Wells Fargo to try to close my escrow account on my mortgage (prefer to just manage taxes & insurance myself). I'm currently at an LTV of 75%, and after doing some ...