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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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2
votes
1answer
195 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 ...
1
vote
2answers
95 views

18 years old and looking for advice on loans, buying a car, financing, etc

I'm 18 years old, I've been growing up in a place where there is animosity towards success, trust nobody and help from nobody is the point. Finally I'm on the right path but I'm having troubles. I ...
1
vote
1answer
63 views

Is it normal to be asked to include detailed financial information on a home rental application?

I'm submitting a rental application for a privately-owned townhome in North Dakota, US. The application asks for more detailed financial information than I have ever had to provide on past ...
0
votes
2answers
768 views

Financial information for applying an apartment

I am applying an apartment whose management company will do some credit and background checking on me. The application form asks for my employment information and my monthly income. My financial ...
6
votes
3answers
433 views

What is a deductible?

New grad just out of college and working at a job that is asking me how much I want to contribute to my HSA. My medical plan deductible is $3,000 and I am a single filer (when it comes to tax) so I ...
1
vote
0answers
14 views

Combine 121 and 1031 - how much capital gain is non taxable?

Section 121 allows $500k of cap-gain to be non taxable (in the right circumstances) Section 1031 allows the deferral of capital gain taxes (in the right circumstances), and they can be combined. But I'...
7
votes
2answers
268 views

Credit Freeze for Minor Child

I was told that identity theft of a minor's credit is a very sought after goal for thieves. Is it true that credit agencies will offer lines of credit to individuals who are not yet 18? Is there any ...
8
votes
4answers
16k views

How can I withdraw money from my LLC?

I am the sole member of an LLC. I am going to open up a bank account for it. I have $5,000 that I want to open it with. If I understand correctly, I am allowed to pay myself from the profits at the ...
9
votes
2answers
391 views

Can I find out who recently has been reporting very old addresses to my credit report?

My credit report at TransUnion includes, in the personal information section, both past addresses and the date each was reported/confirmed to the credit bureau. Several addresses are reported with ...
3
votes
1answer
95 views

Redeeming minuteman savings stamps the old-fashioned way?

We just found in our house two books of 10¢ Minuteman stamps, face value $2.90.  I see that they are sold as collectibles for a wide range of prices. But I am curious whether there is still some ...
4
votes
1answer
976 views

How long does it take to have no credit history?

In considering my 5-10-20 year goals recently, one of them is to not use debt - whether credit card, mortgage, car loan, etc - even on a monthly basis. I currently am young, single, and have no debt ...
0
votes
2answers
245 views

Car Insurance - Do I need to keep comprehensive insurance after I paid off the loan?

I live in the Bay Area, California. I had to take comprehensive (Liability and Collision) insurance and pay around $500 for six months until I paid off the debt. I recollect that I was required to ...
3
votes
2answers
181 views

Is it illegal for builders to only work with local lenders?

I'm a month from closing on a new construction home and I changed my lender from a local lender that was untrustworthy and not giving a deal. I got a notice that the the builder wont approve the new ...
1
vote
5answers
307 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 ...
1
vote
0answers
69 views

Is there any investing strategy to take advantage of Volatility drag?

Besides shorting leveraged ETFs. Say a leveraged investment in an asset suffers drag and it goes down even if the asset is flat. How do I capitalize on this? Is shorting leveraged ETFs the only ...
4
votes
2answers
96 views

No-Deductible plan or High Deductible HSA plan?

The Company I work for is offering two Insurance options starting this year. One being the No-deductible plan I am currently on, and the other being a 1500$ deductible plan with an HSA that they will ...
0
votes
2answers
57 views

Total Income tax and self-employment tax

I worked as a full time employee (W4 taxes were deducted by the employer) and I was self-employed (independent contractor - 1099MISC i.e. no taxes were deducted by the employer) for some months of the ...
2
votes
2answers
37 views

How to get refund with 1040X on amended 1040NR?

I forgot to claim standard deductions of $12000 (nonresident alien, for Indian students) on my 2018 1040NR. So I am filing a 1040X. For the incorrectly filed 1040NR I received a $600 refund, but in ...
2
votes
3answers
222 views

Practicalities of giving to children and grandchildren

I want to give $15k each to my daughter, her husband, and their two children for a total of $60k/yr. I see this example all over the internet, but no details on what this actually looks like. Since my ...
0
votes
1answer
40 views

2019 FBAR filing deadline missed

This year, I missed FBAR filing deadline of April 25 and also for automatic extension of October 15. It is not because of natural disaster (that's the only relief option I see here on the IRS site. I ...
2
votes
1answer
103 views

HSA and tax free investing

The below is a quote from another HSA question's comment: I agree. To your point the best course of action would be to max out your HSA contributions, not distribute them even if you can, invest ...
5
votes
4answers
583 views

Income too high for a Roth IRA

I now make too much money to invest in a Roth IRA. I get no tax benefit from putting money into a traditional IRA since I already have a 401k plan which I max out. What should I consider investing ...
3
votes
2answers
184 views

Is there any risk in keeping lots of assets with one broker? [duplicate]

I'm in the USA. Currently, the bulk of my net worth is in accounts with TD Ameritrade. Right now, that's only about $30,000, but I plan to keep contributing; hopefully in a few decades, I'll have a ...
2
votes
2answers
268 views

US Citizen living abroad: Can I put a foreign address on I-9/W-4 forms, for tax return purposes?

I am US Citizen, currently living abroad and work for a company in the USA. I was asked to fill out the I-9 and W-4 forms and was wondering what address to list. my us or foreign address. Specifically ...
7
votes
6answers
1k views

Will an administrator exceed the 401K limit?

Suppose a person has a single job with $80K salary for the year and chooses 30% contribution to their 401K. The limit for 2020 contributions is 19.5K. Will the employer or the administrator stop ...
7
votes
1answer
128 views

Can I defer starting Medicare if 65 and on COBRA after a lay-off? (HSA, COBRA, and Medicare)

I turned 65 in February, am still working full-time, and have medical insurance through my company that qualifies me to defer signing up for Medicare. I've been contributing the maximum to my HSA ...
0
votes
3answers
182 views

US Tax Obligations for Multiple Trades of Stocks or Cryptocurrencies

Background I am trying to understand potential tax obligations for trading stocks and cryptocurrencies in the US. I was able to find the following information online: The IRS considers ...
4
votes
4answers
563 views

Post Tax 401k or Taxable Brokerage Account?

I max out my pre-tax 401k, HSA, and do a roth IRA or backdoor Roth IRA. With my additional savings is there any reason i would want to do a post-tax 401k instead of keeping it in a regular taxable ...
1
vote
1answer
252 views

If I own some stock, then buy more and then sell, is that a wash sale?

I use Robinhood for stock trading that uses FIFO (there is no other selectable option). If I.. Bought 10 shares of SSS 1/1/2019 at 1:00 pm at $100 each = $1000 Bought 10 shares of SSS 9/1/2019 at 2:...
2
votes
1answer
121 views

Health insurance for family visiting from overseas

I have an aunt and uncle planning on visiting the US from China for a stay of 5 months (on a tourist visa with Chinese passport) and I'm wondering what insurance to get them. They're about 60 years ...
0
votes
3answers
930 views

F-1 Visa expired - Unable to repay private student loan. What to do?

I was an F-1 student and I graduated with MBA from a top 15 B-school in 2016 and had taken a loan of $85000 (without co-signer). Since my H1B didn't kick in I was forced to quit my job and leave the ...
3
votes
1answer
143 views

Are all the capital gain of a house or stocks tax free and have a new cost basis if passed as inheritance?

I was watching a YouTube video by TechLead, and he said that in USA, if a house or stock is passed down as inheritance, then it has an adjusted cost basis of when the person passed away. So as an ...
23
votes
8answers
14k views

How do I know when I am financially stable/ready to move out on my own?

Some background information: I'm 23 and living at home. I have a good full time job as a web programmer that I've been at for over one year. It includes benefits and 401K (which after one year I ...
0
votes
1answer
76 views

Taxation of capital gains by USA from cryptocurrency of Russian student on an F-1 visa

I am from Russia and I currently study in the US on F-1 visa. Last year I did some cryptocurrency trading which is taxed as capital gains in the US. US-Russia tax treaty says that: Capital gains on ...
-2
votes
0answers
48 views

Can you hold both Series 6 and 7 licenses? [closed]

Can you hold Series 6 and Series 7 licenses at the same time? Or if you lose 6, get 7?
13
votes
6answers
18k views

Is there such a thing as a deposit-only bank account?

My employer wants me to give my routing-numbers, social-security numbers, and basically everything else required to take money out of my account, to several third-party direct-deposit websites (one ...
2
votes
2answers
87 views

Tax safe harbor rule with estimated payments (no tax liability on prior year)

I am a Spaniard and immigrated to the US on January of this year. I worked in the US in 2015 & 2016 and filed taxes for those years, but I was not in the US during 2018 so I had no tax liability ...
1
vote
1answer
58 views

Can both spouses claim Family Employer Contribution?

2 spouses (X and Y) with 2 kids (x and y). They both work and both their employers offer HSA plans with Employer Contribution. X works for company XXX that offers 600$ for Employee and 1200$ for ...
0
votes
0answers
49 views

How do I set up the books for LLC taxed as a C-Corp?

Most resources online for bookeeping for LLCs immediately repeat a myth about C-Corp taxation subjecting you to double-taxation, declare that nobody would set up their single-member LLC as anything ...
28
votes
8answers
12k views

Should a middle class person emulate a very wealthy investor for % of cash hold?

Warren Buffet is keeping $128 billion that can be deployed when stock market goes down. Should a middle class person hold little more of their investments as cash? Suppose if the person is responsible ...
2
votes
1answer
298 views

Is there a non-income tax way of my father paying off my house?

My father will soon be moving in with me as he is retiring at the age of 77. We are wanting to pay off my mortgage ($250,000). But we want to do it all in my name because we don't want it to appear as ...
0
votes
1answer
41 views

Coordination of Benefits With Multiple Health Insurance

I would like to understand how two health insurance companies will co-ordinate their payment. Let's take the following example a person with the following coverage: Primary health insurance: (...
3
votes
1answer
70 views

Qualifiying Life Event allow one to change coverage plan

Employer provides four plans, with the following three that interest me, PPO, HMO, CDHP During open-enrollment I choose PPO. I marry. This counts as a QLE. Am I allowed to change to CDHP midyear? ...
2
votes
2answers
3k views

In the U.S as F1-visa student, I used TurboTax and filled the wrong form twice

I unfortunately filled my taxes using TurboTax as an International student twice and got money back before I found out it was incorrect for me to use that system. I have not filled the 8843 form ...
0
votes
1answer
94 views

Business losses for expenses incurred by a foreign contractor

I am a resident of California (Green Card holder), and started a new business in 2018 to evaluate an idea I had. It was not registered in state of CA as I was not sure how far the idea can go. Anyway, ...
0
votes
1answer
69 views

How to handle taxes by using credit card app (Square)

My old workplace wanted to contract me in to help with some on going issues they had. They ended up having me sign up to square which is a credit card service that charges a small fee when you charge ...
1
vote
1answer
73 views

Constraints and penalties for freezing and thawing credit report

I live in the U.S. and am interested in learning more about "freezing" one's credit report. When one freeze's a credit report for a particular bureau, does that prevent new creditors from adding ...
6
votes
3answers
5k views

Can I request a credit item be removed from my report as soon as it is paid in full?

I live in the U.S. and have two scenarios: On my credit report (doesn't matter which bureau), I have one account that I was never late on, paid on time each month, and is now finally paid off in full ...
0
votes
1answer
68 views

Possible to purchase credit reports more than once a year?

I live in the U.S. and although I am well aware that I am entitled to a free annual credit report once a year, I am open and willing to purchase my credit reports (from each bureau) more frequently ...
18
votes
11answers
13k views

Urgently need pre-paid debit card to pay debt collector

I owe a sum of a few thousand dollars to a debt collector. I've already gone through the steps of getting a confirmation of the debt and it is a debt I know I'm accountable for. I need to pay this ...