Questions tagged [united-states]

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

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1answer
48 views

cosign a car loan, what is true $ risk

I asked a question and I am asking same question from a different angle. For example purpose, If I have friend( know for 6-7 years), who came to USA recently ( and I happen to come 2-3 years ago), ...
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1answer
49 views

U.S. Debt Law: What will/can repo people and banks take from you and when?

I know that this question has a lot of inherent complications, such as state laws and profitability for debtors, but I ask this because there are laws in place to protect people who owe money and I'm ...
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0answers
11 views

NYC Tax Rates on Educational Software

I've received consumer subscriptions, and now sending an invoice to a school, for an educational technology piece of software (a web based video game, non-downloadable), and am curious about NYC tax ...
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0answers
14 views

Money order restrictions

What are some of the restrictions surrounding money orders and the amounts they can hold? Are there restrictions on the method of payment used to purchase one? Do these figures vary by the seller and ...
4
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1answer
78 views

Does the deductible apply to each doctor's visit separately or are the costs cumulative over the year?

In a few months I'm switching to a health insurance plan with a $1,600 deductible. After the deductible is met, the plan pays everything, i.e. 0% coinsurance. As of now, I see a physical therapist ...
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1answer
25 views

Deduct business expenses on salary income tax as a married couple

So let's say that one spouse is working full time for simplicity let's say this spouse is making 100k/y and paying 30k/y in income tax. Then let's say the other spouse is running a sole proprietorship ...
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1answer
36 views

Self employed half the year unemployed the rest. Do I pay quarterly taxes?

I was unemployed from January-June and started becoming self-employed from June-December. Do I need to pay quarterly taxes? I will owe more than $1,000 in taxes for being self-employed half this ...
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5answers
103 views

cosign a car loan with a limit

Can a person cosign a loan that list the limit? Article says that "You’re actually committing to be 100% responsible for that debt". For example purpose, If I have friend( know for 6-7 years), who ...
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0answers
69 views

The client wants only w-2, is there a way to route this via LLC?

I have an LLC registered and operating in USA. I produce content. My client is in DC. I would like to provide services using the content that my LLC owns. The client is not directly buying the content,...
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3answers
123 views

Security risk of using a budgeting app connected to bank accounts

I've been tracking my budget the old way for a few years now by using Excel spreadsheets that have my checking account ledger and monthly expenses broken down to categories. But I have noticed more ...
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1answer
117 views

Should I appeal the property tax assessment on a car I bought?

Half the counties in USA charge personal property tax on car. That is OK, but recently my county is appraising my car at a very high price and the reply from the county is that Since there is no ...
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1answer
137 views

What options do you have when the at-fault party's claim adjustor is low-balling you?

United States & New York state here. Although the first few paragraphs might make it seem like a legal question, it is not! It's an insurance question, and more specifically, about how to handle a ...
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0answers
83 views

What qualifies as a small business in the United States?

I am a Canadian citizen living in the United States (in California) and would like to buy an investment property. I want to declare a small business for owning and managing the property which I ...
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4answers
11k views

Why is the car dealer insisting on a loan instead of cash?

I saw a question that said "He (dealer) knocked down the price quite a bit" but my experience is different. The dealership says that they have a US$1500 incentive if I take a loan from their financing ...
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3answers
164 views

Are credit score calculations stateful or stateless?

Over labor day weekend my wife and I bought a furniture set. We'd been planning on it since we got married and had saved up enough that making the purchase was planned and as painless as dropping ...
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3answers
60 views

In-kind transfer for a traditional 401(k) to IRA rollover

I'm rolling over a 401(k) that is holding only VIVLX, a Vanguard target date fund, to a brokerage. It's not proprietary but it is the institutional class of the fund, so my brokerage minimum for ...
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1answer
95 views

"Discover® Identity Alerts (is there a downside to this free service)

I got the offer today. Other companies have made similar offers. Is there a downside to this kind of thing? Are they getting some sort of access that they will somehow market some junk to me? Here's ...
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1answer
163 views

Do low cost ETFs or mutual funds really do well for an investor?

There are many ETFs, Mutual Funds and Unit Trusts in the market. Some ETFs advertise a low Expense Ratio and Total Expense Ratio. There are many examples: IVV, VOO and SPY for S&P 500 VNQ, RWR ...
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1answer
30 views

HSA debit overlaps PreAuthorization

I just checked my HSA account after using my debit card for a bi-annual dental cleaning, and the numbers weren't adding up for my expected balance. The debit card transaction is still pending, but the ...
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1answer
75 views

Liability of the acquiring company

Company B was bought by company A. A few years after company B was sued for things it did before its acquisition. Is company A always responsible for all the fines and damaged caused by the ...
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0answers
43 views

Bitcoin options contracts tax-advantaged under Section 1256, aka the 60/40 rule?

Are bitcoin options contracts tax-advantaged under Section 1256 like other commodities futures and options? Even if the IRS wants it not to be, do they really have a say? Don't really see the case ...
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1answer
162 views

Auto loan technicalities in the US

I know what loans are (you borrow money and pay it back plus interest over a period of time), but I have a few questions about the specifics: When you are approved for an auto loan and you proceed to ...
2
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1answer
156 views

Equifax data breach and correct credit monitoring service for $125

for the Equifax Data Breach , there is $125 being paid for people affected , previously one only needed to choose and the cash portion or the credit monitoring by Equifax. As most of the people has ...
2
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1answer
376 views

Scam involving cash, Western Union transfers, and shipping iPhones?

My online girlfriend from Ghana sent me cash in the mail and asked me to use Western Union to transfer the money to a 3rd party. In return I will be mailed 2 apple iPhones which I am to send to her. ...
46
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6answers
14k views

Why do sellers care about down payments?

I'm going through the process of buying a home now. Whenever I make an offer, the seller wants to know how much of that will be down payment. Why do they care? Isn't the combination of the down ...
2
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1answer
64 views

Tax implications of rolling covered calls

I have friend who is using the covered call options. Some time these covered calls are near assignment and then my friend rolls these calls with higher strike price. What are the tax implications ?
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2answers
91 views

Traditional IRA with No Deduction Allowed

Martha is a W-2 employee, lives in the U.S., and works for a company that doesn't offer a 401(k). She is maxing out her traditional IRA every year 2010-2019 but she is not qualified to take any ...
2
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1answer
97 views

Stock promotion laws/regulations

Does the SEC have any guidelines regarding companies promoting the purchase of their shares to hedge funds, pension funds or ETF issuers? Is it legal for companies to compensate ETF issuers or mutual ...
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1answer
78 views

Leveraged ETF for long term investment - quantitative analysis

I know the question of why leveraged funds (eg. SPXL 3x) are bad for long term investments has been asked a lot. I have seen general answers saying that because of daily re-balancing and volatility ...
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2answers
132 views

Tax Rate for 16-Year-Old

What is the tax rate for a 16-year-old who works for $10 per hour? How much would be taken off of their paycheck?
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1answer
111 views

US citizen gifting real estate to non-US citizens

Annie, a US citizen, has 2 houses (around $60K each) to give to her family members and try to avoid or minimize gift tax. She would like to give (a) one to her mother, a US permanent resident; and (b) ...
2
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1answer
145 views

Sending a gift of wine to USA

I sent a bottle of wine from Portugal to Connecticut, USA. This is a gift for my friend. The bottle is 0.75L and costs about 130 euros (about $140). Will my friend pay a tax upon receiving the gift?
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2answers
320 views

Keeping an adult away from their own account at their request

A friend of mine wants to live with me for a while while she gets back on her feet after a recent divorce and cross-country move. She has no current assets. She has asked me, instead of charging her ...
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1answer
43 views

Tax on sale and distribution of mutual fund

I have investments in a mutual fund. That fund grew in value (i.e. had a distribution) So I got a 1099-DIV. I understand I have to pay capital gains tax on this growth. However I also sold some of ...
6
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0answers
72 views

State Income tax when splitting a day between states (in the USA)

First of all, I realize that when traveling to another state for employment it is commonplace to owe taxes in that state for the work performed+sourced in that state. Example: you work/live in ...
3
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0answers
70 views

Are US HSAs taxable in the UK?

I'm working temporarily in the US, but I'm from the UK. I have a Health Savings Account (HSA), which works similarly to a retirement account (penalties for withdrawals before 65, free thereafter; tax-...
4
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1answer
97 views

purpose of uninsured/under insured coverage

If one has comprehensive coverage along with Liability ( Bodily and property), so why does one may need uninsured/under insured coverage for vehicle insurance if he already has Collision.
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3answers
170 views

Dispute Of Unauthorized Transaction on CANCELLED card?

I have two questions regarding the dispute request of an unauthorized (fraudulent) transaction. If the answer depends on whether the card is credit or debit then kindly tell me. First question: The ...
5
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3answers
189 views

Is the profitability of investing in indexed funds properly reflected by the change of value in the index?

I'm reading this article, which makes the following claim: In 1974 the Dow closed at 616*. At the end of 2014 it was 17,823*. Over that 40 year period (January 1975 – January 2015) the S&P 500 (...
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0answers
55 views

What to do if company is not honoring vesting schedule in Pension Protection Act?

Let's say someone works for a company that lets employees contribute to a 401k, and the employer offers a match. Based on my read of the 2006 Pension Protection Act (beginning on p. 2 of the linked ...
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1answer
74 views

Is it safe to use Capital One Bank? [closed]

After the recent Capital One hack, is it safe to keep a savings account with Capital One ?
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2answers
4k views

Are treasury bonds more liquid than USD? [closed]

Does it make sense to say that, in a way, US Treasury bonds are more liquid than USD? I think this because the value of all the bonds in circulation is way greater than all the dollars in circulation, ...
0
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1answer
45 views

Sales tax collection and rounding

I will be selling goods at a festival in New Jersey this fall. I am adding sales tax on top of my price and wondered what the laws are regarding rounding. Is it okay to round to nearest quarter rather ...
3
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1answer
80 views

Can I make multiple estimated tax payments to the IRS in a single quarter?

I know I'm required to make at least one payment every quarter before a certain date, but can I make multiple, smaller payments? Will it cause me any trouble if I do? The most I could find was: ...
3
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2answers
202 views

How to give money to a 10 year old niece on joint business venture?

My niece and I came up with a good idea that I think will make some money. I want to compensate her accordingly for what she has done. I don't want to give her the money now, and I don't want to put ...
10
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3answers
2k views

Do mortgage points get applied directly to the principal? [duplicate]

Lets say I want a $100,000 mortgage. I can get it at x%, or (x-0.25)% if I pay 1 point. If I do the 1 point option, will my first payment be on a $99,000 balance, or a $100,000 balance? In other words ...
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1answer
16 views

US Capital Gains tax for US citizens living in Ireland on US brokerage stock sale

I am a US citizen (Irish citizen also) who moved permanently to Ireland at the end of 2018. For all of 2019, I will be resident in Ireland. I have a US brokerage account (eTrade) and recently sold ...
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0answers
34 views

One spouse in community property state, other spouse in non-community property state, filing taxes jointly

I am a resident of California, a community-property state, earning my income in California. My wife is a resident of Oregon, a non-community-property state, earning her income in Oregon. We file taxes ...
2
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1answer
68 views

USA, NY State Homeowner Post-TCA: Should I pay off mortgage or attempt to find investments?

While trying to build a model for our finances, I've managed to confuse myself reading various threads. Any advice appreciated to get me on the right track or pointed towards modelling spreadsheets. ...
33
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7answers
10k views

If I have an accident, should I file a claim with my car insurance company?

If I am in an accident that causes no personal injury, but causes damage to both cars that requires new panels (and has a quotation of $3,000 to fix mine)... how do I decide whether to claim against ...