Questions tagged [united-states]

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

Filter by
Sorted by
Tagged with
10
votes
1answer
371 views

What can I plan for to save money on my mortgage?

I am a first time home buyer and any advice is greatly appreciated. I am going to start shopping soon for getting a mortgage and I need to know what strategies I can use to avoid paying more than is ...
1
vote
1answer
252 views

J1-Intern Tax Filing Help

I'm a Canadian citizen and I did two internships in the states last term. What forms do I need to fill out for the US Tax Return 2012? Is there a guide for people like me? Any help would be ...
5
votes
1answer
88 views

FAFSA implications of filing jointly?

Recently our accountant filed a tax return as married for my partner and me (we live together). She is applying for FAFSA and is not sure whether she should be reflecting her marital status from our ...
0
votes
1answer
464 views

If I transfer brokerages for a taxable investment account, who is responsible for sending Form 1099s?

I am considering transferring brokerages for a taxable investment account. Will the new brokerage be responsible for sending me all Form 1099s for tax year 2013? Or is the old brokerage still ...
5
votes
1answer
641 views

If I amend my federal tax return before I file my state taxes, what do I do?

I filed my federal taxes a couple of weeks ago, then realized I needed to amend them, so am going to file a 1040X in the next week or two. I have not yet filed my state (Oregon) taxes. I've been using ...
4
votes
3answers
407 views

Is there a no-fee way for Americans to send electronic payments to American small businesses?

currently I have a registered business with a client that pays me every two weeks. Normally I send an invoice, and he sends a check via snail mail. We would like to move this to something online. ...
5
votes
2answers
3k views

401k Catch up Provision - Limits on timing?

My girlfriend, a Highly Compensated Employee (HCE rules in effect), has her 401k contributions in check by her plan and HR. However, she is also 50+, thus eligible for the Catch Up provision for $5500 ...
0
votes
1answer
219 views

Holding a bank account in the US, without citizenship, while no longer living there

I travelled to the US for a 3 month project and was paid into this account. I have since left and still have money in the account and still in good contact with the people whose address I stayed at. ...
4
votes
1answer
206 views

Failed attempt to refinance my rental property, can I deduct the cost of appraisal?

I attempted to refinance my rental property in 2012, but the appraisal came in low making it impossible. Can I consider the cost of the appraisal and rent schedule (close to $600) to be a rental ...
7
votes
1answer
1k views

Are commissions paid to realtors for finding tenants for my rental property tax deductable as a rental expense?

I used a realtor to find a tenant for my rental home. I paid her a commission of the amount equal to the first months rent. Is this what turbotax means by Commission Expenses "Commissions paid to ...
3
votes
2answers
340 views

Filing taxes in two states with combined income of over $106,800

A friend of mine resides in CA full time but has two jobs and received a W-2 from California and one from Utah (he never lived in or had residency in Utah). His W-2 from each state was around $70,000. ...
11
votes
4answers
638 views

Buying a house for a shorter term

I've lived under the impression that it is never wise to buy a house (as your home) unless you are planning to live there "at least five years" (or something like that). But is this necessarily ...
2
votes
1answer
152 views

Is there a problem with buying small amounts of a no-fee mutual fund every two weeks?

I am treating my HSA as a retirement account. To max it out I contribute about $100 every pay period (roughly every two weeks) pre-tax, plus employer contributions sprinkled in occasionally. Once I ...
3
votes
1answer
105 views

Individual 401k and employed at another company

I am a US resident currently employed at a company that I don't own, a peon. I want to do some work on the side so I was going to setup an LLC. With that LLC I was going to rollover 401k funds from ...
5
votes
3answers
391 views

Bill to expect after receiving basic emergency services at out-of-network hospital

Edit: follow-up question w/ resolution info and another billing-related concern. Recently I broke a finger while playing sports. The finger was clearly broken/disformed. Also I received a minor head ...
12
votes
1answer
93k views

What happens if I receive a refund on a credit card with $0 balance?

Let's say I make a purchase on a credit card. Months pass, and the card is eventually paid off. For whatever reason, I am then issued a refund on one of my past purchases. What happens? Do they send ...
0
votes
1answer
75 views

Which state do saving interests come from?

Suppose you have a banking account opened in state X and you live in state Y. If you earn interests with the account opened in state X, can that be considered income from state X, or should it be ...
2
votes
1answer
141 views

Refinance and then take out home equity loan

I'm going through a divorce and I want to keep the house if possible. I thought about refinancing the house and taking out an additional 25k to pay off my wife. The lender said I could only take out ...
5
votes
1answer
526 views

Is a blank voided check the same as a fully filled out voided check?

For the last year now, I've collected checks for a company. Procedure is to collect and void the check. For some reason, I'm now asking for a blank voided check. Isn't a check that's voided just that,...
4
votes
1answer
352 views

Is it a bad idea to have both pre-tax and Roth money in a 401k?

From reading this article, it seems extremely hard to "separate" the pre-tax and the Roth parts of 401(k)s -- you must always move them together. But moving them together is often not efficient; e.g. ...
7
votes
2answers
349 views

Personal liability insurance with no car or house

Is it possible to get a personal liability insurance if I don't drive (I don't have a driving license and I don't own a car) and if I don't own a house (I am renting)? The use case I'm thinking about ...
16
votes
1answer
1k views

What happens to an HSA when I am no longer eligible to contribute?

Can I still make qualified distributions from an HSA (Health Savings Account) if I am no longer eligible to contribute? Otherwise, what happens to any remaining balance in the HSA? Example: Say I ...
8
votes
1answer
2k views

If I don't participate in my employer-sponsored FSA, can I open my own HSA?

My employer offers/manages an FSA (Flexible Spending Account) as part of my health care plan. I put in $800 last year and barely managed to use it up, including expenses in the allowed grace period (...
2
votes
2answers
62 views

Closing intermediary credit lines

So one consequence of closing a credit line is that it can adversely affect your credit history if it is your oldest credit line. But what about closing credit cards you acquired along the way that ...
5
votes
1answer
12k views

Transferring money from 403B to 401K?

I worked for an employer with a 403b and contributed, but my new employer only does 401k. Can I put the money from the 403b into the 401k? How?
3
votes
1answer
746 views

If a company goes private, does it still count as a capital gain/loss?

This is related to "What happens to public shareholders when a public stock goes private?" I am pretty sure the answer is yes, but: If you own stock in a public company which is bought out, does it ...
4
votes
3answers
613 views

How should we prioritize retirement savings, paying down debt, and saving for a house?

My wife and I are newlyweds. We currently have 6 months' emergency fund (3 months are currently in a CD, and 3 months in a high-yield savings account.) We are contributing to get the full match in her ...
1
vote
3answers
2k views

What are the minimum investment requirements for the S&P500 spyder (NYSE:SPY)?

The current price for the S&P500 SPDR ETF is about USD 150, so I would guess that I need approximately USD 15,000 to purchase the minimum lot of 100 shares, as well as the transaction costs, which ...
5
votes
2answers
413 views

Paid part of my state refund back last year; now must declare the initial amount as income?

Sorry for the terse title, here is a more fleshed out explanation: When I filed my 2011 taxes last year, I received a refund from my state of residence (Arkansas). Later last year I had to amend my ...
3
votes
1answer
619 views

How do I tell if employer tuition assistance is included in taxable income?

I am almost done with my taxes, however I have reached one spot that I cannot figure out. My 1098T shows my employer assistance credit as $4925. Also, my brother is using the assistance with a total ...
0
votes
1answer
678 views

Include all W-2 forms on a Part-Year-Resident State return?

I lived in State1 for the first 10 months of 2012, and then State2 for the remainder of the year. I've already e-filed my federal return and my state return for State1. However, my tax software ...
8
votes
3answers
2k views

How to avoid tax when taking a windfall in small chunks?

My software company has no employees but me, and makes a million dollars a year. I expect it will do so for about 3 more years and then close its doors. I'm 30 years old. My family lives below our ...
8
votes
3answers
392 views

What is the best approach to save money for College for three kids?

I have three kids ages 4, 3 and 0 and I am concerned about the cost of college education for my daughters. A lot of the "public" schools (not community colleges) cost between $20,000 to $24,000 a year ...
1
vote
1answer
2k views

I married a noncitizen. How do I properly file a W7 with our joint return?

From what I understand, an SSN or ITIN is required to file a tax return, and when filing with an ITIN, you are ineligible for the EIC and you cannot eFile. My issue is this: my wife preemptively had ...
10
votes
1answer
9k views

I'm in the US on F1 visa, received a W2. Not sure what to do now

I came to the US a few months ago to pursue my higher education. So I worked as an RA in my university last year, and just today received a W2 form in mail. It doesn't say anything about what I need ...
9
votes
1answer
468 views

Savings Account Rates vs. CD Rates vs IRA CD Rates

I have an IRA at Fidelity, and was looking into rates I could get for new issue CDs. I found that the best rate offered for a 1 year CD was 0.3%. I was surprised by this, as I currently have a (non-...
4
votes
2answers
2k views

Capital Gains taxes on an inherited house

My grandfather passed away in 2011 and my father inherited his house. We are looking to sell the property now and are concerned with capital gains taxes. The property has a market value of around $...
4
votes
1answer
8k views

Calculating capital gain tax on selling rental property I lived in for a while, and renovated?

I am finding it extremely difficult to get an answer to this question. I can understand if its not possible to give me an exact number but I am just trying to figure out, roughly how much I will be ...
1
vote
1answer
137 views

Equity or alternative compensation in an LLC?

I am currently working for a real estate startup (LLC) that wholesales REOs nationwide. I was one of the earlier employees to get hired. Since my time of employment, the company has been expanding ...
9
votes
1answer
241 views

Are there downsides in refinancing with 5 and 1/2 yrs left?

I have 5 and ½ years left on my 15yr 4.75% mortgage. I originally borrowed $200,000, and according to the amortization table, I will pay a little over $12,000 in interest on the $86,000 left. I have ...
6
votes
1answer
9k views

Received W-2 but was never paid

I just now received a W-2 from a company that I worked for 3 days as a contractor. I had to leave country for 2 months due to a family emergency. Since the employment duration was very short, I was ...
4
votes
4answers
2k views

How should I calculate the opportunity cost of using a 401(k) loan?

I've seen a number of financial articles that discuss the "opportunity cost" of using a 401(k) loan; however, I don't seem to recall ever seeing a good formula or calculation that can be done to ...
7
votes
3answers
33k views

How to deal with my job change & 401k loan that I can't fully pay back?

It's been 60 days since I changed my job and I have an outstanding 401(k) loan of $30K(+30k non loan amount). I have only $20K to pay and my 401k plan won't accept the partial amount. I still didn't ...
2
votes
1answer
278 views

Get tax deduction for expensive car expense

Recently I paid a lot (almost one month of my salary) for repairing my car. I am wondering if there is a way to get deduction on federal or state taxes (USA, California).
11
votes
2answers
58k views

Donation Value Of “One Bag Of Clothing”

Early last year, I donated clothes to Goodwill and received a donation receipt for "one bag of clothing." I have no memory or documentation of exact contents to calculate an amount. Given only the ...
4
votes
4answers
2k views

What's the best way to handle FSA transactions in light of a pregnancy?

If a worker makes contributions to a dependent-care Flexible Spending Account, and that worker expects she will be on maternity leave for a portion of the year, much of which will be "unpaid", what is ...
2
votes
1answer
133 views

When can I start making contributions to a 401k

I'm moving to the US this year. When can I start making contributions to a 401(k)? Can I start as soon as I get my first pay check or do I need to wait until I file my taxes?
2
votes
1answer
79 views

Would student loan consolidation through a private party still be tax deductable?

I have a private party that would be interested in paying off my student loans and in turn, extend me a loan at a slightly reduced interest rate. This makes sense to me until I get to the point where ...
3
votes
3answers
7k views

Primerica: All it claims to be? [closed]

I've recently been contacted and had a conversation with a Primerica representative. Their claims of having the absolute best life insurance and getting above average returns on investments sounded ...
3
votes
1answer
468 views

New construction closing in a year; how can I lock in mortgage rate?

I've just contracted for a new house in Florida to be built. The closing won't occur for approximately a year. Is there a way to lock in a mortgage interest rate for so long in the future? It will ...

1 182 183 184 185 186 214