Questions tagged [united-states]
For questions that relate to the laws, practices, and products of the United States.
14,160
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If you are not eligible for social security by 70, can you continue to work to become eligible after 70?
If you start working in the US late in life and don't have 40 credits by the time you turn 70, can you still become eligible for social security if you continue working past 70?
Various sources say ...
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1
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Why have I paid more in fees than the published expense ratio would account for?
Via my employer's retirement plan, I have some money invested in a fund with an advertised expense ratio of "($0.13 per $1,000) 0.013%". (This is listed as both the gross and net expense ...
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1
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Does “sales price” include sales tax for the IRS Used Clean Vehicle Credit?
I am considering purchasing a used electric vehicle (EV) from a dealer, and I am wondering whether it qualifies for the 2023 $4,000 Used EV Credit from the 2022 Inflation Reduction Act. According to ...
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Does an employer need to know his contractors'/employees' birthdate to correctly file taxes?
If so, then how to verify a birthday and what if a contractor or employee lies about his/her birthday?
Sometimes a payroll software will automatically do the taxes, but certain payroll software only ...
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Counter-intuitive distribution of Child-Care Assistance in New Mexico, USA: Would my family be better off earning less?
My understanding of how NM's child-care assistance program works is that my family would be financially better off if our income were lower. I'm hoping someone can explain why I'm wrong.
Eligibility ...
4
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2
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Making separate individual estimated tax payments when married filing jointly
My spouse and I typically file our tax return as married filing jointly due to the advantages like the child and dependent tax credit, and we plan to do so again this coming year.
This year, we have ...
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2
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Energy accounts fraudulently opened in Texas
I don't understand this scam. My wife had several energy utility accounts opened in Texas. They were all opened at the same time, for different addresses, and with different energy companies. They ...
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1
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Employer not sending corrected W-2. What can I do?
For USA tax year 2022: I got my W-2 via ADP in February 2023. It had a mistake and I requested a corrected version (W-2C) in March 2023. Tax filing was due in April 2023 so I filed an extension (...
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4
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Does paying cash for a car for a better price work?
I have heard that you can often negotiate a better price for a used car if you pay with cash. Here is just one of many articles on the topic. In this case, I believe that by paying with cash people ...
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Will I be asked to allow a credit check or requried to give my SSN if I pay cash for a used car?
This [older] post (link) makes it sound like it's likely I'd be expected to complete a credit application, give out my SSN, etc., if I walked into my local dealership and said I wanted to pay cash for ...
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How can a regular consumer, use FedNow for cash transfers?
I am so sick of the hassle of Zelle, Venmo, ACH, Cash App, Wires and "bill pay". Where there is no limit, there is a fee. Where there is no fee, there is a multi-day delay.
According to the ...
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On which day in October are US student payments due?
Media says payments are due to restart in October. But when?
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Can I include the costs incurred for adding landscaping to the cost basis of my house?
Although there is a $250,000 gain exclusion for those who qualify, it's probably a good idea to track costs beyond original purchase price to track a more accurate cost basis. I've read that expenses ...
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Looking in three different states to retire to: Should I be shopping for pre-approved mortgages first? Or wait to find a house?
It's mid-2023. My husband and I are looking to move, possibly to MA, CT or VA. We haven't found property yet (Or even have ours up to sell yet because I'm nervous on listing and not having a place to ...
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Historical Prices of Gasoline vs. Crude Oil in the United States [closed]
If this question would be better placed on another site, please suggest.
I would like to know where I might obtain information on a monthly (even yearly) basis which compares the average price of ...
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Are Meals part of expenses?
I drove from Pittsburg to Philly to meet with customers. I left my home at 6:00 A.M. and did not get back from Philly until 11:45 P.M. that night. I was very busy and all 3 of my meals were takeout ...
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will car insurance cost increase if I have accident with small payout?
I scratched rear fender and bumper of my 2015 Mercedes s550 when I was driving inside garage. I have $1k deductible and it's gonna cost around $2.5k to repair.
Should I expect insurance cost to go up ...
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2
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Tax Reporting and a Defective Trust
By a defective trust, I mean a trust that meets the definition of a trust for estate tax purposes but not income tax purposes.
Consider an irrevocable defective trust that is setup without going to ...
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2
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1
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Taxes for selling property in foreign country
I've been owning half of the house in Russia before I immigrated to the US and I recently inherited the 2nd part of it. Now I'm thinking to sell it.
Should I pay any taxes in the US if I sell it?
I'm ...
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Non Resident Alien with a W2 and a 1099B - What are the obligations here?
I worked in the United States between the 1st of January 2023 and April 15th 2023. In addition to salary I had some RSUs and my company would sell some of the RSUs to cover tax obligations. The broker ...
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Can I buy I-bonds with my tax refund, as a non-resident?
I want to own American I bonds, but I'm not a US citizen/resident so I don't have a SSN (I live in Canada). As such, I can't just create a TreasuryDirect account and buy I bonds there.
Here's my plan:
...
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4
votes
2
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530
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Tracking down old IRAs / 401(k)s
How does one go about tracking down 401(k)s from previous companies? Is there a more convenient method than trying to get in contact with HR from these past companies? I wouldn't mind paying for a ...
2
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1
answer
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IRA withdrawal for new construction home and 120-day rule
As per IRS Section 72(t)(2)(F) (paragraph (8)) one can withdraw up to $10,000 for a qualified first-time home purchase penalty-free. The withdrawn funds must be used within 120 days.
If one is buying ...
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2
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1
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394
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Taxes, personal mortgage loans, and interest. IRS Form 1098?
My sister has a personal loan for the purchase of her manufactured home, issued by the owner. She'd like to be able to deduct the loan interest from her taxes.
As far as I can tell from IRS ...
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2
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115
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Will I lose any Principal if I cash in a CD early?
I've had a 35 month CD for 11 months and thinking about cashing it in now. Will I lose any principal if I cash it out now or would it vary by institution?
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How can the purchase cost of a treasury bill be more than its face value?
I'm considering (non-competitively) purchasing a 52-week Treasury bill through Treasury Direct. As I understand, the purchase price is reduced by the discount rate and therefore is always less than ...
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2
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1
answer
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Coverdell ESA income limits - whose income matters?
My children are fortunate enough to be gifted money each year by their grandparents for their birthdays. The grandparents want the money placed in each child's Coverdell ESA, but they give the money ...
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Which REIT dividends are eligible for QBI deduction?
There seems to be a lot of conflicting information about this so I thought I would ask here.
I am wondering if all REIT dividends are eligible for QBI deduction. And by ALL, I literally mean ALL.
I ...
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Can an IRA contribution with after tax money be deductible?
I am trying to make an amendment for 2020 tax year. In December 2020 I contributed $6000 for Roth Ira and $6000 for traditional Ira (I did not know any better). I used after tax money in both ...
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Question about the specifics of the safe harbor rules for underpayment penalties
For the safe harbor rule for underpayment penalties, you don't have to pay a penalty if:
You expect your withholding and tax credits to be less than the smaller of:
a. 90% of the tax to be shown on ...
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2
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Claiming Federal Tax Withholding Exemption for first year in US
I am a student, and it is my first-year present in the United States. According to sources, I am eligible to claim exemption from federal withholding if the following two conditions are met:
You owed ...
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New US tax resident 2022 - from Canada. RRSP/bank-accounts/income questions
I moved from Canada to USA on May 30 2022 and work here as a full-time W2 employee. That makes me a US tax resident (alien) for 2022. Here's my detailed situation:
I earned a salary until May 26 2022 ...
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14
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Is my algo trading illegal?
I have algo trading program (written by myself) and when it detects that price are going down it's going to sell shares (if I have one) wait a couple of sec/min and buy the shares on lower price.
Last ...
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5
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402
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Renting my first Apartment at 61
I am 61 years of age, retired and I have never rented an apartment or bought a house. I currently live in a single family home (which I will be inheriting soon) which I plan to sell next year and move ...
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If I buy and hold my ISOs pre-IPO, what access do I have to shareholder/board meetings?
Let's say I have some vested incentive stock options with the startup that I work at (company and I are both in the USA). The company has not gone public at this point in time.
If I buy and hold my ...
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Figuring out the tax basis of property inherited 15 years ago
In 2008 my father died. 15 years later I just sold the property that I inherited from him. Now I need to pay capital gains on that property, but what do I use as the tax basis?
I could just assume the ...
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Do I have to wait until a Treasury Bill auction date to buy a 52-week non-competitive bill, and will reinvesting give me the same rate a year later?
I am considering purchasing through TreasuryDirect, a 52-week Treasury bill which is scheduled for auction Aug. 8th (2023). When can I actually submit my purchase? Should I wait until the latest in ...
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2
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2
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151
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Capital loss carryover in low-income years with capital gains
Let's say I bought 100k worth of a stock a long time ago. Over the years, I've received (and paid income tax on) 50k in dividends. The stock tanks, and my shares are now worth only $50k. I decide ...
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Which stock to sell?
Situation
I am based in the USA and own two stocks from the same company, one that I bought at a price of $50, and one that I bought at a price of $70. I have held each one for over a year, to avoid ...
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Vanguard legacy mutual fund account held shares of the same fund that's used for brokerage sweep accounts. Now what?
Vanguard announced new annual fees on legacy mutual-fund-only accounts to start September 1, 2023, so this convinced me at long last to transition all my Vanguard legacy accounts to brokerage accounts,...
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Did the tax laws regarding trusts significantly change?
I saw a YouTube video come up that said something about how some of the tax incentives of trusts significantly changed in the US tax code. The video said it was changed very quickly in a way people ...
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Why a relatively low limit for ACH transfers?
The ACH system supports transfers up to $1 million. However, the highest
limit I see on this list of major banks is only $25,000. Why do banks set
a relatively low transfer limit? From my ...
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Tax benefit of custodial brokerage account
If my understanding is correct, then the tax benefits of a custodial brokerage account are (in 2023):
Sheltering of up to $2200 of unearned income / year
Avoid gift taxes on gifts up to $15,000 / ...
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Mortgage escrow and insurance premium refund
I live in Florida. Two months ago my mortgage company sent payment (almost $5K) to my previous home insurance for auto-renewal. I found another insurance company to cover my home for far less and ...
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How to determine which dividends are qualified vs non-qualified when calculating quarterly estimated taxes?
I have enough dividend income that I need to pay quarterly estimated taxes. When I look at my monthly statements, I'm not seeing any indication of which dividends are qualified vs not, but I need to ...
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A car dealership sent a 8300 form after I paid $10k in cash for a car. Am I in trouble?
$10,000 cash was gifted to me by my mother, and I went out and bought a car with the $10,000 cash. The dealership sent me an 8300 form saying they sent it to the IRS, so what is going to happen now? ...
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Taxes for W2 + 1099
I have a full time job as a normal employee (W2) which pays $127k / year. Having always been a W2, I know the familiar taxes on the check:
Federal Income Tax
State Income Tax (CA)
SSI
Medicare
I ...
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Need help understanding Estimated Tax payments and safe harbor rules
I have not worked for the first half of this year and have some modest dividend/interest income that would end up being less than $1000 in taxes by the end of the year, so I have not been paying any ...
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where is all the financial data published: symbols, earnings yield, return on capital
How does one get their hands on publicly-traded company financials? is there an official repository for this?
i’d be interesting in looking at the list of available stock symbols
a company’s ...
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is the treasury bill portion of a bond fund subject to state/local taxes?
Assume we have some fund (like a money market fund) with x% of the capital in treasury bills. Treasury bills are not state or local taxed.
If I invest some capital into this fund, is my entire portion ...
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