Questions tagged [united-states]

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

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1answer
44 views

Can an ETF structured as a UIT be “restructured” to “new style ETF”, whatever this is?

As we learn from several questions such as "Why will SPY terminate in 2118?" and "Do all ETFs have an expiry date similar to SPY?", SPY is structured as a Unit Investment Trust (...
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3answers
319 views

Should I contribute to a 401k pre-tax or Roth after tax if I plan to work for a year and then go back to grad school?

I am completely new to investment for retirement, and just got my first job. My job offers a 401k pre-tax and a Roth after-tax. However I plan return to grad school after one year of working. Is it ...
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1answer
80 views

What address to specify when mailing Form 1040 via FedEx

The IRS website suggests that when filing form 1040 I need to mail it to the following address: Department of the Treasury Internal Revenue Service Fresno, CA 93888-0002 On the same page there is a ...
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0answers
39 views

When paying AMT, might it make sense to take standard deduction even if it's more expensive?

Due to an ISO exercise, I must pay AMT this year. But this was a one-time thing: I will probably not need to pay AMT next year. Since ISO exercises are considered a "deferral item", my ...
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1answer
107 views

Do all ETFs have an expiry date similar to SPY?

Quote from The Fate of the World's Largest ETF Is Tied to 11 Random Millennials: SPY as we know it will cease to be on Jan. 22, 2118 Also chaikinanalytics says that SPY "has an official ...
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2answers
106 views

Does my new insurance plan have to pay for my pre-scheduled surgery (it normally covers this surgery)?

I am 25 and on my parent's plan until I turn 26 on December 25, 2020. It has pre-authorized me for a surgery which is currently scheduled for November 17. However I want to reschedule it to after I ...
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2answers
57 views

What advice do you have for a first-time used car buyer in terms of paperwork and/or legal documents?

My question is about the basic legalities of buying a car in the United States, not anywhere else in the world. I have never bought a car before in my life. I was looking at some used cars for sale on ...
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1answer
66 views

Which NYS employee taxes are optional?

United States and NY state here. I'm looking at my paystub and under Employee Tax Witholdings I'm seeing the following line items taken out: Federal Income Tax Social Security Medicare NY State ...
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0answers
22 views

Is it important for OTC-traded companies to have independent directors?

Most companies that are traded over-the-counter (in OTCQX, OTCQB, OTC Pink) do not have independent directors, but some do. Should the existence of independent directors in OTC companies be considered ...
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0answers
19 views

What are the differences between IPO and Direct Listing, esp for employees?

If a pre-IPO company is evaluating whether they should go IPO or Direct Listing, how would either option affect employees? Let's say the employees have some combination of NSO, ISO, RSU. IPO may be a ...
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1answer
59 views

Which is the day the quarterly reports are released to the public - filling date or accepted date? [closed]

I'm looking at an API of financial reports, and I am noticing a "fillingDate" and an "acceptedDate". "date" : "2019-09-28", "symbol" : "AAPL"...
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2answers
962 views

How is FICA calculated?

I'm thinking of taking on a contracting job next year, along with my current full time job, and I want to know how the two income streams would interact. When income reaches a certain level (~ $137k), ...
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0answers
33 views

Can brokers fill my OTC stock orders by “trading through” and executing at inferior prices?

I am aware that FINRA-registered broker-dealers have to follow FINRA Rule 5310 (Best Execution and Interpositioning). But are OTC stocks (OTCQX, OTCQB, OTC Pink) subject to the Order Protection Rule ...
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0answers
26 views

What are the risks of investing in an unsponsored American Depositary Receipt (ADR)?

What are the risks of investing in unsponsored ADRs? Is the risk different from that of sponsored ADRs? I initially believed that volume would be a problem for unsponsored ADRs, but then I noticed ...
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1answer
110 views

Can money received as a gift be used to fund a Roth IRA?

My girlfriend has been saving money to start a Roth IRA. For her birthday, I'd like to surprise her by giving her cash - double what she's saved. It will certainly be under the annual exclusion of $15,...
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0answers
14 views

W2 details for foreign earned income tax exemption

I'm planning on being out of the US for a 12-month period, and plan to take the foreign earned income exemption. The problem is that my employer uses a payroll service which can only issue a W2 ...
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1answer
2k views

Moving a 401k balance to multiple FDIC-insured IRAs to protect my funds against being wiped out by a market crash?

My wife and I are living on our Social Security benefits. I've been very pleased with the growth of my Fidelity 401k in my former employer's retirement plan. As far as I know, I can leave my balance ...
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3answers
5k views

Current renter wants me to mail application and check to them instead of landlord — is this legitimate?

I responded to an ad on Facebook Marketplace for an apartment. The ad said that they weren't the landlord, but were looking to move out before their lease was up. When I contacted them for a showing ...
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0answers
46 views

What are the risks of buying OTC stocks whose transfer agent is not verified?

I noticed that some OTC stocks have the "Transfer Agent Verified" mark, while others do not. For example, GoldMining Inc. (GLDLF) has it, while Gold Reserve, Inc. (GDRZF) does not. I've ...
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1answer
75 views

Why does short-selling treasuries require significant collateral?

In the vein of this question, I'm curious about getting a loan by selling treasuries. The issue, apparently, is that the proceeds of the short sale is held as collateral. As I understand it, however, ...
3
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2answers
132 views

What is a good vehicle to do ad-hoc savings for kids' college?

My kids are 11 and 14. I've neglected to save any money for college for them, but I want to start now. I live in Maryland. I understand that 529 college savings plans are usually the best way to go. ...
3
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1answer
68 views

Do gains and losses across multiple different investments get netted at tax time? Or is the income tax applied individually for each?

Lets say I have online brokerage A providing me with an individual (non-retirement) investment account. Call it X. I also have a Forex account, call it Y. If I make $500 in X, and -$300 in Y on the ...
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3answers
138 views

Could a sizeable charitable contribution bump me into a lower income tax bracket?

As an unmarried individual in the US, if already donating a significant portion of one's income to charity, is it possible to to be 'bumped' into a lower tax bracket? For example, say I make $60k and ...
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6answers
5k views

Taking more amount in mortgage than what I need

I am going to buy a house soon. Paying 10% down. My credit score is > 800. I wanted to to take additional money in mortgage to put it in some low const index fund like SPY. The house is going to be ...
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1answer
56 views

U.K social security eligibility

In the USA one needs to have accumulated 40 credits in order to become eligible for social security. Does the UK have a similar credit system? What are the eligibility criteria for UK social security? ...
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1answer
40 views

If one has short- and long-term capital losses and gains, can one harvest short-term losses to be deducted against short-term capital gains in the US?

In year 2020 I have: - short-term capital losses = 2000 USD - long-term capital losses = 3000 USD - short-term capital gains = 2500 USD - long-term capital gains = 5000 USD Can I harvest the ...
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2answers
460 views

Objectively, would it be better to sell my condo, or rent it out?

I bought a condo in 2016 for 160K, and this has been my primary residence since then. The loan was 152K, at 4.125% APR. I currently owe about 139K. My mortgage is 898 (includes taxes and insurance in ...
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2answers
484 views

How is it secure to allow withdrawals from my bank by just giving an account number to a financial institution?

To pay my credit card, I just need to enter my bank routing and account number. (US institutions.) That's it. How is that secure? Anyone could enter my bank number and so withdraw my money.
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1answer
46 views

When harvesting short-term loss, can the losses be deducted against my income if I don't have short-term capital gains, only long-term capital gains?

Regarding tax-loss harvesting in the United States, https://www.moneyunder30.com/profit-from-tax-loss-harvesting (mirror) mentions some priorities between short-term capital gains and long-term ...
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1answer
76 views

Is there any upside in harvesting tax losses on long-term losses instead of short-term losses?

Assume that one has the choice between taking long-term capital losses and short-term capital losses, and assume that, since the year hasn't ended yet, one doesn't know all the short-term and long-...
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1answer
135 views

Accidentally filed my taxes using TurboTax as a US citizen while I'm not

This is about an F-1 International student since 09/2019 and it concerns the 2019 tax year. I did my taxes properly and filed them by mail. A lot of time had passed and I couldn't even find my status ...
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2answers
2k views

Have maxed out retirement savings and have some cash on hand. Do I use my brokerage account?

I have a few Fidelity accounts including a 401k, a Roth IRA, and a brokerage account. My brokerage account is empty right now because I sold some Yahoo shares quite some time ago and moved that money ...
2
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0answers
39 views

Can 501(c)(7) members buy optional goods and services from the social club, where other members might abstain?

I understand that, typically, 501(c)(7) ("social clubs") charge their members dues. However, after reading the IRS's documentation, I am not clear about their stance on members voluntarily ...
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8answers
7k views

How could an amateur investor make money off of a market crash?

Assume someone 'knows' that a market crash could occur within the next couple of months, and has no access to 'professional tools'. What methods could this person use to prepare for the crash in such ...
3
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1answer
82 views

Withdraw and return Roth IRA contributions?

If I have a Roth IRA with $10k, $8k of which was contributed by me then can I withdraw $4k and put it back? I understand that it won't be taxed since it is already "after-tax" money but ...
1
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0answers
36 views

Benefits of identifying as 501(c)(7) versus just regular non-profit?

United States/NYS here. My understanding is that nonprofit corporations do not have to pay any federal or state taxes, only file a Form 990. My understanding is that a 501(c)(7) is a special tax-...
1
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1answer
49 views

Can a 501(c)(7) receive external donations from non-members?

United States/NYS here. Can a 501(c)(7) tax-exempt nonprofit ("social club") receive outside/external donations from non-members (individuals or businesses alike)? For example: lets say ...
5
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1answer
80 views

Wrong Cancellation of Medical Insurance

I enrolled in medical, dental and vision during open enrollment. I saved the summary after I submitted. The summary shows all my elections. Insurance was supposed to start on September 1st. I received ...
3
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2answers
106 views

Qualifying for home equity loan

We're in the initial stages of looking to downsize. The price of the new home is expected to be close to our current home (no mortgage), with the latter expected to sell quickly, so a short period ...
3
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2answers
115 views

WFH for a non-profit as a programmer. Can I buy a $400 laptop for my job and use it as a tax-deduction in the US?

I met with them today and was told I'm being given a 1099 form. I got a Work-From-Home job doing programming for a science based non-profit. There's been no talk of providing me with a company laptop ...
2
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1answer
46 views

TreasuryDirect / Treasury bond question

I inherited old paper Treasury bonds and don't know what to do with them. Questions: Before I give TreasuryDirect my SSN, is it a legitimate US bond site? Has anyone been able to mass upload the ...
4
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1answer
306 views

For medical charges, how much does insurance company pay?

I had a doctor visit with a specialist recently, and my insurance company gave the following explanation of the claim: Service charges: $522 Health Plan Allowed Amount: $157.64 Deductible: $157.64 ...
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1answer
51 views

Better loan option: PMI or Higher+variable interest?

I'm looking at two options for a home improvement loan (around $20,000): the first is a federal title 1 loan, which would be a fixed interest rate of around 4.5% (at the time of initial quote), BUT ...
2
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1answer
57 views

Social security disability benefits

I read the following in my social security statement. "Disability — If you become disabled before full retirement age, you can receive disability benefits after six months if you have: — enough ...
3
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2answers
188 views

If you change to a new employer, does dental lifetime maximum reset?

Suppose that you have a lifetime maximum with Provider A at Employer A. You use your $1500 lifetime maximum for major work. Then you get a new job. Then you want to do more major work. You get an ...
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0answers
31 views

Tax residency for Indian student in Germany and US

I am a citizen of India and I studied in Germany for three years (Sep 2017 to Aug 2020) before moving immediately to the US in Aug 2020 to start a doctorate program. Is my country of tax residency ...
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1answer
43 views

How does day trading work regarding waiting for funds to clear?

So, I understand the PDT rule, needing $25k in an account to day trade, however... If a person is day trading, don't they need to wait 3 days to use that money again? Do they just have very large ...
3
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1answer
75 views

I work from home in Texas but my projects are for clients in different states (CA, PA, TX)

I work from home in Texas for a consulting firm but my projects are located in multiple states. I have two scenario questions. Scenario 1: I never travel outside of TX for work. Do I need to pay state ...
22
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1answer
2k views

Social security letter urges to apply now

I'll turn 70 in about 4 months. I just got a letter from the SSA saying What You Should Do: You should contact us right away to apply for your retirement benefits. You need to complete an ...
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2answers
113 views

How much can I contribute to a Roth IRA?

I worked part time for part of the year, and earned less than the maximum contribution amount, so I can only contribute up to the amount of my income. Which income number is that? Gross pay, net pay, ...

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