All Questions

0
votes
1answer
99 views

Can I sell my Nevada LLC's remaining inventory to myself at liquidation prices to avoid high sales tax?

I have a small Nevada LLC that I'm dissolving. I used it for ecommerce, but business has been bad the last year and now I've got some inventory left over. Because all of my inventory was bought for ...
1
vote
1answer
19 views

Clarification on line 12 of US tax form 1120S for S Corporations

Background For the 2018 tax year I paid a total of $765 in Quarterly Estimated Payments; US tax form 941. This is the first year I've done taxes as an S Corp with myself being the sole shareholder ...
2
votes
1answer
62 views

Risks and threats in signing empty SSA-89 form

A financial institution is asking to sign form SSA-89 which is used for verification of the social security number assigned a person. This verification is requested by a third party. The third party's ...
0
votes
0answers
24 views

How to properly tune insurance deductible/excess for risk appetite

We all know you can arrange a higher deductible (USA) or excess (UK) to pay a lower insurance premium. My question is, is there an established method to identify what is the optimal size of ...
3
votes
3answers
219 views

What (and how hard) can I REALLY bargain when buying a new home through a builder?

I am about to buy a brand new home in the state of Texas. It should be ready in about 12 months. The home is being bought through a builder and therefore I have a few floor plan options (I can add or ...
0
votes
0answers
61 views

man wants to send me money but wants my username and password- if i create a new bank account will i be safe? [duplicate]

a man contacted me on instagram for a sort of sugar baby arrangement, and wants my bank username and password to deposit money into my account. he says he needs this information so he can structure ...
0
votes
1answer
64 views

How to use Social Security survivors benefits data in calculating the amount of needed life insurance?

I see a question How much life insurance do I need? , but I want to buy least amount of Life Insurance but still cover my kid and spouse. We all get annual social security statements and it mentions ...
2
votes
4answers
257 views

Former employer deposited money in my 401K by accident

Former employer put about $3K in my 401K after I had left the company for 1 year. A year later they discovered it and are asking for the money back. Do I legally owe this to them?
0
votes
0answers
31 views

How does time impact the resale value of a fixed-term deed?

I own a property that I purchased from the previous owner. It is a 75-year deed with 35 years remaining. After 35 years, ownership reverts to the original landowner. I don't plan to sell for another ...
1
vote
1answer
179 views

Leaving my apartment early

So I have 7 months left on my lease, and my lease says If I leave early I must pay every month of rent plus a $2,500 fee. But what if I just move out and continue to pay rent each month for the ...
3
votes
1answer
51 views

Reimbursing myself for health related expenses years after they occur w/HSA?

I have an HSA which I primarily use as an investment vehicle, I have not taken any money out for eligible expenses but continue to contribute and invest those funds. I have read that I can essentially ...
3
votes
1answer
125 views

Using the gift exception to get more money to charity

Like most middle class families after the 2018 tax code changes, even with a mortgage I'm very far from being able to itemize. Looking at how to optimally give to charity, it seems like a shame to not ...
0
votes
1answer
45 views

Tax in the Netherlands

I have a question regarding tax in the Netherlands. I have a gross monthly salary of 3,500. I am allowed to enter the 30% tax ruling (young employee with masters). Then what is my monthly net income? ...
1
vote
2answers
165 views

Reporting crypto currency transactions to IRS

I have made 300+ crypto currency transactions in 2018. Do I need to report all these 300+ transactions to IRS? If yes, what is the procedure? My tax consultant is saying we need to report only ...
1
vote
0answers
33 views

Top Indian ETFs (BSE/NSE)

I would like to find popular ETFs that are similar to QQQ and SPY but are based on the top 50/100/500 Indian companies and are traded in BSE/NSE. Results from Google were mostly ETFS that trade in ...
0
votes
1answer
42 views

How can I calculate the ROI of an investment from its cash flow?

I've my company cash flow and I'd like to understand if my company is more or less profitable than lending money asking back a 6% yearly interest. Where can I start from? Is there any Excel Formula?
0
votes
0answers
48 views

Can I pay a non-USA resident in stock?

I have a private C-corp company. I have a guy in Australia who is doing some work for me soon as a contractor. Is it possible to pay him in stock in my US based company? If so, is there anything ...
0
votes
0answers
29 views

If I have stock that is unregistered at the time of a company buyout does my stock automatically register?

I was a contractor for a small public company for which I received stock compensation. There is a fee to register the stock so I am waiting to see if the stock ends up being worth anything before ...
1
vote
1answer
80 views

If you take the standard tax deduction, can you still claim the Child Tax Credit?

If you take the standard tax deduction, can you still claim the Child Tax Credit? I can't find the answer with Google.
0
votes
1answer
33 views

Dollar limit for Canada-US income tax treaty?

I heard a rumor that there is a dollar ceiling around $200,000/year above which the Canada-US income tax treaty doesn't apply, or at least changes its behavior. What could that be referring to?
2
votes
1answer
170 views

Does not paying a collections company affect credit score?

From a discussion in comments, a question came up. For the purpose of this question, all I care about is my credit score. I got a credit card, used it and did not pay it back. The credit card ...
37
votes
1answer
7k views

“Marked down as someone wanting to sell shares.” What does that mean?

A few years ago I and a few friends created a company based on the web. During the raising funds period, we got a plan for $500,000 for 20% and we got investors. The last news about investors that I ...
1
vote
2answers
142 views

Should I pay off a credit card or a collection balance first?

I have a collection and a credit card with roughly the same balance. I received a bonus and I am able to pay off one of them completely. Which is more beneficial to pay off first?
3
votes
0answers
66 views

Relocation to US

I am relocating to Texas from India along with my family in the month of July 2019 to pursue a Phd. In order to effect a smooth transition, would like some advice on how to setup things to manage my ...
-2
votes
1answer
69 views

Help on Unknown Currency/Country code

Are the below valid Current/Country codes: BML IPE IPF NBR NUL NYM If valid, can you point to the correct source?
13
votes
1answer
1k views

Acquisition - what happens to stock? [duplicate]

It was announced in October of 2018, that IBM will acquire Red Hat (RHT) for 190 per share. I have shares of RHT. Current price is in the 180 range. What will happen next? Will my shares be converted ...
1
vote
1answer
37 views

AMT credit against regular tax

I live in California. After having paid AMT for the last few years, this is the first year when my regular taxes are higher than AMT. This seems to mean I have accrued AMT credit over the last few ...
2
votes
2answers
111 views

Do I have to pay estimated taxes?

I had a financial windfall in 2018, pre-paid taxes to account for this, and ended up getting a refund. Turbotax included several 1040-ES forms for paying estimated taxes for 2019, I assume based on my ...
0
votes
0answers
38 views

Why is the 1-year return of Mirae Asset India Equity Fund - Direct - Growth is being calculated as 10.6%?

According to Groww, 1-year return of Mirae Asset India Equity Fund - Direct - Growth is being calculated as 10.6% according to the data pulled on 15-Mar-2019. However, I am not being able to verify ...
5
votes
0answers
91 views

Ought a 63-year old working hotel employee contribute to his RRSP?

Global News, MoneySense, the Wealthy Barber, and Reddit are too broad. But if we apply them to the facts on my dad beneath, then my dad oughtn't contribute to RRSP, correct? He's 63 years old, and ...
0
votes
1answer
30 views

How to square a rising share price with the company diluting the value of its existing shares [duplicate]

Company A's share price in the market continues to rise while at the same time, the company keeps announcing that they are issuing new shares for multiple M&A transactions. How is this possible ? ...
0
votes
3answers
67 views

Do I need to calculate Alternative minimum tax?

I am a full-time employee at an organization. For the past two years, my financial case is incredibly straight forward. (1) For 2017 as well as 2018, I was single with no dependants. (2) I took the ...
0
votes
0answers
28 views

US Taxes Free Fillable Forms Error [duplicate]

I'm getting an obscure error using FreeFillableForms. The error does not appear to be on the standard table of X000-005 errors. Issue : Business Rule X0000-005 - The XML data has failed ...
3
votes
3answers
255 views

Do I need to report a critical health condition years after I signed-up for three insurance companies?

I need help with some simple questions related to insurances that I purchased. I hope that any insurance agent here can answer them, at least briefly. I have not been able to contact the insurance ...
4
votes
0answers
61 views

Sold wall map as fundraiser for a 501c3 non-profit. Need to report on tax returns? How?

In my spare time outside of my full time job, I produced a wall map for as a fundraiser for a 501c3-registered non-profit organization. I then sold the maps via FundRazr.com and money from sales was ...
3
votes
1answer
69 views

Schedule C vs. Schedule E for rental income

I own a few residential rental properties in the United States. I actively manage all of them, although this is not my full-time job. The properties are owned by an LLC of which I am the sole member. ...
72
votes
13answers
17k views

What (if any) is the reason to buy in small local stores?

Recently I have heard movements from the local stores (say clothes, electronics, foods, etc) and some politicians (of a particular wing) that argue that you should buy in local, small stores. ...
0
votes
2answers
93 views

How do I record my spouse's payment in shared credit card account?

I've created a credit card liability account. My spouse shares my credit card and makes several purchases on it as well. Each of us makes a payment directly against that account at the end of the ...
0
votes
1answer
46 views

What does “on non-bad debt and open balance accounts” mean here?

This sentence is from a policy of an organization I found on a leaflet. Can anybody please explain or paraphrase it for me? "on...debt" and "open balance accounts" are confusing me. "If the patient ...
0
votes
0answers
17 views

California depreciation options for Rental house landscape

I can use Bonus depreciation (100% for 2018) on my federal taxes for my rental house landscape project, or depreciate it over 15 years. What are my options for California taxes, since they don't do ...
2
votes
3answers
76 views

Why would an option's price not change with the underlying?

I saw a stock increase about 1.5% this week, but its June 2019 in the money option price didn't move. 'Last' has been the same for awhile, but I thought bid/ask (what my broker uses to decide the ...
2
votes
1answer
224 views

What state do I pay taxes to, if I'm nomadic?

Let's say I live in an RV and move camps every week or month, moving between states frequently. When tax time comes, which state do I pay?
0
votes
1answer
27 views

Medical expenses incurred during HSA and later filing

I have past medical expenses that I could not pay with HSA money since I ran out of HSA funds. That is, I maxed out what I could contribute for the year and used it for other medical expenses. I ...
1
vote
0answers
68 views

Now that I'm 59 1/2, should I pay off my HELOC by withdrawing from my IRA?

Maybe someone here can help me figure this out. I turned 59 1/2, and I have an IRA with about $500K. My wife has recently semi-retired and has started taking her social security, but I am still ...
0
votes
1answer
26 views

How can I calculate my cost basis for GENERAL MTRS CO WTS EXP 07/10/20?

About ten years ago The firm holding my money put some GM bonds into my investments. The records are gone and now the bonds are called: GENERAL MTRS CO WTS EXP 07/10/20.
0
votes
0answers
13 views

How do Rent Concessions affect the DC Renter Tax Credit?

I live in a rent-controlled apartment in Washington DC, and my landlord engages in a scheme to get around Washington DC’s rent control laws. How it works is that my nominal rent is $2000, but I get a ...
1
vote
1answer
41 views

Do scholarships and PhD stipends count as taxable compensation for Roth IRA limits?

The maximum amount you are allowed to contribute to a Roth IRA in a given year is either a certain dollar amount or your “taxable compensation”, whichever is lower. Now I am a PhD student who gets ...
1
vote
0answers
26 views

What were quarterly values of the MSCI “WMA Private Investor Income Index” (TR) for the last 5-6 years?

In the UK, the WMA indices are quite popular with "wealth management" types for benchmarking performance of clients' multi-asset portfolios. I'm interested in finding the historic values of the WMA ...
1
vote
3answers
150 views

What jobs to gain knowledge on finance? [on hold]

I don't have former experience or education on finance, but I want to find a job in finance so I can gain more knowledge about it to help secure the future financially. I have a strong background in ...
1
vote
0answers
42 views

How to calculate capital gain on gold coins in Canada?

In case of purchasing multiple gold coins (assume same kind of coin) on several occasions, for the purpose of capital gains tax calculation upon resale - does one have to calculate adjusted cost base ...

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