All Questions

5
votes
3answers
428 views

Is playing the lottery worth it in the same way that insurance is?

I was reading this question, and it made me wonder - If insurance is worth the expected loss because of the catastrophe that it could prevent, can playing the lottery be worth the expected loss ...
2
votes
2answers
66 views

Managing investments for multiple goals

I have been investing towards multiple goals, like Retirement, House, Car, Vacation etc. So I make monthly deposits against each of these goals. But I have a single fidelity account for investing, so ...
1
vote
5answers
239 views

Are cash contributions to my church tax deductible?

Last year I contributed to the offering in church every week. I have few questions regarding this. I am not that rich, so I contribute whatever cash I have in my wallet. Can I enter this amount on my ...
1
vote
0answers
34 views

Why is the cost basis reported by a broker on RSUs 0 USD?

I notice that E-Trade reports on the Form 1099-B that the cost basis for vested RSUs is 0 USD. Shouldn't the cost basis that report in my tax form be the value of the shares at the time of vesting? ...
3
votes
0answers
39 views

Can I deduct mileage if I'm a contractor who works at home and at an office?

I am a contractor and get a 1099. I perform some work at home, but much of my work is done at the office of the company I contracted with, and I drive to and from this office several times a week. ...
3
votes
1answer
35 views

Calculating annual pension contribution including defined benefit (UK)

I'm trying to understand how to calculate how much money I can pay into pensions this year. I understand how to calculate the annual allowance, which isn't the problem: instead, I need to understand ...
0
votes
1answer
92 views

I am missing one cent [duplicate]

What if I wrote 2 cheques for 151.53, therefore a total of 303.06$ will be due. and I have 303.05$ in the bank? Will one cheque bounce? Can I just change the decimal of one cheque to be 151.52 and ...
0
votes
0answers
20 views

How to claim motor vehicle expenses on taxes with incomplete information?

I am currently doing my sister's taxes, as stated in a previous post. She started working at this new job in May and her previous work was done at one single office location, hence she is not eligible ...
0
votes
3answers
220 views

Is this a scam?

My husband of 50 years has gotten sucked into a Chinese dating site. A woman(?) has 'fallen in love' with him and wants him to open an account at HSBC so she can start a 'fund' for him to give him ...
54
votes
11answers
16k views

Should I take out a loan for a friend to invest on my behalf?

A family friend of mine is an accountant and his company allows him to buy discount shares. He is asking me for $7000 to invest, and we will split the profits 50-50. I don't have $7000, but I can ...
2
votes
2answers
61 views

What does S1 and S2 mean with respect to quarterly reports?

Was looking through earnings reports on Bloomberg Terminal and noticed in addition to Q1 Q2 Q3 Q4 and annual reports, there are also S1 and S2 reports. They seem to be semi-annual but what exactly are ...
0
votes
1answer
17 views

Real example for PWA application complete payment transaction offline

The new standard PWA provides ability for eCommerce websites to work offline. In theory this also includes the checkout part that complete the purchase by paying. But, can someone let me know about ...
-1
votes
2answers
124 views

Do most credit cards allow a positive balance?

I have a Visa credit card, issued by a German bank. The card allows me to carry a positive balance and even pays a small interest on it (called Visa Sparen -- Visa Saving). I find this convenient, ...
1
vote
1answer
35 views

How do I find the lost opportunity of not investing an amount considering a certain inflation percent

I am doing a course on Personal Finance & Investment. In the chapter of about impact of not investing, one of the questions in a quiz is to calculate the effect of inflation on a sum of money not ...
2
votes
1answer
137 views

How should I calculate how much my money is _grown_?

I invest in multiple streams - equities, mutual funds, bank deposits etc. Depending on the asset class, my rate of return is different, naturally. Some asset classes generate higher ROI (with higher ...
3
votes
2answers
138 views

Why is it mandatory to depreciate a rental property?

I don't understand why an investor is forced to depreciate a rental property. In many cases (say for an investor with one rental unit only) the depreciation amount is less than the standard deduction ...
1
vote
3answers
115 views

Do I need to open a credit card to improve my average credit score?

I recently checked my credit reports and score and found out I had a score in the high 630's - this was a shock as I had checked this a couple of years ago and my score was in the high 730's I ...
4
votes
0answers
348 views
+50

My girlfriend has lived with me the entire year of 2018, with no job. Does she need to file a State tax return?

I work in a contracting company, so I sometimes have to move and work every few months. I have been in NC, then IL, and now in AZ. My girlfriend lives with me, and she is a full-time student (since ...
0
votes
0answers
17 views

What are the upsides and downsides of doing an HSA rollover contribution vs. an HSA trustee-to-trustee transfer in the United States?

In the United States, what are the upsides and downsides of doing an HSA rollover contribution vs. an HSA trustee-to-trustee transfer? I am aware that: one cannot do more than one HSA Rollover ...
1
vote
1answer
60 views

Is there a minimum age requirement for trading options?

On interactive brokers I was filling out an application to open a cash account, but I did not see the option to choose options as a product I can trade. Is there a minimum age requirement or is it due ...
0
votes
1answer
49 views

Should I pay off my home mortgage due to TCJA cutting SALT deductions?

Definition Under prior law, in addition to being allowed to deduct 100% of state and local income (or sales) taxes, homeowners could deduct 100% of their state and local personal property taxes. ...
0
votes
1answer
30 views

Illinois Property Taxes and Schedule E Expenses

(Assume) I rented out my condo in Illinois from Jan 1, 2018 to December 2018. In Illinois, property taxes are paid in arrears, so during 2018 I paid my 2017 property tax bill, and I haven't yet paid ...
0
votes
1answer
46 views

What are some good investment options for a foreigner in France who doesn't have a permanent residence permit or a French citizenship? [closed]

I'm a non EU citizen living in France, with a work permit valid until December 2021. I don't have permanent residence permit yet, but will apply for it soon with a year or two. So I was wondering what ...
1
vote
0answers
19 views

Is it just for the CRA to charge interest on a notice of collection dated one month ago, but that they never mailed?

My dad is old, computer-illiterate, and needs a wheelchair. On Feb. 20 2019, he received by mail the CRA's Notice of collection that "calculated additional arrears interest of $30" on "your notice of ...
49
votes
7answers
13k views

Can one live in the U.S. and not use a credit card?

The title may not be very accurate. I'm European (Italian) so I don't have a very clear idea of how it works in U.S. My understanding (correct me if I'm wrong) is that the economy there incentivises ...
-3
votes
0answers
58 views

What is the current price to buy a wheat contract (chicago) approximate is fine [closed]

Thats it. I'm wanting to take out a commodity contract and simply need to know.
0
votes
2answers
68 views

What is the purpose of an RSU Tax Offset?

I'm reviewing the year to date figures on my last paycheck stub for 2018. There's this entry for RSU Tax Offset I'm trying to discern here. I can trace it back as a line item of a check stub 6 months ...
1
vote
1answer
41 views

Non resident alien in US, changed status from F2 to F1, can he claim tax treaty benefit?

One of my friend first entered to US from Bangladesh on August 2017 in F2 status and here is the tax treaty between US and Bangladesh He was in F2 status in US part year from Jan 01 to May 28, 2018 (...
0
votes
1answer
48 views

Online Investing and Trading Cryptocurrencies, Equities and Options in U.S. Markets [closed]

Would you be so kind and tell me which brokerage services might have fastest website and features (e.g., "limit orders", "stop limit orders", etc.) for trading cryptocurrencies (e.g., from BTC to DOGE)...
2
votes
1answer
85 views

Is my sister entitled to a refund for IRS over-withholding? If so, how does she get the refund?

My sister has a taxable brokerage account with Interactive Brokers and invested in GE stocks (which collapsed, resulting in a massive capital loss written off on Line 132 of Schedule 3 on her T1 ...
0
votes
0answers
19 views

Living in New Zealand, working remotely for an Australian company - taxes go where?

I am a British citizen, currently residing in New Zealand under a 5 year Work Visa and for the past year have been working for a New Zealand based company. I am just about to change jobs to work ...
1
vote
1answer
33 views

Withdraw money from Canada Pension Plan (CPP) or Govt Pension by an Indian Citizen

I am an Indian and working at Toronto for last ~4 years with long term Work Permit. ( I am NOT a PR holder). My company is deducting ~300 CAD per month from my salary under 'GOVT PEN'. I came to know ...
0
votes
2answers
62 views

Mutual Fund or Municipal Bond

I am new to this Bond's so, I am not sure which one is a good investment like state or federal bonds? Is it worth to Invest now?
1
vote
1answer
105 views

Robinhood does not provide all information necessary to fill out 1099

This year I invested money in stocks for the first time. I didn't sell anything though I received $0.26 of dividends. Robinhood sent me a consolidated 1099 which contains information about the ...
2
votes
3answers
504 views

How do property taxes on school district bonds work?

If my school district says it wants to extend an existing bond and not increase the tax rate and the assessed value of my home never increases/decreases(hypothetical), will my taxes stay the same? If ...
8
votes
4answers
3k views

Should I file my taxes? No income, unemployed, but paid 2k in student loan interest

This question is hypothetical. I was unemployed for the entire year of 2018 and had no income. I lived with a parent and had enough savings from a previous job to pay for myself and make all of my ...
1
vote
2answers
62 views

How are FSAs handled when you change jobs?

For my 2019 benefits from my company I enrolled for $1000 in an FSA account. So as of Jan 1 I have $1000 available to spend, but in late Feb. I changed jobs and I have one more check being issued to ...
1
vote
1answer
55 views

UK tax residency - how is it checked?

I am just reading RDR3 Statutory Residence Test document from HM Revenue & Customs. It says that you have to be in the UK at midnight in order for the day to be counted as the UK taxing day. I ...
1
vote
1answer
32 views

Will Receive K-1 from Trust: Roth IRA

I apologize if this question is not warrant asking. Though I was wondering if taxable income earned by the trust distributed on the K-1 form would qualify me as the trustee to contribute to a Roth IRA....
1
vote
2answers
42 views

How are RSU stocks taxed?

I am confused how RSU stocks are taxed. When RSUs vest, some of them are sold (sell to cover). Is this equivalent to tax withheld on your paycheck? The RSU is kind of considered part of my pay and ...
1
vote
1answer
31 views

Schedule D, what flow to follow if you have no long term transactions but only short term gain?

The instruction for Schedule D form seems a bit ambiguous. On line 17 it says, If both line 15(total long term) and line 16(total long term + short term) are gains, go to line 18(which makes you do ...
2
votes
2answers
61 views

What should a medical receipt contain to be IRS-approved for an HSA withdrawal in the United States?

In the United States, one must keep records of all one's medical expenses processed through one's HSA in case of an IRA audit. What should a medical receipt contain to be IRS-approved? I'm assuming it ...
2
votes
1answer
88 views

are there tax consequences for transferring a family member's high interest debt to my 0% interest balance transfer card

I am considering Citibank balance transfer credit card for myself (with a 0% balance transfer offer)and wish to help a family member who has high interest debt and want to transfer their balance to ...
0
votes
0answers
71 views

How else can the Canadian government know how much money Canadians have?

My distrust of government is swelling, in light of the SNC-Lavelin scandal. Fortunately, the Statistics Canada paused its plan to obtain banking records. I know that travellers must declare money ...
4
votes
3answers
153 views

How to balance saving for retirement with saving for a house?

Situation: Married w/ kids, 29, about to finish grad school, no debt. Accepted a job offer with $87k salary and an employer contribution to an SEP-IRA equal to $13k/year. No additional household ...
1
vote
0answers
22 views

Is it required to keep a Form W-8BEN when paying a foreign contractor?

Bob is a French citizen is a tax resident and permanent resident of the United States. Alice is not a U.S. person and works only outside the U.S. If Bob pays Alice for some work she performed, is it ...
4
votes
1answer
142 views

How to properly compare pension vs Roth IRA?

I am trying to compare the benefits of a federal pensions system FERS vs simply investing the money myself with a Roth IRA. I'm assuming that I work in a federal job for several years, but retire ...
1
vote
3answers
323 views

How can a $10M deduction be worth $4-5M to a wealthy taxpayer?

I have a question about an answer that I read on Reddit's r/eli5 (Explain like I'm five) subreddit. The question was "How do rich people use tax donations as write-offs to save money? Wouldn't it be ...
0
votes
0answers
63 views

Is currency trading legal in US? [migrated]

am trying to open a business where client can trade their currency to me. Example if client have money in their paypal, they can send it to me, then i will give the the equivalent in their local ...
1
vote
1answer
49 views

In the US, is cancer medication (for a parent living in South America), tax-deductible?

The cancer medication of my parent costs 10,000 USD a month. I would like to pay for this, but I wouldn't have enough money to live off of myself. I was wondering, would the expense would be tax ...

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