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12
votes
0answers
501 views

What are the appropriate forms to file when using a mega-backdoor?

For the backdoor (IRA -> Roth IRA, generally up to $5500 per year) conversion, we need to file Form 8606. Are there any equivalent forms that must be filed for mega-backdoor (After-tax 401k -> Roth ...
10
votes
0answers
164 views

Verified by Visa - payment site is asking for social security number

I've wanted to pay a merchant in the European Union. We've done business with that merchant for over 10 years and they are absolutely trustworthy. They handle their online credit card payment service ...
8
votes
0answers
146 views

What recourse do I have when my COBRA insurance provider refuses to pay my claims? (Presently enrolled and paid in full)

My COBRA health insurance provider won't pay for my prescriptions using excuses like they can't find me in their system or my group number is wrong even though nothing has changed. I'm paid in full ...
8
votes
0answers
184 views

Credit Freeze for Minor Child

I was told that identity theft of a minor's credit is a very sought after goal for thieves. Is it true that credit agencies will offer lines of credit to individuals who are not yet 18? Is there any ...
8
votes
1answer
251 views

Can I find out who recently has been reporting very old addresses to my credit report?

My credit report at TransUnion includes, in the personal information section, both past addresses and the date each was reported/confirmed to the credit bureau. Several addresses are reported with ...
7
votes
0answers
158 views

Can I legally file zero tax return as non-resident to get ITIN?

I want to obtain an ITIN number to get a credit card / open bank account in the US. I know, IRS does not issue this number unless for tax reporting purposes. I visit the US from time to time on a ...
7
votes
0answers
221 views

Paying for nursing home care: What is the relationship between Medicare and owned property?

This question is prompted by a comment in a question I asked previously regarding the finances of aging parents (assets include a small savings and some property). I will summarize the comment as ...
7
votes
1answer
105 views

Will Poland tax my SIPP?

I am UK resident for tax purposes and have a SIPP. If I become resident in Poland for tax purposes then will Poland tax my SIPP? If so then in what way? My SIPP holds a single fund which does not pay ...
7
votes
3answers
1k views

Mega Backdoor Roth: Withdrawal consequences for in-plan vs out-of-plan conversion

My employer allows after-tax 401k contributions, and has an option for automatic quarterly after-tax 401k -> Roth 401k in-plan conversions. The other option for executing the mega backdoor Roth is to ...
7
votes
1answer
472 views

With the Fringe Benefits Tax, should I even salary sacrifice for a car?

In Australia, some employers offer an option to salary sacrifice a car purchase. The cost of the car is taken from your pre-tax salary, so your gross income will be less, and therefore, your income ...
6
votes
0answers
74 views

State Income tax when splitting a day between states (in the USA)

First of all, I realize that when traveling to another state for employment it is commonplace to owe taxes in that state for the work performed+sourced in that state. Example: you work/live in ...
6
votes
1answer
164 views

Is there a general way to prevent fraudulent bank accounts from being opened in your name in Canada?

In the wake of the Desjardins data leak, several of my friends have become aware of fraudulent bank accounts (not credit accounts or lines of credit, to the best of my understanding) being opened in ...
6
votes
1answer
101 views

Can I defer starting Medicare if 65 and on COBRA after a lay-off? (HSA, COBRA, and Medicare)

I turned 65 in February, am still working full-time, and have medical insurance through my company that qualifies me to defer signing up for Medicare. I've been contributing the maximum to my HSA ...
6
votes
1answer
398 views

Tax question - Inheritance from UK living in USA

I am a Green Card resident in Nebraska USA, and I am a UK citizen. Is it correct that I need to report to the USA Government if I inherit more than $10,000 from my father’s Will (he too was a UK ...
5
votes
1answer
85 views

Can my spouse and I both have HSA's at the same time if I am covered on his health insurance plan?

My husband has a HDHP through his employer which I am covered on, along with our 3 children. He has an HSA plan that he contributes to through his employer in the amount of $200 every two weeks or ...
5
votes
0answers
121 views

Used an incorrect SWIFT code for transfer. Will money return or still go through?

I made an international transfer from my bank in Italy to the U.S. The recipient account number and routing number were correct including the address, but I mistakenly used the SWIFT code of the U.S. ...
5
votes
0answers
132 views

Donating winning lottery ticket to 501(c)3 Private Foundation: cost-basis deduction + full tax free redemption for foundation?

US 501(c)3 Private Foundations are typically controlled by the primary donator, so that is a nice perk, but in exchange for that perk I realize the tax deductions for donating are significantly ...
5
votes
0answers
129 views

Euro rental income earned in Spain but can it be paid in Sterling in UK

I am a UK national with a property in Spain. The tenants of this property currently pay the monthly rental in Euros to my Spanish bank account but have asked if they can change this arrangement and ...
5
votes
0answers
60 views

County tax credits for living and working in different states

I moved mid-year to Indiana, from Illinois. My employer remains in IL. For the entire year, my employer withheld IL state taxes. For the second half of the year, my employer also withheld local (...
5
votes
0answers
110 views

Is there any reason I'd prefer having my school not report a 1098-T?

I didn't get a 1098-T from my school this year. I contacted them about it, and they said it wasn't required in my case, but they went ahead and issued it anyway since I asked. They also told me they ...
5
votes
2answers
302 views

Dual Citizen (US / CDN) wants to buy US equities in Canadian brokerage

I'm dual citizen (US & Canada) residing in Canada. I returned to Canada two years ago. I just started thinking about investing again in Canadian equities (either stocks, ETF's or mutual funds). ...
5
votes
0answers
149 views

Questions on retirement saving plans for non-resident aliens

I am a German citizen that started working as a postdoctoral researcher at a University in the U.S., being on a J1 visa. Part of my benefits package includes an employer match that I can make use of ...
5
votes
1answer
1k views

If PF is withdrawn by an NRI staying in USA does it become taxable as per US laws?

I have been service in an Indian company for 10 years and now getting transferred to US. I want to keep the PF and not withdraw as I don't need money and it will earn good 8.5% interest for next 3 ...
5
votes
0answers
150 views

Should rideshare drivers log mileage of individual trips, or is a daily entry acceptable?

A rideshare driver (Uber, Lyft) can deduct vehicle expenses for business use of the vehicle. Should the driver log each trip individually, or is a daily entry of beginning odometer, ending odometer, ...
5
votes
2answers
265 views

I trade labor for lot rent on my live-in R.V. Can I claim any income to apply for EITC? Do I owe taxes? There is no money exchanged

I work as a farm laborer in exchange for lot rent for my own Recreational Vehicle, electricity, and water on a friend's farm. There is no cash exchange. I am the one and only "lot renter". Will ...
4
votes
1answer
63 views

Employment travel expense tax deduction

I am currently located in Ontario, Canada. I work full time as a security guard and am required to regularly secure a client's building. According to the Canadian Revenue Agency link here, anyone ...
4
votes
0answers
159 views

Is there evidence that in the long-term, leveraged ETFs perform poorly?

I came across an interesting question: "Why are daily rebalanced inverse/leveraged ETFs bad for long term investing?" Despite the topic, the answers there actually illustrated the hypothetical risk ...
4
votes
1answer
90 views

Does a musician under an LLC have to file a foreign qualification for shows in other states?

Does a musical band or similar service under an LLC have to file for a foreign qualification in every state they play a show in/employ their service?
4
votes
0answers
160 views

Cashier checks purchased in the 80's at a bank that is now closed - the State Treasury Dept can't find them

My dad who is deceased purchased cashier checks in the 80's and the bank has since closed. I reached out to the States unclaimed property; they found several checks but there are a few left that they ...
4
votes
0answers
134 views

Why would a bank suddenly start using a very old address for me?

I stumbled upon an infographic that reminded me of something strange that happened to me several years ago, possibly related to banking, law, and credit reporting. Apologies if this is not the right ...
4
votes
1answer
130 views

Tax implications of dividend vs salary

I'm recently self employed. My accountant advised the total amount of tax I'll pay (combined business and personal) is the same whether I pay myself 100% dividend or 100% salary and the only deciding ...
4
votes
0answers
30 views

What, exactly, makes an “unrelated business” unrelated in the case of junior partnerships held inside IRAs?

My question is concerning the unrelated business income tax on partnership interests inside a Roth IRA. Specifically, I own common stock in a company that's technically classified as a Limited ...
4
votes
0answers
30 views

Can I list multiple wage income abbreviations on Free File Fillable Form 1040?

Background Wage income abbreviations are for taxable income not listed on a W-2. Two examples of these abbreviations are "HSH" and "SCH". Those two abbreviations are mentioned on pages 26 & 27 of ...
4
votes
0answers
145 views

Capital gains tax and HMRC. What is the definition of a lodger and is there a difference between a friend staying a few months and a lodger?

I have two friends living with me and they only pay bills (no rent) and I wondering if I would be liable for CGT on the period they live there? I don't take any rent from them at all and they are ...
4
votes
0answers
64 views

Does a French citizen living in the US owning stocks in a brokerage account in France have to pay taxes on dividends to the French tax authorities?

Does a French citizen living in the United States and owning stocks in a brokerage account located in France have to pay taxes on dividends to the French tax authorities (fisc)? Additional ...
4
votes
1answer
138 views

Write off accrued interest from interest income

My mother purchased a US government bond maturing 2019/04/15. The purchase date was 2018/04/13, so there were 2 interest payments attributed to 2018 (2018/04/15 and 2018/10/15), but the interest ...
4
votes
0answers
29 views

Can personal income information be provably shared in Estonia?

Is it possible for an Estonian citizen to produce a government-signed document stating their income as it appears on their tax return? Maybe an electronically signed tax return transcript could be ...
4
votes
0answers
79 views

When should I expect to see payroll details on ird.govt.nz?

My daughter had two jobs in the second half of last year. The first was a very dodgy outfit that extended her shifts without notice, wouldn't let her take her breaks, and, I suspect, hasn't paid any ...
4
votes
0answers
213 views

Why does Mastercard allow Santander (Germany) to issue a Maestro card with a revolving credit?

Maestro is a debit card product by Mastercard. So far I have only seen or heard of cards which are one of the following: Linked to a checking account at the same bank that issued the card Linked to ...
4
votes
0answers
134 views

IRA rolled over mistakenly to 401k

In a previous tax year I rolled over some money from a former employer's traditional IRA (TD Ameritrade) to a non-Roth 401k plan (Milliman). I didn't report this on my federal tax return at all ...
4
votes
0answers
125 views

Accrual accounting: how to implement prepaid tax

I am trying to put my personal finances in order and I figured that accrual accounting fits my needs for keeping a better track of my records. I am new to accrual accounting and while I think that I ...
4
votes
0answers
521 views

How do I fill in a W-8BEN for for sites such as Zazzle as an individual?

I have have some cash sitting (and growing) in a Zazzle.com account for a while. In order to have this cash paid to me as a U.K. citizen still living in the U.K., I need to submit a W-8BEN form. I ...
4
votes
0answers
85 views

Having worked overseas and accrued a pension, can I transfer it to my country of origin?

As a Brit who worked in South Africa for a few years and accrued a pension, now I've returned is it possible to transfer said pension tax-free to a UK pension provider (SIPP or otherwise)?
4
votes
1answer
150 views

Transferring funds to India from US

I am an Indian citizen ending my PG studies in US as I'm unable to return to the US after an overseas trip because of visa issues. I wish to transfer savings from my US bank account to a savings ...
4
votes
0answers
71 views

Does basis remain in Traditional IRA after a complete conversion?

If you convert your entire Traditional IRA to Roth IRA, but the amount you convert (the value of the Traditional IRA at the time you convert) is less than the basis (after-tax amount) in the ...
4
votes
0answers
350 views

Capital Gains Taxes for multi-year vest RSUs UK

Assume that you work for a company in the UK that grants you a number of RSUs to vest in a multi-year schedule (as per usual), for example, a vest event every 6 months for 2 years. The RSUs are valued ...
4
votes
0answers
300 views

How does one calculate their AMT MAGI to determine their passive activity loss limitation?

The instructions for line 19 (passive activities) of Form 6251 (Alternative Minimum Tax) mention that you may need to do an AMT version of Form 8582 (Passive Activity Loss Limitations): Refigure ...
4
votes
0answers
82 views

Understanding Nexus as a small business owner

I'm interested in becoming a 3rd party Amazon FBA (fulfilled by Amazon) seller. I recently learned about a rule called "nexus". Basically, I understand I have nexus (tax liability) in the state ...
4
votes
1answer
364 views

How to file 1040NR form as a non-resident alien owner of a U.S. LLC in Wyoming?

I'm an Egyptian citizen, living in Egypt and I own a LLC in Wyoming. I am the only owner of this LLC (single member managed LLC). I use this company to accept international payments through stripe.com ...
4
votes
0answers
76 views

Should I create a simultaneous Part-time Sole Proprietorship and Part-time single-member S-Corporation?

I am self-employed and my business has two distinct parts: Engineering and Design - which makes $50k income / year Manufacturing and Sales - which makes $150k income / year I am currently running ...

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