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11 votes
1 answer
746 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 ...
Zaenille's user avatar
  • 4,334
9 votes
3 answers
2k 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 ...
Jimothy's user avatar
  • 121
8 votes
1 answer
414 views

Does Canada respect the tax-free status of National Savings certificates for residents who left the UK?

I know Canada and the UK have a tax treaty that is designed to prevent double-taxation. But I don't know if it extends to honouring the tax-free status of government-issued savings certificates. ...
Bill's user avatar
  • 181
8 votes
1 answer
226 views

Implications of brexit for UK-EU personal purchases and sales

Until December 2020, I was happily in a customs union with a lot of other countries. If I needed to buy a hard disk for my computer, it was often cheaper (including shipping) or more likely available ...
Stilez's user avatar
  • 2,596
8 votes
1 answer
8k views

Tax treatment of dividends paid on short positions

If a retail investor holds a short position when the stock goes ex-div, they must therefore pay a dividend to the buyer of the short. What is the tax treatment for this dividend payment the investor ...
SMeznaric's user avatar
  • 798
6 votes
1 answer
592 views

Automatically combine transfers between my own accounts

I am using Gnucash for personal use, as a new user, and whilst I have managed to arrange my accounts as I wish I have an issue with importing my bank transaction data. With my bank I have a set up ...
user3353819's user avatar
6 votes
1 answer
229 views

How do I calculate Private Residence Relief for a house I've sold where there was a loss, not a gain?

This question is likely specific to UK rules. I've sold a flat which I lived in for part of the time I owned it. I'm trying to fill out the Inland Revenue's 'report my Capital Gains Tax' form. I've ...
J. Penguin's user avatar
6 votes
1 answer
270 views

529 distribution pro-rata with multiple accounts

With multiple Roth IRA accounts, distribution ordering rules treat all accounts as one. Does this rule generally also apply to 529 accounts? That is, if I am the owner on multiple 529 accounts, are ...
arcyqwerty's user avatar
  • 1,271
6 votes
0 answers
859 views

What is my cost basis for a stock I received when my insurance policy was demutualized?

Background: My brother and I are co-beneficiaries of a trust that held an insurance policy with The Principal Financial Group, which Demutualized on October 26, 2001. At which time the trust was ...
JohnFx's user avatar
  • 53.1k
6 votes
0 answers
1k views

Starting a trust fund in an EU country

I'm in a sudden and unfortunate need of starting a trust fund (money being the only asset) in an EU country (I'm afraid I need to rule out UK as an option) for a minor (not a relative of mine) that ...
tmt's user avatar
  • 61
6 votes
1 answer
5k views

Can closing a covered call and opening a new covered call trigger a wash sale?

In Jan 2019, I bought 200 QQQ (ETF) at about $160 and also wrote two covered calls for June 2019 at 170 (higher than the last day price) netting a small premium. Now QQQ is at about 185 so it will be ...
riya's user avatar
  • 1,245
6 votes
1 answer
203 views

I'm still working but my payments are deferred due to Covid19. Do I qualify for unemployment insurance benefits?

I'm self-employed in California and my biggest client (>90% of my billable hours) is not able to pay due to cash flow disruptions related to Covid19. I've agreed to continue working and billing as ...
Bingo's user avatar
  • 61
5 votes
0 answers
141 views

What counts as different sources of income?

I'm a freelance writer (in US), but I also do some freelance video editing, programming, and virtual assistance along the side. I'm wondering if each of this counts as a "separate source of ...
No Name's user avatar
  • 331
5 votes
1 answer
1k views

What happens to SIVB put option holders?

As title implies - I own put options (Strike Price $125, exp. March 17 2023). I am wondering what happens to other owners of put options. As we all know now, SIVB is in receivership. I do not own ...
Nick's user avatar
  • 51
5 votes
0 answers
88 views

Social Security, expat, and small side business

I plan to retire soon. I am an American and I expect to get about half my retirement income from Social Security. I have not reached full retirement age. (I'll be 63.) I own a tiny side business that ...
Jay's user avatar
  • 22.8k
5 votes
0 answers
93 views

Do foreign debts require special treatment in a bankruptcy petition?

I have foreign debts, and I'm aware that while they cannot be discharged in the USA where I am filing, they still need to be declared. My question is simply if they should be included with the ...
J Friedman's user avatar
5 votes
0 answers
154 views

I just mailed my 2020 federal tax return with my NRA spouse's SSN left blank. What outcome should I expect & what course of action should I take?

I am a US citizen living in the UK with my British husband. I file my taxes as married filing separately and my husband is not required to file with the US so has no SSN or TIN. I sealed up and mailed ...
button007's user avatar
5 votes
0 answers
92 views

For 2021, What is the most Tax-Advantageous Way to Make a Charitable Donation that is Larger than my AGI?

I may be making a charitable donation this year (2021) to my school; it will be about 1.5 times my AGI. What is the most tax-advantageous way to make this donation? If I make the donation in stock ...
ab2's user avatar
  • 1,900
5 votes
0 answers
2k views

GME counterfeit shares?

There's an article which claims that short sellers + brokers + DTCC sometimes manufactures counterfeit shares through legal and less-than-legal means to attack vulnerable companies and profit from ...
Lawnmower Man's user avatar
5 votes
0 answers
103 views

What taxes does an Eritrean-American-Canadian citizen Canadian resident pay first?

I am a Canadian born to an American-born Canadian father and an Eritrean mother. We live in Canada, where I was born. I am a citizen of all three countries mentioned. Because of insane laws, I am ...
rashpinducknam's user avatar
5 votes
0 answers
246 views

Can I set GnuCash to denominate everything in a security (Bitcoin)?

I have all my personal finances in GnuCash. EUR is now my main currency. The menus allow me to set the main "currency" to, naturally, currencies. I have bitcoin as a security. Can I set my ...
Marnix's user avatar
  • 51
5 votes
0 answers
95 views

I'm a Canadian citizen and now a US resident. How do I close my Canadian RRSP and TFSA?

I am a Canadian citizen who moved to the US in 2009. I am now a US resident and Canadian non-resident. I still have a Canadian RRSP, TFSA, and bank account. I've filed FBARs since becoming a US ...
Canuck's user avatar
  • 51
5 votes
0 answers
73 views

Is preschool closure (due to the pandemic) a qualifying event for Dependent Care FSA?

I'm trying to figure out of closure of my daughter's preschool meets the qualifying event criteria so that I can reduce my dependent care FSA contributions. I've read a few places online that change ...
jwmn's user avatar
  • 233
5 votes
0 answers
819 views

Is there non taxable investment account (like UK ISA) equivalent in Switzerland? How does one make tax-efficient Swiss investments?

While we were living in the UK, we were using our extra money to invest in index funds via ISA accounts. On these specific accounts, you do not pay Captial Gain Tax and they are excellent for long ...
Matas Vaitkevicius's user avatar
5 votes
0 answers
73 views

Using an estate agent's solicitor

I know using a mortgage advisor connected with an estate agent is a bad thing to do. It reveals to them how much money you have and means you risk paying more. However, I've now reached a state where ...
the other one's user avatar
5 votes
0 answers
4k 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 ...
CQM's user avatar
  • 20.2k
5 votes
0 answers
175 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 ...
baillieman2's user avatar
5 votes
0 answers
79 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 (...
FenTheta's user avatar
  • 277
5 votes
0 answers
140 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 ...
argentum2f's user avatar
5 votes
0 answers
4k views

NY State Sales Tax on Lease Transfer

I am hopeful that someone can help me understand New York State (NYS) Sales Tax with regards to a lease take over, in what seems to be paying tax twice. So here is the scenario: Person A leases a ...
NotInControl's user avatar
5 votes
1 answer
456 views

US stock market: How do odd lot orders get filled if they are not advertised to the public?

I recently asked Why didn't my buy limit order become the highest bid? when my odd lot (1 share) buy limit order did not appear in the public list of bids. If odd lot buy orders do not appear in ...
Flux's user avatar
  • 17.1k
5 votes
1 answer
378 views

State income tax : full resident, spouse part-year resident: joint return possible?

In 2018 I was a resident of New Jersey the whole year, but my spouse was a part-year resident: he permanently moved to Germany on August 1st and established his domicile there. After that date, he ...
Seub's user avatar
  • 151
5 votes
1 answer
388 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 ...
user2213307's user avatar
4 votes
0 answers
2k views

I know it's a scam, but what is it?

From time to time I receive a message on Twitter like the following: tavis Login URL...eth0033.c o m login name...Adam1986 password...1986Adam assets≈41BTC Help me transfer 0.7btc to your brother ...
SQB's user avatar
  • 895
4 votes
0 answers
101 views

Does someone going to college in another state need to file Virginia Taxes?

Our son (19) goes to college in MA while we live in VA. This year for the first time we did not include him as a dependent in our 1040. During 2022 he had an internship & research ...
ironv's user avatar
  • 151
4 votes
1 answer
319 views

How to report losses on Treasury Bill sales?

I have an account at Fidelity. Last year I sold some Treasury Bills before they matured. Some of the sales were gains and others were losses. When I got my Fidelity tax package, it showed the gains as ...
sam's user avatar
  • 141
4 votes
0 answers
97 views

Consequences of small bank debt in EU as citizen of another country

I have a bank account in France that I created when I lived there about 10-8 years ago. A year ago this account started charging a monthly fee that didn't exist before, and then I started trying to ...
gsmafra's user avatar
  • 141
4 votes
0 answers
104 views

What resources exist to measure a company's integrity?

I have been on a search for companies with integrity. I have seen the (MSCI) ESG rating which is good, but I'm looking for indicators of integrity in a company separate from environmental factors. I ...
Ashitakalax's user avatar
4 votes
0 answers
139 views

How can I bet against a particular stock in relation to the market?

I’ve heard people doing spread trades when they think one stock will do better/worse in comparison to another stock or index. I’m looking for details on exactly how this is done. Is there a particular ...
philfreo's user avatar
  • 141
4 votes
0 answers
111 views

Hostile takeover bid to turn company private - how does it work (current context: Musk / Twitter)?

With regard to the current coverage of Musk announcing his wish to turn Twitter into a private company, I'd appreciate some clarification: Twitter stock, according to Yahoo Finance, is owned by ...
Zubo's user avatar
  • 487
4 votes
1 answer
159 views

When does a self-employed tax payer have to make quarterly tax payment? (Safe harbor rule)

My question is about when does a self-employed tax payer have to make quarterly tax payments. I understand that there is a safe harbor rule that says if you owed less than $1000 in taxes then you do ...
Bob's user avatar
  • 1,673
4 votes
0 answers
225 views

Pre-qualification screening for apartment rentals on apps like Zumper. How honest should I be?

I'm looking to move from one - expensive - rental apartment to another, similar priced. Now my circumstances are that I am semi-retired, starting a business and with more than enough money in the bank ...
Italian Philosophers 4 Monica's user avatar
4 votes
0 answers
86 views

How is long-term vs short-term capital gains calculated for USA resident aliens?

Let's say I am a foreigner who bought $1,000,000 worth of Microsoft in 2010. I have just arrived in the USA on May/01/2021 and after 6 months pass the substantial presence test and qualify as a ...
AlanSTACK's user avatar
  • 1,570
4 votes
0 answers
68 views

Does the distribution of a dynasty trust count as income for purposes of chapter 7 bankruptcy?

Assume a person is one of the beneficiaries of a dynasty trust fund. The dynasty trust is irrevocable and perpetual, set in a US state that allows perpetual trusts. Annual distribution of the trust to ...
Mindwin Remember Monica's user avatar
4 votes
0 answers
38 views

West Virginia Taxpayer aged 61 with IRA distribution from Puerto Rico

I am a permanent resident of West Virginia age 61 unemployed and receiving health and food assistance from the State...thankfully. I have very limited investment income, not enough to pay taxes of ...
Jay's user avatar
  • 41
4 votes
0 answers
517 views

UK-US stock transfers

I live in the United States and work for a local office of a UK company (traded on the London Stock Exchange). My employer has an ESPP administered by a company called "Equiniti". I wish ...
User1234's user avatar
4 votes
0 answers
202 views

Live market data confusion

I have been exploring different data packages for a while and I learned that simply level 2 means top of the book (best bid/offer) for a specific exchange. In order to see other “worse” bids and ...
miran80's user avatar
  • 189
4 votes
0 answers
250 views

What eventually happens when my Medicare premium is MORE than my Social Security benefit?

Most of my working life was not subject to Social Security taxes (yes, this can happen legitimately in the US), therefore my Social Security benefit is very modest. My Medicare premium is withheld ...
ab2's user avatar
  • 1,900
4 votes
0 answers
113 views

Prepaid funeral expenses 15 years ago, with 3.6% interest, should estate get some money back?

My wife and I are executors of the estate of a recently deceased neighbor with no family. She had very little. She had prepaid for her funeral, which of course was very small during the current ...
Brian B's user avatar
  • 199
4 votes
0 answers
57 views

When is the latest that I can move out of the US to qualify for FEIE based on physical presence test

As I understand it, to qualify for the physical presence test, the last date that you can use is the date you file your tax return. So suppose that I will file my tax returns on April 1st 2022. Does ...
Bear Bile Farming is Torture's user avatar

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