All Questions

Filter by
Sorted by
Tagged with
0
votes
2answers
106 views

What are my options for tax deductions if buying a house for my sister (complicated)

I am looking at buying a home for my sister to live in and I am trying to figure out if I can deduct any of the interest/payments. This is a pretty special case from what I can tell - I can't tell if ...
0
votes
2answers
4k views

Determining resident status for an H1B filling W-4 form

I arrived to US a month ago, on May 1st, because of a new work. I have been told by the company to fill W-4 form in. But, it seems that W-4 form must be filled in differently depending on my current ...
0
votes
1answer
4k views

W4 Two-Earners Worksheet Divide By Number of Pay Periods Remaining?

I'm trying to fill out a W4 for a new job, and am a little confused at the two-earners section (as I have been in the past). The very last step (line 9) says to divide the amount of withholding needed ...
0
votes
1answer
161 views

How do I apply for a mortgage after a cash closing on a property?

I have been working closely with a lender on the purchase of a home. What we ended up doing was making a cash offer on a property. What we now want to do is get a mortgage right after closing, as we ...
0
votes
2answers
115 views

How can I calculate how much an option would be worth after X days if the underlying stock changed by +/- $Y?

I don't really know how to anticipate the changes in an option's price. If I have an call set to expire the following Friday at $10 above the current share price, I know in the absence of other ...
0
votes
1answer
151 views

Taxes - Extra money at the end of the year

Background I run a small business and we have a fortune 500 company as one of our clients. This is great and all except that they push us around as far as finances are concerned. They always pay, but ...
0
votes
2answers
2k views

Income tax on my online drop-shipping business (India)

I am an Indian citizen and I run a semi-drop shipping business. The details are: I deposited 10 lakh through cheque/cash into my Indian savings bank account (PAN not submitted during account opening; ...
0
votes
3answers
151 views

Is it better to wait until one credit card shows up on my report before applying for any others?

How should you schedule applying for new credit cards if your goal is to not alarm prospective creditors while getting high initial credit limits? For example if approved for a new credit card should ...
0
votes
2answers
467 views

Can a buy market order be matched with a sell market order in Forex trading?

Should Market-orders be always matched with Limit-orders with best price on the opposite book? Or is there a case scenario where a Market-order could be matched with another Market-order? At which ...
0
votes
1answer
682 views

Missed to file Schedule B with 2016 Tax return for foreign bank account

I e-filed my 2016 tax return few days ago, but for my foreign accounts missed to file Schedule B (the tax software generated only 1040EZ). I have correctly reported the interest income of foreign ...
0
votes
2answers
529 views

Licensed and registered in Vanuatu, but not searchable

On the Topic Markets website we can find the following statement in the footer: LEGAL: Topic Markets Limited is licensed and registered in Vanuatu by the Vanuatu financial service commission under ...
0
votes
1answer
766 views

transferring money from India to USA [duplicate]

i saw multiple questions dealing with the topic. But they were bit old and i would like to ensure that there hasnt been any rule changes My parents are Indian citizens and they have bank account in ...
0
votes
1answer
276 views

Taxes paid in USA for sending money to parents in India

I am on H1B visa for 5+ years now. I wanted to send money to my parents in India which is about $50,000. Am I subjected to taxes in USA? My parents are citizens of India.
0
votes
1answer
206 views

USA, tax, business travel overseas, lodging / M&IE allowance system?

Say you are in the US. You are self-employed. During the year you have to travel to country X (say, Japan) for 20 days to see one of your clients. It is pure 100% business travel. For travel within ...
0
votes
3answers
296 views

What are the pros and cons of buying in cash and remortgaging vs taking a mortgage right from the start?

I was wondering what are the best options. Of course if depends so I would like to know what are the pros and cons of each solution. One obvious that came to mind - buying in cash allows to act at a ...
0
votes
4answers
1k views

How to sell a stock in a crashing market?

Every now and then the market undergoes a correction or a crash. During these events the value of stocks falls quickly. If I want to sell a stock I'll need a buyer. During crashes and corrections ...
0
votes
1answer
60 views

Looking for cheap international bank to bank transfer in USD [closed]

I would like to transfer money from US bank account to a foreign (Poland) USD bank account. So no currency exchange involved. It seems that most services assume the currency exchange. The sites of the ...
0
votes
1answer
102 views

Question about married couple filing jointly

When filing taxes jointly as a married couple, which of the following is accurate (or are none accurate)? Husband's total salary will be added to wife's salary Wife's total salary will be added to ...
0
votes
1answer
58 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
3answers
292 views

What to do with extra money when company doesn't offer 401k

I am looking for advice on what to do with some extra money I have. Currently, I have about $23k in my savings account, gradually increasing. I am (currently) employed, making good salary ($70k/yr), ...
0
votes
1answer
252 views

Assuming you really wanted funds in your 401k, doesn't paying interest in a loan accomplish that, even though it is post-tax funds

Although paying off a loan to your 401k most likely comes from post-tax sources, if you merely wanted to move more money into your 401k than would otherwise be possible, doesn't this accomplish that? ...
0
votes
1answer
109 views

Trade stocks in USA

What are the conditions for foreign citizens (and non-residents) to trade on American exchanges? I believe it's possible, but don't know the conditions...
0
votes
1answer
8k views

When does a mutual fund's “expense ratio” deducted? [duplicate]

In a mutual fund's prospectus, there is usually an annual "expense ratio", representing annual expenses of that fund as a percentage of the net asset. When/how does this get deducted? I'm curious how ...
0
votes
3answers
168 views

Process of 401k loan removal

I understand that me taking a 401k was not a good idea so please as much as I know people want to tell me that I already know. I made a mistake...and did take a 401k loan out of my current employer. ...
0
votes
2answers
177 views

Calculating Interest Accrued With an Uneven Interval

I'm trying to calculate the interest accrued on my amortization schedule manually. I can calculate it fine if payments are exactly one month apart but this payment is less than 1 month apart. Last ...
0
votes
1answer
132 views

Transferring personal debt from startup costs and operations to a corporation

For a long time, I've been a one person startup, and have just bundled all business costs - presenting at conferences/travel, office rent, hardware equipment purchases, etc., to my personal account. ...
0
votes
1answer
433 views

Can a transfer go through if the IBAN and SWIFT is correct, but the address and country of the bank is wrong?

A customer of mine wants to pay me from the usa to my account with N26 bank.N26 Bank is a German online bank with no branches but available to customers in the euro-zone.I opened my account online in ...
0
votes
1answer
6k views

Is there any law prohibiting the use of a home made check?

Are there any laws prohibiting the use of home made checks, or must I always use a bank created check. Is there a legal directive I can reference?
0
votes
1answer
983 views

When is credit card utilization calculated?

I'm confused on how and when credit card utilization is calculated for one's credit score. Is the credit card utilization percentage calculated based on the maximum balance you had in a given month? ...
0
votes
1answer
138 views

Can my employer adjust FICA contributions on payroll they have already processed?

After a sabbatical I joined my last employer as a person with resident tax status, married. Before my sabbatical I worked for them as a person of non-resident tax status, single. Since I forgot to ...
0
votes
3answers
275 views

Withholding for unexpected Short-Term Capital Gains and Penalties

Every year, when paying my taxes, I typically get a small amount back from the Feds, and usually pay "less than $400" to my state. However, within this 2016 year, I unexpectedly made a large amount ...
0
votes
0answers
45 views

Stock grant and taxes [duplicate]

As a retention incentive, I was granted stock (about $60,000) in my employers privately owned company. The stock grant went through payroll in December and had FICA taken out but no income tax. I ...
0
votes
1answer
1k views

USA: Foreign currency savings, trades and tax implications

I have a question on the tax implications on my foreign currency savings and currency trades. I moved to the USA in 2014 on an 3-year visa and am tax resident for part of the year. Following my move I ...
0
votes
1answer
522 views

Selling stocks as LIFO or FIFO

Hi all, I'm about to begin investing and was curious about how the IRS handles purchasing the same stock. Example: I purchase 50 shares of CS of NASDAQ:PODD on 1/1/2000 @ $50.00 I purchase 50 ...
0
votes
1answer
149 views

Safe and cheap way to send money from Canada to South America [closed]

Does anyone knows how to send money from Canada to a country in South America in a safe and cheap way? In the past I transfered from my bank account here in Canada to a South American bank account ...
0
votes
1answer
2k views

Difference between bank rate and prime rate

What is the difference between the bank rate and the prime rate? The prime rate is the rate at which banks lend each other money, but what is the bank rate?
0
votes
1answer
165 views

Can you sue for half of the equity and mortgage payments? [closed]

EDIT: Name is both mortgage and deeds. Im trying to remove a name from a mortgage, the other party is requesting a payout of a large sum of money. They never paid a penny to the mortgage, upkeep. ...
0
votes
1answer
347 views

US Double Taxation - Business Trips and the Foreign Tax Credit

My reputation is not strong enough to comment on some of the existing topics - please accept my apologies for a potentially mergable question(s). Assumption: The Foreign Income Exclusion (Form 2555) ...
0
votes
2answers
1k views

Remit money to India from balance transfer of credit card

I am a tax resident of USA and citizen of India. Lately, I have been receiving 0% interest balance transfer offers from credit card companies. The offer is - they will charge me 0% interest for 12 ...
0
votes
5answers
690 views

What would a stock be worth if dividends did not exist? [duplicate]

Let's say dividends don't exist, and will NEVER do, for all companies in the world. What would stocks then be worth? The stock could be valued according to the book value. Maybe more if the company ...
0
votes
1answer
490 views

Several cents difference in the actual and calculated “Withholding Tax” values

I have decided to check/calculate my salary in a spreadsheet. All the numbers align correctly, except the federal Withholding Tax. I have tried to use the Schedule 15, and Schedule 15A (Tax year ...
0
votes
1answer
50 views

Can I recharacterize my Roth since my income this year is foreign?

I moved abroad a couple years ago, but 2015 is the first year that I am claiming to be a bona fide foreign resident. I have been contributing to a Roth IRA for years. Filling out my return this year, ...
0
votes
1answer
101 views

Filling incorrect an incorrect 1040NR form

I'm currently an international student on F-1 status in the US. I recently filed my federal tax return through mail. As I owe taxes, I attached a money order to the mail as well. However, after I ...
0
votes
3answers
10k views

Credit score and paying my balance before the closing date?

If I pay my balance before the closing date, my balance goes to zero and that is what is reported to the bureaus. Given so, would that hardly affect credit? I want my credit to go up as fast as ...
0
votes
1answer
930 views

Calculating Exponential Moving Average

I looked up EMA on wikipedia, but I could not understand the explanation. Can anyone break it down with an example ?
0
votes
1answer
60 views

Wash Sales - Applied to Options

Does anyone know how to account for wash sale that attached based on purchasing options where the last transaction was the purchase of an option that expired worthless? The issue is that there is no ...
0
votes
0answers
68 views

Possible to file W-4P “retroactively” for annuity early withdrawal?

I made an early withdrawal of $25,000 from an annuity account [no surrender fees] and, at the time, it was my understanding (based on conversations with the financial rep) that the taxes would be ...
0
votes
1answer
154 views

Is it possible that for shares to be reinvested in a stock you already sold?

I just recently set my taxable investment account from reinvest dividends to deposit in cash. However, there seems to be a delay (I assume related to one of the various dates associated with dividends)...
0
votes
1answer
426 views

Calculating 2018 AMT from taxable income

US Alternative Minimum Tax: What would be the TMT on $500,000 of taxable income for "married filed jointly" ? Here is what I tried: This is still below the exemption phase-out threshold, so we can ...
0
votes
1answer
151 views

What is the “Taxable portion of a conversion” in a roth IRA?

From here, under "Treatment of Distributions". In particular, let's assume I have some funds in Traditional and Roth 401(k) and IRAs. Now, let's take a year when I make no income and I decide to ...

15 30 50 per page