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1 answer
45 views

Cross border gifting (US and Canada)

I wanted to know what's the tax implication if I am a US citizen gifting money to someone in Canada who is neither a Canadian nor a US citizen. Does the gift tax applies? Share your resources please. ...
  • 1
7 votes
7 answers
4k views

When is it worth taking out a loan for something I could pay in cash?

I'm trying to better understand the time-value of money and how to compare interest rates vs. investment returns. In general, if I can pay for something in cash or short-term credit (paid off monthly),...
  • 287
0 votes
2 answers
97 views

Huge volume but stable price? What does that mean?

I saw a stock which had a 730% vs average stock volume one day, so I assume that means lots of people are buying it and demand is high? But at the same time, the price only went back and forth 0.2 $ (...
-2 votes
1 answer
138 views

Is an OTC code a legitimate code for a transfer from the UK to here in the USA? [duplicate]

I tried to make an international transfer from the UK to here in the USA and was stopped halfway through the process and asked for an OTC code. Is this a legitimate code?
1 vote
1 answer
36 views

Possible incorrect tax exemption on form 1042-s? Where to show 1042-s interest income on 1040?

I have interest income on 1042-s, but was exempt from tax. My Box 3a is "02" and 4a is "15". "02" refers to - exempt under IRC (code should only be used if no other ...
0 votes
1 answer
108 views

Need help in calculating interest on daily savings account

Preamble I would like to open a savings account in one of "Big 5" banks in Canada. Many banks are offering so called "daily savings" accounts. My calculation Not to name any names, ...
-2 votes
1 answer
101 views

How does a beneficiary receive benefits if an FDIC insured bank goes bankrupt?

I have three questions: Generally, in the US, can a beneficiary receive the inherited benefits for a certificate of deposits (CD) in a single bank if an account holder (single) who purchased the CDs ...
-2 votes
0 answers
65 views

Is it unprofessional to ask for a laptop loan that i will use for work [migrated]

I was considering to ask from my boss for 2 years even though he wasn't offering it. He outsourced his Customer Service to our country and he was nice all the time however with very few benefits, and ...
  • 1
17 votes
5 answers
8k views

I have to pay back my student loan. When is the best time to do it?

Today, I received the news that my "Payback phase" for my student loan has begun. I was afraid this day would come soon, but it came quicker than I anticipated. However, I got the news that ...
0 votes
1 answer
72 views

Import HR Block tax pdf into Turbotax (fails, error)

I try to import 2020 HR Block tax pdf file into 2021 Turbotax(*). I get the error message "This import was unsuccessful" "No problem - we'll help you enter the information and continue ...
0 votes
1 answer
90 views

Is it possible to hold stock certificates directly without any counterparty risk whatsoever?

I would like to invest in stocks of various companies, however I am deeply concerned with the counter-party risk that the institution which holds the assets on my behalf carries (e.g., a bank or a ...
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0 votes
1 answer
31 views

Non-medical HSA withdrawal and a subsequent HSA deposit for previous year tax reduction

The U.S. Health Savings accounts allow for a withdrawal for any purpose, but when used for something else than approved medical expenses, the withdrawal is subjected to taxes and a 20% penalty. ...
  • 321
0 votes
1 answer
45 views

IRS Notice LTR 105 C Disallowed claim

I paper filed an amendment for my 2020 tax return which was processed with Single status. Because unavailability of ITIN, I could not include my spouse in the 2020 tax filing. ITIN for a spouse was ...
  • 115
2 votes
1 answer
140 views

Is it a good idea to spread investments over multiple stockbrokers?

In the UK, I believe stock brokers are required to use nominee accounts to hold shares on behalf of individual investors, so that if the stock broker were to collapse the investments themselves are ...
  • 121
5 votes
2 answers
707 views

What does "investing in credit" mean?

I have seen saying such as "invest in credit/be long credit", what does it actually mean? For example, I can buy high yield etf which is essentially a basket of low rated corporate bonds. ...
  • 323
1 vote
2 answers
53 views

Additional principal payment split between interest and principal [duplicate]

I made an additional payment with my first mortgage payment but I noticed that although I designated the additional payment, say $10, as principal the remaining principal balance didn't go down by the ...
-4 votes
2 answers
179 views

Why aren't Treasury bill auction reopenings marked as reopenings on the Treasury Auction Schedule?

Let's consider on the 13-week bill whose auction date is Monday, March 13, 2023 on Treasury Tentative Auction Schedule. It's not marked as a reopening on the Treasury Tentative Auction Schedule (no R ...
12 votes
1 answer
2k views

GE historic stock price on DOD changed

My father owned GE stock and he died in November. In late November, for my appointment with the probate court, I looked up the closing stock price for the day he died. Unfortunately I downloaded the ...
-6 votes
1 answer
101 views

What part of the auction process for U.S. Treasuries makes it impossible to enroll in the auto-rollover feature after the initial order entry?

When trying to activate auto-rollover for an already purchased Treasury security on Schwab, I get the message: This security is ineligible for auto-rollover. Due to the nature of the auction process ...
1 vote
2 answers
35 views

Withholding as single and filing as married jointly: question after W4 changed?

My wife and I went to a tax return preparation agency to do our 2022 taxes. This was the first time we were married for a full tax year. We're in the USA. We owed a very large amount, and the tax ...
  • 111
9 votes
1 answer
2k views

How to deduct a loss from an investment that went bankrupt?

We had money in a BlockFi account, which went bankrupt at the end of 2022. How can we deduct that loss on our 2022 tax return?
1 vote
2 answers
84 views

Should I claim medical expense before insurance made final determination?

A family member has had a surgery at the end of last year. So far the insurance claim has been rejected because the doctor did not report it properly. I have no idea when that will be resolved and ...
1 vote
2 answers
237 views

Where do interest payments go?

I understand that in many countries the base interest rates is set by a central bank. They do this by changing the amount they charge for overnight loans to the large banks to cover transfers. But ...
  • 111
1 vote
1 answer
48 views

Are assets held under brokerage at risk of a bank's bankruptcy proceedings?

I know that the FDIC guarantees cash deposits up to a maximum of 250K, but what happens to assets held in a bank's brokerage arm? For instance, if someone has 10,000 shares of MSFT deposited in a bank ...
  • 1,050
0 votes
1 answer
29 views

Investing in one single global index fund or seperate S&P500 and global Ex-US funds

I am looking to begin passive investing in ETFs. In my own research so far I come across the advice that it can be a good passive strategy to invest in some index fund like a Vanguards S&P500, ...
  • 101
0 votes
0 answers
115 views

How do wealthy folks protect heaps of money, specifically relating to bank collapse [duplicate]

Given the recent Silicon Valley Bank issues, what do the wealthy do to protect their fortune? If you have it sitting in a bank, it's vulnerable if the bank is poorly managed. The stock market seems ...
  • 275
1 vote
1 answer
23 views

US inheritance tax on Irish index fund held by non-US resident via US broker?

I am a non-US resident who has an account with a US-based broker. I have invested in an Irish-based index fund that tracks the S&P 500. I'm concerned about my children having to pay inheritance ...
0 votes
0 answers
49 views

Dr. office moved my payments around and now double billing me?

I had to pre-pay for treatment until insurance kicked in; insurance totally messed up all the claims and paid where they should not have which made doctors billing dept. move my payment to other ...
-3 votes
3 answers
185 views

Why is YTW (Yield-to-Worst) not available for some callable bonds?

E.g., I am looking at 67765QDG8 ("Oh St Wtr Dev Auth REV 5% 06/01/2023") on Schwab. It is callable but the yield to worse isn't indicated: Bond details: https://i.stack.imgur.com/GNt20.jpg (...
28 votes
5 answers
7k views

Can a 13-year-old in the UK accept freelance work?

I am 13 years old and I live in the UK. I love coding and creating websites, so I thought I would turn it into a kind of business. I am thinking of starting as a sole trader and doing bits of work for ...
1 vote
1 answer
57 views

Can I receive APTC if I am on F1?

Last year I used the marketplace (healthcare.gov) to get health insurance for myself (F1) and my dependents (F2). Based on the information and documents I provided, they found me eligible and gave my ...
5 votes
1 answer
90 views

Unmarried couple, DCFSA without claiming the child?

We are an unmarried couple with a young toddler living in an extended household - filing separate tax returns. The child can qualify as a dependent for either of us since we both live with him ...
0 votes
1 answer
74 views

What are alternatives to cash deposits, if you need short term liquidity above the FDIC insured limit? [duplicate]

Could you, for example, invest everyting into Bonds or ETFs? Are they safe in case the bank goes bankrupt? Are they liquid enough? What is the timeframe to convert these alternatives to cash? Minutes, ...
0 votes
2 answers
192 views

Invest on etf when you are young

I started to work a year ago and I'm putting all my savings in one ETF (SCHD), to have a lot of dividends when I'll turn 60 and then retire. Is that a good solution, given the fact that I'm still ...
  • 3
2 votes
1 answer
56 views

If the highest federal marginal tax rate is 33% and the highest Ontario provincial marginal tax rate is 13.16%, why can marginal rate by 53.36%?

The highest marginal federal tax rate in Canada is 33% and the highest marginal provincial tax rate in Ontario is 13.16% (source: Government of Canada tax rates webpage) Adding these together, the ...
3 votes
2 answers
671 views

How would a small investor protect their nest egg if it goes beyond SIPC limit and bank accounts if beyond FDIC limits [duplicate]

Sometimes I wonder if I won a few million in the lottery, how would I protect it? There is news that a big company like Roku had $487 million with a failed bank (SIVB). I wonder how the small investor ...
  • 962
0 votes
2 answers
42 views

Are there any taxes due when exercising ISOs?

I had some ISOs from a US-based startup. I held these for a few years already if that matters. I wanted to exercise 900 shares at $3.3, for some reason the total I need to pay is $16.5K. Main reason ...
  • 189
3 votes
1 answer
841 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 ...
  • 31
25 votes
4 answers
5k views

What happens to depositors at Silicon Valley Bank?

Today, Silicon Valley Bank is bankrupt, the second largest bank failure in American history. What happens to its depositors? Will they be able to withdraw (some of) their money? How long will they ...
  • 2,398
0 votes
1 answer
76 views

Does it make sense to buy a vacation home or invest in mutual funds? [closed]

I understand this has been asked in someway before. Now my turn... I have lived under the impression that property is always good a investment. Here are a few reasons I think I should buy a vacation ...
  • 395
4 votes
1 answer
203 views

Is a purchase still a Schedule C expense if its paid using a gift card?

I've made an Amazon purchase for my business (self-employed) solely using an Amazon gift card which I received for non-business reasons. Does this still qualify as a business expense on my tax return?
  • 155
5 votes
1 answer
561 views

Does one have to pay taxes on the money given by the US government for bribes, espionage, etc?

If the FBI pays you to be an informant, or the CIA pays you to steal secrets (and you file taxes in the US), do you get a 1099 at the end of the year? Do they take taxes off the top? Or is it ...
0 votes
2 answers
86 views

How does buying put orders on robinhood work if you purchase after hours

Here is my current scenario: I bought a put option for 390.00 on 03/09 after market close, the status is still set as queued I see now that the aftermarket price is 390.06 If after market goes below ...
  • 101
2 votes
2 answers
84 views

Convert Traditional IRA into Roth after deduction submitted to IRS

I recently opened a new traditional IRA account and deposited the maximum contribution for last year (2022 - 6k). Since my 2022 MAGI was low enough (<144k as single), I then amended my already ...
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-3 votes
1 answer
94 views

What are the pros and cons, if any, of selling my WA-registered car in California as a Washington state resident?

I am a Washington state resident. I have a car registered in Washington state. I may have to drive down to California (Bay Area or Los Angeles). However, on the way back to Washington state, I can ...
3 votes
1 answer
143 views

HSA and Concierge Medicine

I currently have a high deductible healthcare plan and max out my HSA. I am looking for a primary care doctor and have decided to use a concierge doctor. On the doctor's website it says: Insurance ...
  • 2,113
0 votes
1 answer
35 views

How I get federal tax extension granted proof when Form 4868 was mailed?

I mailed Form 4868 Extension of Time To File U.S. Individual Income Tax Return. How does one get a proof whether the extension was granted? Does IRS send any letter?
  • 159
23 votes
2 answers
6k views

If US Treasuries at yielding 4-5% right now, why can't I find an ETF that yields that amount?

If US Treasuries at yielding 4-5% right now, why can't I find a 1 month US Bond ETF or 6 month US Bond ETF that yields 4-5%? The best I can find is SGOV but it only yields 2%. Picture of US yields on ...
  • 437
0 votes
1 answer
91 views

Add phone number to Zelle using email

I have a Zelle account tied to one of my email accounts. Someone sent a Zelle payment to my cell phone number. Can I add that as a second way to get funds directed to me or, alternatively can I switch ...
-1 votes
1 answer
84 views

What are the pros and cons, if any, of purchasing Treasury securities at a reopened auction (vs. a new, non-reopened auction)?

I read on treasurydirect.gov: When we hold a reopening auction, we are selling additional amounts of a previously issued security. This is reflected in the Tentative-Auction-Schedule.pdf. What are ...

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