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1answer
79 views

Gift from foreign parents

I work in the USA on a visa. My parents gifted me 99.97k in 2021. When I look online, I get the impression that I don't have to do anything since the limit seems to be 100k when the gift is given by a ...
6
votes
3answers
3k views

Using a friend to move cash into my checking account

I have a few thousand dollars that I want to move into my checking account, but as I pointed out in my previous question my bank does not have local branches or ATM partners. I have a friend who will ...
0
votes
1answer
79 views

Question about automated trading from a newbie

I always hear about automated trading programs and some words like API, AI, python ..etc but I didn't try them.. My question is If I made my trading strategy automated using them, will I have to open ...
4
votes
2answers
207 views

Why did Mastercard deploy Maestro instead of Mastercard Debit?

This question has already been asked in the reverse form, "why Mastercard Debit if there is Maestro", and that answer is clear to me: Mastercard Debit is a better choice because it is ...
1
vote
0answers
46 views

Tax on cheques that are yet to be encashed

I have a cheque issued with a date 20/01/2021 and validity of 3 months. I forgot to encash it and now the cheque is expired. I want to know if I need to identify this as a source on income for the ...
0
votes
1answer
88 views

On what basis do countries repay international loans? [closed]

Most countries have their own sovereign currency. Essentially they can print their currency. So how do countries repay their loans? And a similar question would arise while granting a loan to another ...
1
vote
1answer
149 views

Why didn’t my credit score fully recover after paying off a collections account?

My credit score went down 58 points due to a medical collection account that got reported. I ended up paying the account in full and submitting a request for it to be removed from my credit report. ...
1
vote
1answer
53 views

Doing contracting work in a foreign country, who are taxes owed?

I have a question about taxes in relation to the following: A British citizen has a work permit in a foreign country (Ukraine). They work full time here. They also do contracting work remotely for an ...
1
vote
1answer
65 views

Which credit bureau(s) does ID.me and/or the IRS check for purposes of obtaining an IRS transcript?

In order to get a transcript of my IRS account, I have set up an ID.me account and am up to the step of submitting a photo as part of verifying my identity. It appears that ID.me and/or the IRS asks ...
44
votes
4answers
7k views

Is Elon Musk really exploiting a loophole to avoid taxes?

I've been loosely keeping up with some of the news about Elon Musk selling TSLA shares to pay for an upcoming tax bill (for exercising options from 2012). There is a lot of discussion surrounding this ...
2
votes
1answer
59 views

What US Agencies can help with unfair treatment by US Ba

Bank is in the United States. My Aunt (in mid-70s) found a check for a huge sum that was issued one part of her Bank (part A of Bank) about 10 years ago. She put it in a box while going through lot of ...
2
votes
1answer
66 views

Are short term capital gains considered earned income?

I'm trying to figure out the implications of my income situation on my eligibility for the Earned Income Tax Credit. My understanding is: that short-term capital gains are taxed at the same rate as &...
12
votes
3answers
2k views

Tax implications of large gift

My father received an inheritance from my late grandfathers estate, and he decided to gift me and my brothers an extremely generous check as a Christmas gift. The amount of money is significant enough ...
1
vote
1answer
58 views

Difference in market value between preferred and common stock?

I was reading about the difference between preferred and common stock, and I noticed that the market value of preferred stock doesn’t normally increase the way the value of common stock does. Why is ...
0
votes
1answer
49 views

Gain/Loss on Bonds (Fidelity)

I have bought a series of corporate bonds on Fidelity and sold a couple of them after a month. I wondered the best way to measure how much money I made, given how complicated bonds can be. I know ...
0
votes
1answer
61 views

How do I deduct this donation that I made to change.org?

I just donated $100 to a cause through the Change.org website. And I will continue to donate before this year ends. How do I put that on my tax returns so that it can be deducted from my taxable ...
2
votes
2answers
175 views

Converting cash without a bank

I have around $5k in cash that I'm carrying around. My bank is USAA. USAA does not have a physical location or ATM within hundreds of miles of me. I don't want to carry this cash around. I've ...
3
votes
2answers
401 views

ROTH IRA Contribution (Income Too High) How will I know about penalty?

I am currently looking into 2021 Tax and arranging all the documents. I contributed $6000 (myself) and $6000 (spouse) for Roth IRA contributions. Now I am calculating my income for 2021 Tax and it ...
0
votes
1answer
42 views

Is IRR in VC different to IRR in accounting

I am coming from a more accounting background and I always understood as IRR to be a discount rate that would lead to an NPV of a project to zero. That is to say that IRR is how much value money loses ...
1
vote
1answer
51 views

New Home Developer wants Pre-Qualification

Recently I've reserved a home at a new community that has just barely begun construction. The developer wants all new buyers to go through a pre-qualification process with their internal mortgage team....
0
votes
0answers
87 views

Is there anything you can do if you accidentally sold stock shares for a gain (when trying to take a loss)? [duplicate]

While trying to sell for an end-of-year loss, if you accidentally oversell a position, resulting in some shares selling for a gain, is there anything you can do except pay the taxes on those gains? ...
1
vote
1answer
51 views

Has anything changed since 2019 regarding selling shares within 30 days of purchase being deductible for tax purposes?

The upvoted answers to this questions, if correct, indicate that, under US law, if one buys and sells an equity within 30 days for a loss, and does not repurchase anything substantially identical ...
1
vote
0answers
49 views

Resource(s) for becoming financially literate [closed]

I'm looking for some resources for becoming financially literate, something for absolute beginners. Can be in any shape or form, doesn't matter for me as long as the content is accessible. For more ...
1
vote
2answers
32 views

Calculate APY given start balance, end balance, and term

I'm having trouble figuring out the formula for calculating APY given a starting balance, ending balance, and term in length of years. What's the formula to do this?
6
votes
3answers
3k views

Promotion will leave me with a spare $25k. What should I put this towards?

I'm 20, about to graduate college, and have accepted a promotion at my current job that after taxes will leave me with about $25,000 not allocated to anything. I am already putting aside 15% of my ...
6
votes
1answer
567 views

It's official - I've paid off my student loans. Now what?

I paid it off. (Before you congratulate me, I'd like to remind you that I imagine this must be how it feels getting released from prison.) But now there's $1100/month that I was paying toward that ...
0
votes
2answers
112 views

How does getting a mortgage help with taxes? [closed]

If one opts to buy a home with a mortgage, how does it reduce taxes and which taxes? I.e. income tax, capital gains? Is it always a good idea to purchase a home with a mortgage vs. paying in cash with ...
0
votes
1answer
45 views

Can we get guidance/rules how to decide between 3 options of renting/buying/mortgaging a residence to live in

I hope my title of this question won't get me into trouble on this list. My landlord sold the apartment we live in. Due to our circumstance, we can Rent somewhere else and invest the cash in an index ...
2
votes
4answers
742 views

Fidelity funds vs S&P 500 (Is fidelity just "bad" at managing money?)

I invested a bunch of money around March (~9 months ago) in a Roth IRA. I am getting ready to rebalance, and put more money in this January. I was very attracted to Fidelity's ZERO funds, and put some ...
2
votes
1answer
52 views

How early can I claim the federal/state tax credit for solar installation?

So after a few supply chain delays, I was finally able to get my solar installed at the beginning of December. Now that the city has finished their inspection, I am awaiting the utilities permission ...
0
votes
0answers
60 views

Is the IRA early withdrawal penalty less than benefit from EITC?

I am hoping someone could check my math on this. If my income is about $45,000 with two children and I put $1000 into a pre-tax IRA my understanding is that it ups my EITC by about $210. That is ...
1
vote
1answer
57 views

Level 2: What do the different order types on LSE represent?

Here are a list of successful trades from a Level 2 order book. The column to the left of the time the trade went through is the "trade type". It is usually one of three things: AT O Blank ...
1
vote
0answers
60 views

IRAs for US citizens who are non-US residents [closed]

I am a US citizen residing in the UK (for the long term). I understand that I can legally invest in a Roth IRA; however, it seems very difficult to actually open one that will allow me to do so with a ...
1
vote
1answer
72 views

Amended tax return (child tax credit). Received refund of $1207 instead of $1500

Due to lost SSN mail I was unable to claim full child tax credit on my original 2018 and 2019 tax returns. So I was getting $500 child tax credit instead of $2000. After finally learning the SSN for ...
1
vote
0answers
67 views

Cross-country e-gift cards

I've been looking for ways to get my friend who lives in the USA an electronic gift card for the holidays (non-close loop so the card can be used at any store that accepts Visa or MasterCard). I live ...
0
votes
1answer
35 views

IRR vs Interest rate v loan

Probably a simple answer, but I don't seem to get it. I've always been taught the IRR is the equivalent of the rate i'd get if I invest the same amount at a bank. (Or the % I need to compare my ...
0
votes
0answers
24 views

Why should investors consider the "intrinsic value" of a company paying no dividends? [duplicate]

Why should a value investor consider the "intrisic" value of a company paying no dividends, if its stock price is fully determined by the perceived value? Theoretically, it could be possible ...
1
vote
1answer
85 views

Intrinsic value of a stock which pays out dividend

I want to find the intrinsic value of a stock which pays out dividend but not a significant amount. In particular, is there a way to incorporate the dividend payout in the discounted cash flow ...
0
votes
0answers
18 views

nasdaq stock SABR bought on frankfurt stock market in euro

Nasdaq listed stock SABR CORP bought on frankfurt stock exchange in euro,same ISIN, is this stock the same thing different market, can I sell it on nasdaq?..Stock haves market specialist on frankfurt ...
3
votes
1answer
210 views

Do I need to sell stock to effectively use the German Sparer-Pauschbetrag (and if so, how much)?

In Germany, 801 Euros are exempt from the capital gains tax ("Sparer-Pauschbetrag"). There is a small tax on unrealized gains ("Vorabpauschale") but it is afaik negligible right ...
0
votes
3answers
85 views

Do dividend taxes affect how much a stock price will fall on the ex-dividend date?

In theory, when a company pays out $1 in cash dividends per share, its stock price will fall by $1 due to the cash dividend. Does this relationship change when investors have to pay taxes on the ...
13
votes
4answers
4k views

Co-signer taking over as primary when borrower can no longer drive

My sister co-signed a car loan for me. Payments are current. I have had an injury and cannot drive. She wants to take over my car, which I’m fine with. How will this affect my credit? What needs to be ...
0
votes
1answer
147 views

Is the holiday season an unwise time to apply for credit?

Given the rise in consumer spending during the holidays, do lenders mitigate the increased demand for credit by offering lower credit limits than usual, or having stricter criteria for approval?
2
votes
2answers
58 views

Best time to take Beneficiary IRAs Required Minimum Distribution for reinvestment?

I have a Beneficiary IRA and have been reinvesting the RMD from it each year by putting it in a Roth IRA of my own. My understand is I can take the withdrawal any time during a calendar year and have ...
2
votes
2answers
41 views

Tax Implications of employee education assistance reimbursement the following year

The company I work for offers an Educational Assistance Plan and I took classes over the Spring and Fall semesters of 2021. The company requires final grades before reimbursing the expense and so I ...
1
vote
2answers
214 views

Can a tenant build equity in property they are renting?

A tenant rents commercial property and invests substantial capital to renovate and improve the space in order to run a business. Does the renter's investment entitle them to equity or a percentage of ...
2
votes
2answers
499 views

If you sell stocks within a 401k but don't pull the money out of your account, is it taxed?

If I have say a 401k account, and say I sell some of my stocks in there, but I don't pull the money out of my account, is the only tax involved the capital gains tax? Or will I pay my income tax on it ...
0
votes
1answer
114 views

Do I need to sell all stocks before new year in order to claim money lost in stocks? [closed]

For example, I made $1000 dollars in stock market on the first half year. I sold $500 worth of stock. So I have $500 still in the market and $500 in cash. Then I bought $4000 new stocks in the 2nd ...
0
votes
2answers
67 views

How does risk-free interest rate and interest rate differ on their impact on stock price?

According to investopedia: how interest rates affect stock market, "Higher interest rates tend to negatively affect earnings and stock prices (with the exception of the financial sector)." ...
1
vote
1answer
53 views

How do I find the correct address for mailing my LATE 2020 1040

My wife and I still need to file our 2020 federal taxes. It's now past the e-file deadline (d'oh). We don't owe anything, nor expect a big refund... just need to get the paperwork on file ASAP. Since ...

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