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0 votes
1 answer
20 views

Keep money in Australia but have access to them overseas

I am going overseas for extended period of time. Gonna have overseas residential address, mailing address and non Australian phone number. But I want my life savings to be in Australia with access to ...
  • 101
0 votes
0 answers
15 views

What Investments are available in Canada to offset inflation impact?

I would sincerely appreciate your advice on the following topic: what investment opportunities are available in Canada to offset (at least, partially!) impact of inflation. I am not a financial expert,...
1 vote
0 answers
11 views

How to pay (and account for) the portion of rent (or fuel) for business use (LLC)?

I co-own an two-member LLC with my wife. We're in the US. We own a car, and rent a home. For operating our LLC, we'll use a separate room exclusively and regularly for business use only (admin and ...
1 vote
1 answer
30 views

Converted Traditional IRA to Roth IRA (backdoor) with money market funds, is that a mistake?

During last year (2022), I wanted to do a typical backdoor Roth IRA. I made a full $6,000 post-tax contribution to my Traditional IRA, waited for the transfer to settle, and then immediately converted ...
  • 113
2 votes
1 answer
15 views

US Taxes: Increase Supplemental Income vs extra withholding?

From my company I am getting RSUs and the default 22% federal income tax is covered automatically by selling some of the vested shares. However, 22% is not sufficient to cover my tax liability. We ...
4 votes
1 answer
31 views

Does the amount of tax relief I get for charitable giving increase if the charity doesn't have gift aid

In the UK does the amount of tax relief for a self employed person increase if they give money to a charity that doesn't have gift aid? e.g. For a higher rate taxpayer if they give £100 to a gift-aid ...
5 votes
1 answer
140 views

Will not receive 1095-A for federal taxes

I bought a health care plan on a state exchange but do not receive a subsidy and so did not receive a 1095-A form. However, on my federal income taxes, it is asking "Did you have health insurance ...
  • 153
0 votes
0 answers
46 views

What is the correct accounting term for an ongoing record of "who owes what" between 2 parties? [closed]

Can anyone help me with the correct accounting terminology for what I have below. The table is showing an ongoing record of "who owes what" between my business and a particular 3rd party ...
5 votes
1 answer
860 views

Are Bonds holder paid before Stock holders in USA unlike Europe AT1 Bond holders?

I see news that AT1 holders of Credit Suisse , a type of bonds that were a solution to 2008 crisis. ...They were created in the wake of the 2008 financial crisis as a way for failing banks to absorb ...
  • 962
2 votes
1 answer
138 views

Is withdrawing all one's deposits a good tactic on pressing on the state? [closed]

In recent news, I see calls for people to withdraw all their cash deposits, supposedly to pressure against the state on a certain decision. (redacted the names since the question is not about the ...
5 votes
1 answer
730 views

How can I withdraw money from Inherited IRA and credit it to last year?

I'm in a situation where I have a significant amount of money in an IRA that I need to withdraw over the next several years and I want to minimize the tax penalty. I have some leftover tax credits and ...
  • 159
11 votes
4 answers
2k views

Annuity money is not insured?

I am thinking of buying an annuity. I am worried about the following words on the contract. Is it the standard way of an annuity? If something goes wrong, will I lose ALL my money? I am in the USA. ...
  • 383
1 vote
1 answer
44 views

How to compute cost basis over multiple purchases, for sale of a fraction of the assets?

(The example below is, of course, unrealistically simple, just for the sake of illustration.) Suppose that I made the following purchases and sales of shares of some stock X: | 01/15/2021 | bought | ...
  • 197
1 vote
2 answers
91 views

Short selling options, can brokerage force seller to buy back the options

In case if I short sell ETF or stocks, brokerage can ask short seller to cover the position even if the user is paying interest and is within margin limit. With this question, I want to know in case ...
  • 962
3 votes
1 answer
68 views

Does money paid in lieu of dividend count against qualified dividend income?

I am short an ETF and will pay the dividend to whoever owns the ETF, in lieu of dividend. However, most of my dividend income is in the form of qualified dividends. Will the payment in lieu of ...
4 votes
0 answers
89 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 ...
  • 151
2 votes
2 answers
936 views

How does SIPC insurance help a small investor with a fixed portfolio that is currently down below original value?

If your original portfolio was worth $500k started a year ago but the same amount of shares holdings is currently only worth $350k, does it mean you are insured at most $350k? Or all of the stock ...
  • 29
1 vote
1 answer
36 views

Declaring foreign interest in 1040 and FBAR

I am a foreign national (and a resident alien for tax year 2022) working in the United States. I am on a J1 Research Scholar visa. I have received W2 for my salary from an US University and I have a ...
  • 13
3 votes
1 answer
99 views

We found share certificates of the Preferred stock from Waconia Creamery Association Waconia MN first one dated 1943 -1958. Are they worth anything?

Waconia Creamery Association gave the farmers that sold milk to the creamery shares in the business. It might have been a Co-op. We think the creamery was part of Waconia Farm Supply. Later it was ...
  • 31
0 votes
1 answer
30 views

TD Ameritrade Phone App Giving Inconsistent Candle Charts

Just checking the stock BYND over 1 and 3 month periods I noticed that the same day was given a green or red candle depending on the length of the chart chosen. Am I missing something that is causing ...
1 vote
1 answer
32 views

How does a non resident alien report income & dividends from a K1?

I had bought some USO via Robinhood who have a W8BEN on file and now I have received a K1. The K1 reports an interest income of $9. Is this ECI? Can I just put it in line 2b in the 1040NR? My ...
  • 11
-5 votes
1 answer
93 views

What would be the best cryptocurrency Trading website [closed]

Can anyone direct me to the best cryptocurrency/bitcoin trading website. I need to make some money very quickly. I was scammed previously and I want to be able to get back on my feet again. I ...
  • 355
-2 votes
0 answers
57 views

Automatic Trading [closed]

I do a lot of trading based on algorithms that I program with a computer. I know that the patterns on which these algorithms are based have a long-term edge. So I would like the automated ones to ...
  • 1
1 vote
1 answer
60 views

When can I liquidate a position and receive the declared dividend

I’m holding stock in XYZ company and they are paying a dividend on April 3rd but the ex-dividend date is April 4th. In which of those two dates can I sell my stock and still receive the dividend? ...
2 votes
0 answers
25 views

What is the date of acquisition for the purpose of declaring capital gains on sale of property (publicly traded stock) ? (Canada)

I have capital gains and losses to report on my Canadian tax return to the CRA (I'm an individual, not a corporation). My tax-filing software (Ufile) is trying to help me generate form 5000-S3 (...
2 votes
1 answer
40 views

How to determine if a mutual fund sale is a gift or purchased if sold from a transferred account?

I received ownership of a mutual fund account from my father about 15 years ago which I have continued using. Turbotax has just started asking me this year how I received the investments that were ...
2 votes
1 answer
38 views

Are there any taxes to be paid to HMRC when I sell an inherited property in another country?

I recently (less than six months ago) inherited a flat in Italy. I'd like to sell it. Are there any taxes to be paid to HMRC if I have the money being paid to a UK bank account?
  • 157
1 vote
1 answer
25 views

Foreign Earned Income Exclusion (FEIE) and future qualifications

I've used the FEIE in the past and haven't had any issues. TurboTax is now telling me that since I left the US in July, and thus don't have 330 days required for the physical presence test yet, that ...
3 votes
0 answers
69 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 ...
8 votes
5 answers
1k views

When to claim check dated in one year but received the next

A check bears a December 2023 issue date. I receive it in the mail in January 2024 and deposit it in January 2024. I operate this business on a cash accounting basis (not accrual), so what do I do ...
  • 1,435
2 votes
0 answers
52 views

Do I need to pay tax in Italy if I'm inheritating in France?

I am inheriting 100k€ in my home country, France. The account is a french one. However, I am currently residing in Italy (I got an italian ID card, work, pay my taxes and live there 99% of the year). ...
  • 21
1 vote
1 answer
50 views

US taxes Filling in W9 form as a non-resident electing to be taxed as resident

My wife worked in the US in 2022 as an independent contractor on F1-OPT status. She was recently asked by her client to fill in a W9 form. The W9 form specifies that it is for US citizens, or US ...
  • 11
-3 votes
0 answers
92 views

How much money can the owners of an LLC pay themselves to not be accused of "shielding funds from a lawsuit"?

Let's say an LLC has two owners and it makes 300k a year in profit. The owners each pay themselves a (reasonable) 150k salary each year, leaving the assets of the LLC itself 0. In the event the LLC is ...
-4 votes
1 answer
115 views

What does the EE stand for in EE bonds?

I wonder what the letters "EE" represent in "EE bonds", i.e. whether it's an acronym and if so, what the full form of the EE acronym? I searched quite a bit and couldn't find the ...
0 votes
1 answer
25 views

Required to fill out Form 7203 per TurboTax for S-Corp K-1?

I am using TurboTax Premier to do my taxes for 2022. I have a K-1 from my S-Corp, and TurboTax is telling me I need to fill out form 7023 for this K-1, a form I have never had to fill out before. I ...
  • 3,491
2 votes
2 answers
69 views

What are the pros and cons of using an IRA distribution as a bridge loan when selling and buying a house?

I'm planning to move to a different region in the US on a tight schedule. I have enough equity in my current primary residence to pay for a down payment on a new home, but since I'm on a tight ...
1 vote
1 answer
33 views

Uk tax inheritance from overseas parents

I'm a UK citizen with double nationality from Italy. I live and work in the UK. I'm receiving some inheritance from my late Father (cash money and shares), who was Italian and resided in Italy. Are ...
  • 157
1 vote
1 answer
75 views

Shorting stock vs buying stock on margin which fee is higher?

I know when you buy stock on margin you need to pay a interest rate for example with IB a rate + benchmark rate. How expensive is shorting a stock long term, is it a similar fee as buying on margin e....
  • 2,003
2 votes
1 answer
89 views

Can I manage somebody else pension pot?

I have an uncle that is meant to receive a modest amount of money from overseas. The person in question is 60 and does not have a stable job. I want to set up a pension pot for him so that once he ...
  • 157
12 votes
4 answers
3k views

Joint owned property 50% each. Can 50% rent be charged?

My sister has lived in a property that was passed to us both in our parents' will. She has never offered to pay any rent in a mortgage-free house with her and her three children. This has been going ...
15 votes
4 answers
5k views

Did I give the right advice to my father about his 401k being down?

My dad has seen recently that I have taken an interest in finance and he asked me what he could do about his 401k being down. So I said the US is currently in a recession and now you should put in ...
  • 713
5 votes
1 answer
415 views

When do I include solar credits on my taxes if they are contracted and installed in different years?

In California, USA, in October of 2022 I signed a contract, paid a deposit, and began making payments (10 year term) on solar panels for an investment property The unusually stormy season has delayed ...
  • 3,006
1 vote
1 answer
62 views

When do I include a new roof on my taxes if contract and install are in different years?

In California, USA, in October of 2022 I signed a contract, paid a deposit, and began making payments (10 year term) on a new roof for an investment property. The unusually stormy season has delayed ...
  • 3,006
-5 votes
0 answers
76 views

Where can I see on Merrill Edge the sum of the dividends and distributions that were from a foreign country or U.S. possession in a given year?

When preparing my US taxes, I need to indicate the sum of my dividends and distributions that were from a foreign country or U.S. possession in a given year. E.g., in TurboTax: Where can I see on ...
1 vote
4 answers
372 views

Are there "banks" (or something morally equivalent) which merely stores their clients' money and doesn't invest/lend/etc it?

Another year, another major bank or two goes down because it decided to take the money that it was entrusted with it and go gamble. All of them fear "bank runs" because they know that they ...
  • 1,051
9 votes
5 answers
5k views

How are the banks behind high yield savings accounts able to pay such high rates?

How are the banks behind high yield savings accounts able to pay such high rates? Where does their yield come from? Do they invest in just high yielding treasuries or junk bonds, or other high ...
  • 447
1 vote
2 answers
78 views

How is the yield of this particular bond calculated?

I am looking at this particular bond of coinbase company via Interactive Brokers website. Coinbase Bond ISIN : USU19328AA89 The rate of the bond is 3.4 so at the ask price of the bond at 62 the yield ...
6 votes
3 answers
2k views

US: how to prove business expenses?

I'm a freelance writer who works from home. My internet fees should count as business expense and be deducted from gross, but the question becomes how much? Since I also use internet for entertainment ...
0 votes
1 answer
36 views

H1B & H4 Married Filling Jointly+ITIN with less than 183 days in Substantial Presence Test

I'm on H1B visa and my spouse is on H4 visa. We both came to US on Sep 2022 & We have been in USA for 113 days in 2022 and 0 days in 2021 & 2020. Can we file Married filing jointly as Resident ...
  • 1
5 votes
1 answer
508 views

What's the real yield on this bond?

I've never bought bonds before and I'm looking into US Treasuries. The 3mo treasury below is described as having a ~4.9% yield. How is this number derived? To me, it looks like if I buy this note with ...
  • 151

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