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For questions that relate to the laws, practices, and products of the United States.

11 votes
3 answers
10k views

Did basically all mutual funds have a significant crash in 2008?

I am interested in starting a Roth sometime in the near future, but I'm worried about an economic downturn like 2008 eating up a lot of my savings at some point in my life. Did most mutual funds take …
Adam Johns's user avatar
8 votes
1 answer
183 views

How is money in a Roth IRA classified as either "earnings" or "contribution" (basis)?

I have heard that if you withdraw money from your Roth early, there is no penalty or tax as long as it is a "contribution". However "earnings" cannot be withdrawn early without paying tax and 10% pena …
Adam Johns's user avatar
5 votes
1 answer
334 views

Is it common for student loan debt to be paid with another loan found at lower interest?

I currently have 22k in student loans at 6.55% interest. I checked my credit score and it was 706 a couple of weeks ago. I am a recent college grad with a decent paying job right out of college. What …
Adam Johns's user avatar
5 votes
1 answer
1k views

Loan-to-value (LTV) ratio of 65% to remove escrow?

I just got off the phone with Wells Fargo to try to close my escrow account on my mortgage (prefer to just manage taxes & insurance myself). I'm currently at an LTV of 75%, and after doing some quic …
Adam Johns's user avatar
3 votes
2 answers
3k views

When using an HSA debit card for qualified medical expenses, do you typically need to mail y...

How would Fidelity (who I have my HSA through) know that what I withdrew money for was actually a medical expense? And how does it get reported to count towards my deductible?
Adam Johns's user avatar
3 votes
1 answer
381 views

If health insurance 'doesn't cover' a procedure, does the cost of the procedure get applied ...

If I haven't yet met my deductible?
Adam Johns's user avatar
3 votes
5 answers
683 views

Under what circumstance will the IRS charge you a late-payment penalty for taxes?

IRS Topic 301 states You will owe interest on any past-due tax and you may be subject to a late-payment penalty if the payment of tax is not made by the original due date of your return. The wor …
Adam Johns's user avatar
3 votes
1 answer
178 views

In the USA, is the tax deadline for filing or paying your taxes?

If you do your taxes on paper and physically mail your forms, is April 18th: A. The day you must have sent your tax paperwork in the mail B. The day the IRS has to receive your tax paperwork by C. …
Adam Johns's user avatar
3 votes
5 answers
963 views

Is a Roth IRA preferable to a Traditional IRA?

With a traditional IRA, you are taxed on the complete balance of your account when you cash out after retirement correct? This would mean you are taxed on contributions + interest earned. With a Rot …
Adam Johns's user avatar
2 votes
1 answer
152 views

Should I expect money back after filing taxes if tax bracket changes to lower bracket?

For example, say if I started employment while I was single, so when I filled out tax info for my employer when I started, it reflected that I was single. Being single I would be in the 25% bracket. L …
Adam Johns's user avatar
2 votes
1 answer
51 views

Do HSAs have income limits for deducting contributions?

Traditional IRAs have income limits for claiming contributions as deductions. Do HSAs also have income limits for claiming contributions as deductions?
Adam Johns's user avatar
2 votes
Accepted

Loan-to-value (LTV) ratio of 65% to remove escrow?

I got Wells Fargo to mail me a document outlining all the requirements for closing my escrow account. It turns out whoever I was speaking with on the phone was just wrong. The document stated as long …
Adam Johns's user avatar
2 votes
1 answer
84 views

When are employers obligated to update their estimated tax withholdings?

If the Tax Cuts and Jobs Act is signed into law before the end of the year, the law will take effect January 1, 2018. Is there a deadline for when employers must have their estimated tax withholding …
Adam Johns's user avatar
2 votes
1 answer
226 views

Why do you think there is a difference in these 2 funds' expense ratios?

For my 401k my employer offers 49 different investment options. The default option is the FID FREEDOM K 2055 (FDENX) which I have been in for the past year. I recently dug around checking out all the …
Adam Johns's user avatar
1 vote
0 answers
84 views

Filing for unemployment after quitting a W2 job for a 1099 contractor role?

My wife left her W2 job for a 1099 contractor role last month. She was fired from the 1099 contractor role for underperforming after 3 weeks. When filling out the unemployment information for Texas, i …
Adam Johns's user avatar

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