New answers tagged

1

I traded earnings announcements for many years and I have never come across a free earnings calendar that allowed filtering for specific criteria. The only possibility that I can think of might be FINVIZ which lists an EA date screening filter but unfortunately does not display that info on any of the free screeners. That implies that it might be ...


2

Income, and a bonus is income, is taxed in the year it is paid. So unless there was a very special case 5K would be taxed in each year. That special case would be like, if the company paid the bonus on the 30th of December, but for some reason the deposit did not hit your account until sometime in January. Then the bonus would be taxed in the December ...


0

The State tax would be 100 multiplied by .028 to get $2.8 The Federal Tax would be 100 multiplied by .0996 to get $9.96 The self employment tax would be 100 multiplied by .1413 to get $14.13 The sep contribution would be 100 -(14.13/2) multiplied by .16667 to get $15.47


0

Cash the check at any Walmart, grocery store bank, or a Western Union outlet. They all do this for the SO MANY people in the US who are un/underbanked. I'm assuming the check isn't over 5 figures, so should be fine using traditional check cashing services.


3

The 1099-INT form is not saying that any withholding was done. It is simply a notification to you as to how much interest you earned that year (hence -INT), so you may fill out your tax forms correctly. For most taxpayers, paying your taxes is simply a matter of gathering up all your W-4s and 1099s, and tallying them into the right boxes on your tax forms. ...


2

Assuming from your opening sentence that you are buying a completed (but brand new) home from a builder, the mortgage works like any other mortgage. You and the seller will agree on a sale price. You will (likely) put some money down. The opening balance for your mortgage loan will be the sale price minus the amount you put down. The only real difference ...


3

Yes, you can ignore it, assuming that 30c is your only taxable income. All interest earned is taxable at the federal level. However, all the tax forms round to the nearest dollar amount. Therefore, if you have 49c or less of taxable income then you would simply put down "0" on that line if you filed a return. Additionally, if this interest is your only ...


1

Both NQO and ISO are stock options offered for employees and directors as extra incentives and compensation for the work on that specific company. The non-qualified means that they are not restricted by waiting periods, profit, price, employee status or any other stipulation. When employees sell shares after they vest, they have the potential to receive ...


2

The loan ammount is the sell price discounted the down payment. So, if you are buying a house that cost $100.000 and you give a $10.000 (10%) down payment, the loan must be of $90.000 Given these values, each bank will offer you a diferent interest rate based on your credit score, the number of payments and other internal criterias that may vary from bank ...


0

Certainly the landlord has every incentive to want to pin you down for another 1 year's commitment, but that is not required. Almost any US lease falls over to a "month to month" lease at the end of the term. I know you're concerned about the rent going up significantly if you do, but every rental I've ever had, the month-to-month rate remains the same as ...


0

I came to USA in August 2015 on a F-1 visa and switched to H1-B visa in Jan 2020 Tax worldwide generally works along the line that once you are in a country for more than half a year (183 day rule) this is your tax residence. So, you have been a resident since 2016. Yes, even students can be residents regarding taxation - you likely have no significant ...


0

Talk to your landlord, but be well prepared to negotiate with a fallback. Ideally you're looking to move to month to month, but your landlord can definitely refuse/charge too much and you're stuck finishing out the current lease, paying a penalty to move out early, or accepting another 6mo - 1yr. That fallback if it's available in your area is Airbnb or ...


1

As others have mentioned, a month-to-month agreement is the typical and likely solution. Another option may be to get a normal lease but with a provision for early termination. When I was looking to buy a house years ago I was in a similar situation where my lease would be up in a couple months but I couldn't guarantee finding and closing on a home in that ...


5

No. See IRS Publication 526, https://www.irs.gov/pub/irs-pdf/p526.pdf, page 6, "Contributions You Can't Deduct". The very first thing listed is, "You can't deduct as a charitable contribution: 1.A contribution to a specific individual." You can only deduct contributions to charities that have filed appropriate paperwork and registered with the IRS, or ...


5

No, ADP is not responsible for paying your state taxes. If there was an error in your withholdings it's your responsibility to catch it (by looking at your paystubs) and correct it in future withholdings. If it's an error in your W-2, then hopefully ADP will send you a corrected W-2. If it ends up that the W-2 is correct and ADP did not withhold properly, ...


16

The answer is "No" assuming your mother is not a qualified charity. You can find more details here on the IRS website. Even if she were a qualified charity only a small number of people can deduct charitable giving these days with the latest changes to the tax code. You have to be able to itemize your deductions and with the increase in the standard ...


3

My personal experience renting is the best thing is to tell your landlord exactly what is going on in your life and your situation, so even if you do not have month to month written into your existing lease, then they are able to offer it to you, most landlords understand that their renter is a temporary situation that will one day change and if you have a ...


1

The master tenant wants your information using the W-9 form because they want to document for the IRS where they are sending the money. They want to be able to prove their expenses. They can't see inside your company, and don't need to. They know that they send you $x per month, and want to be able to prove the expenses. So they will include your corporate ...


1

Answer from https://fairmark.com/compensation-stock-options/employee-stock-purchase-plans/dispositions-of-espp-stock/: For this purpose, the grant date is normally the beginning of the offering period. Tax regulations issued in 2009 specify that in some situations the end of the offering period (when you purchase the shares) will be considered the grant ...


11

Read your lease. It may already have a provision that it switches to month to month automatically after the lease term expires. I've had a few leases like that in the (distant) past. If that's the case, then you don't really have to do anything.


0

I don't know your landlord, but most places allow you to sign 1-month, 2-month, 3-month, 6-month, etc. leases, but the shorter the lease, the higher the rent. Also, check the lease break penalty in your contract, if it's 1 month's rent(very common), it may be worthwhile to just eat the hit, if the new job pays better.


5

I was in a similar situation a couple of years ago, I was working abroad and didn't know when I would have to leave the country. My landlord made me sign a one-year lease and agreed that I could transfer the lease to a new tenant for the remainder of the lease. This is called a sublease. His only condition was that the new tenant would be approved by the ...


1

No tax. See the IRS Rollover Chart. You are going from the Designated Roth Account row to the Roth IRA column. That rollover is allowed ("Yes") and there is no tax (no superscript 3 footnote for "Must include in income").


3

I would consider it a refund. Imagine the estimate was based on hours, weight, miles, gas, and tolls. You pay 1/2 when they pickup, and 1/2 when they drop off your stuff. Then a week later they send you a check because gas and tolls were less then they estimated. For tax purposes your expenses would be the net of all the payments and refunds. It wouldn't ...


4

The criteria for Qualifying Widow is detailed here: https://www.efile.com/qualifying-widow-widower-tax-filing-status/ One of the criteria is that you have a "Dependant Child" must have a dependent child in order to file as a Qualifying Widow or Widower A dependant child is defined here: https://www.efile.com/claim-a-qualifying-child-as-a-dependent-tax-...


2

My advice would be to ask about switching to a month-to-month. Be prepared for a significant difference in the cost per month. In a recent lease the switch to month-to-month after the initial lease period resulted in a 15% higher rent amount compared with the 12 month extension rate. If you know that you will be in the place less than the break even point, ...


0

All lenders need a way to determine if you are creditworthy. They do so by running your social security number through an independent service that provides verified history of your credit. If you do not provide your SS number, they cannot approve your loan request. Lenders identify you through your social security number.


2

https://www.irs.gov/forms-pubs/about-form-1095-c Form 1095-C is filed and furnished to any employee of an Applicable Large Employers (ALE) member who is a full-time employee for one or more months of the calendar. ALE members must report that information for all twelve months of the calendar year for each employee. Page Last Reviewed or Updated: 18-...


0

Let's leave scams aside for now. You aren't clear on the issue that is causing the dispute. There are circumstances when it might be a bad idea to accept the money because accepting the payment could be construed as agreeing to a contract. Lets say for example, we are talking rent for a property and you agreed $800 for a 1 month tennancy, the counterparty ...


1

Banks have to consider money laundering and other risks in providing you with an account, and the approach they take is risk based - they will want to more information and evidence for a riskier account. For international transfers there are more federal regulations and a particular requirements to flag up suspicious transaction individually or collectively ...


51

Inquire with the landlord about switching to a month-to-month lease, meaning you wouldn't have to renew for an entire year. It's been a while since I was a renter but I recall most apartment leases I've had in my life being for a one-year term for the first year, then month to month after that. You say you're a good tenant and he's a reasonable landlord, he ...


1

The points brought up in mhoran_psprep's answer match my experience working with some actuaries in a commercial auto carrier. I'd like to add a personal note that expands on those points a bit. My family has several antique autos. The insurance premium for such autos is generally quite low. One reason for this is that they are usually driven very slowly and ...


1

Q1: What are the time limits? It depends on the state, and the type of agreement (oral, written, promissory note, open-ended). But according to TheBalance.com, it is usually between three and six years, and the highest is fifteen years. So in your case -- 18 years -- you are very likely going to be prevented from filing a suit in any state, and with any ...


1

Yes, they should be able to do it the same year. The pro-rata rule is calculated in Part I of Form 8606. The after-tax percentage is calculated on line 10, where line 5 (the basis from past years plus after-tax contributions up to the end of the year) is divided by line 9 (the total value of Traditional IRAs at the end of the year, plus distributions and ...


0

Your question is really several unrelated questions which depend in part on some unknown facts. So I'll try to summarize: First, you mention you moved out of the US in January 2019. Unless you meant December 31, 2018, you may still be a part-resident, part-nonresident in 2019 (for tax purposes), depending on what made you a tax resident to begin with. A ...


6

Bonds move inversely to their own yields, which are calculated from the bond prices themselves. It sounds circular, but it just means prices and yields are two alternative ways of looking at bonds. A government bond's yield is often considered the market's expectation for the average of short-term rates (as set by the central bank, noted by Mike Scott) over ...


0

In general, it’s a benchmark short-term interest rate set by that country’s central bank (or to be more precise, the central bank for the currency in which the bonds are denominated). The name and exact details will be different for different countries. In the UK, for example, it’s the official bank rate set by the Bank of England.


3

I would be surprised that there is a threat of a tax audit. I have done something similar, though not with student loan interest. Determining the last number requires a bit of spreadsheet-fu That isn't unusual for 1098-T and 1099-Q calculations. I have found that even Turbo-Tax has problems with the calculations, due to the fact that the school my ...


1

This article indicates that providing a below-market rent would, at most, convert the property from business use, which would allow for certain deductions/depreciation, to personal use, which would not. I am not a lawyer/tax professional, but my sense from reading the IRS Gift Tax FAQs is that there is an assumption that gifts are money, property, or other ...


2

Yes - probably. Ultimately it depends on exactly how you made those transactions. The relevant Federal rule is often referred to as Reg D and it places limits on how certain account types must be reserved for by banks. A bank with deposits from customers is required to keep a portion of that money on-hand and available, as a way to support the liquidity of ...


0

Contrary to what some of the other answers here have said, it is possible to spend your HSA funds on non-medical expenses without penalty, but only if you hold them until after the retirement age of 65: There is no penalty for non-health care withdraws in retirement though. "It works just like an IRA once you hit (age) 65," Conroy says. At that point, ...


2

TLDR: LTCG are counted, but neither side of the comparison is quite as you described If your total income is below a certain limit, long-term capital gains are taxed with 0% (again, up to a certain limit). Not quite. If your taxable income is less than the top end of the 12% bracket (for 2019 $39,475 for single or MFS, $52,850 for HoH, $78,950 for MFJ or ...


2

YMMV, but it sure did for me. (There's no "small withdrawal" exception to Regulation D.)


0

You will need to understand the requirements, which is posted online by most US banks. If you bank with DeutcheBank, maybe there is an advantage to opening another US account with DeutcheBank. Helpful Items: Two forms of valid photo ID: Your passport is a must + secondary form of ID like your student ID, driver’s license… etc. Immigration documents: All ...


1

If you have the paperwork to support that the check is a discount (refund), then it is not income. Otherwise it looks like income.


1

Yes, both you and your spouse have to file Form 8843, since you are both "exempt individuals" (exempt from the Substantial Presence Test) as students, unless you have already been an exempt individual for some part of 5 previous calendar years. You can and should file for past years now.


13

I just want to point out that your question implies a misunderstanding, even though you didn't explicitly mention it: I had an HSA last year. This year I have health insurance through ACA. The fact that you have insurance through the ACA may not be relevant. There are many plans in the ACA that are HSA compatible. But even if you don't currently have a ...


2

From Fidelity Types of dividends There are 2 basic types of dividends issued to investors of ETFs: Qualified dividends: These are dividends designated by the ETF as qualified, which means they qualify to be taxed at the capital gains rate, which depends on the investor’s modified adjusted gross income (MAGI) and taxable income (the rates are 0%, ...


12

If you want the tax benefits of the funds, yes, they must be used for qualified medical expenses as defined by the IRS. You can withdraw funds whenever you want, for any reason, but if they are not spent on qualified medical expenses, then there will be tax implications. If you are under 65 years old, you will pay income tax plus a penalty on any ...


1

The 2019 version of the IRS Publication 970 was just recently released, and it clarifies that you have to take the distribution from a Qualified Tuition Program (e.g. a 529 account) in the same year as the qualified education expense. What is the tax benefit of a QTP? No tax is due on a distribution from a QTP unless the amount distributed is greater ...


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