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Prepaid funeral expenses 15 years ago, with 3.6% interest, should estate get some money back? |
If a Canadian citizen has a US fund bank account in Canada, can they open a PayPal account and link the US fund bank account to it? They will not have a US address since they only have the US bank account for travel purposes. What fees will they be charged if they send money to a US relative's PayPal account? |
I've contacted my bank (Bank of America) over both email and phone with no luck - it seems that there's no way to opt out of this service. A Google search for "[visa account updater opt out][1]" shows that credit unions often offer an opt out, but not major banks.
However there's a neat solution - [Privacy.com][2] v... |
My brother was disabled and i claimed him on my 2019 taxes. If i amend my taxes and take him off, can he receive the stimulus to help out the family? If he's not a dependent in 2020, and files his own taxes, can he get the stimulus then on his own?
Just trying to find out before I amend my taxes. |
We just sold our house and vacant land, which we split into two parcels for sale to separate buyers. The land sale closed at the very end of 2020, while the house sale closed a couple weeks later in early 2021.
Capital gains for the sale of the vacant land appears to be excluded under the home sale exclusion (meets... |
Let's say that an adult is living with his parents. He meets all of the [tests for being a dependent](https://apps.irs.gov/app/understandingTaxes/hows/tax_tutorials/mod04/tt_mod04_01.jsp) of his parents. Now let's say that he wants to file a tax return and claim the [Recovery Rebate Credit](https://www.irs.gov/newsro... |
If someone could claim me as a dependent, but they will not, am I required to check the "Someone could claim me..." box on my 1040? |
If someone could claim me as a dependent, but they will not, am I required to check the "Someone can claim me..." box on my 1040? |
**The event:** I am Brazilian and a Green Card holder and I bought a house in Brazil.
**First question**: Do I need to register this house in my tax return here in US?
**Second question**: Suppose the scenario that I don't have a will and I die... what happens to my house in Brazil?
I am asking this because in... |
What happens to all my assets outside US if I die? |
Is the rsi index used for only day trading or it can be used for long term of few months/days/week?
How reliable is it in your experience? |
How can one download a year's worth of check images for a Wells Fargo checking account?
https://www.wellsfargo.com/biz/help/faqs/check-images/ describes a poor option of "go to Account Activity. Click the check icon next to the check you would like to see." This will be onerous for a full year's worth of checks. |
Download many check images from Wells Fargo? |
I technically have $3000 on my bank account. However, I have -$2000 in "liquid assets", as determined by my little software system which I've made.
Basically, it takes the money I have and then removes all "reserved" expenses which I have listed, for things I know that I will sooner or later need to buy to replace e... |
What is "negative liquid assets" called? |
For example. If the bid price is $1.00 and the ask price is $1.02, and I submitted a hidden order to buy at $1.01, my hidden order will be prioritized over the $1.00 bids, right?
I'm asking because I heard that hidden orders aren't prioritized over orders that are shown, so I'm kind of worried, and am wondering how ... |
Is a hidden order that's higher than the bid price prioritized over the bid price? |
I have always contributed the max to my Roth IRA on the first opportunity in the new year, as I did on January 2, 2020.
I ended up getting a major raise and bonus in mid-2020 that pushed my income way above the limit for contributing in this way, and I don't expect it to come down for a while.
How can I remedy th... |
How can I remedy a Roth IRA contribution what isn't allowed? |
How can I remedy a Roth IRA contribution which isn't allowed? |
I purchased my original home many years ago when I was single. It is a very small condo unit and was much cheaper than I could get a "regular" house for at the time. Later I got married and purchased a larger home, but let a family member (parent) stay in the old one. They have been living there more than five years... |
An interesting question. I was in fact able to find an official IRS document saying that the box must be checked. However, it is not among the normal "user-facing" IRS publications oriented towards taxpayers. Rather it is [this document](https://www.irs.gov/pub/irs-pdf/p4491.pdf) which is apparently part of the trai... |
Suppose there is a future contract with a strike price of $100 and its lot size is 50, so can I purchase the lot at $100? And while selling before expiry or in intraday, suppose the price is $150, so will I get the return equivalent of $(150-100)*50? |
How do we trade and earn profits in future contracts? |
**My situation**
- I'm a UK based freelancer who provides website development services.
- I'm a limited company and VAT registered.
- I provide my services on an online platform based in Denmark. This platform is VAT registered.
- Customers from all over the world post projects on the platform.
- Custome... |
Do I pay UK VAT for digital services provided to a company in Denmark? |
Suppose there is a future contract with a market price of $100 and its lot size is 50, so can I purchase the lot at $100? And while selling before expiry or in intraday, suppose the price is $150, so will I get the return equivalent of $(150-100)*50? |
3 years ago I've purchased an old RV to use (and still using) it as a mobile office and laboratory. A month ago I registered an LLC and now I want to transfer the ownership of my RV to my corporation.
The question is: **should I sell it or just gift it?**
I understand that if I sell it, my LLC would have to pay s... |
Should I sell or gift my vehicle (RV) to my own corporation? |
Assuming I hold a number of stocks in a brokerage account for a 3rd party which pays dividends. The broker automatically deducts taxes and debits the remaining money in the account. How do I accurately record the liability after taxes in my books?
Lets say I have the following accounts:
| Type | Name ... |
> My brother was disabled and i claimed him on my 2019 taxes. If i amend
> my taxes and take him off, can he receive the stimulus to help out the
> family? If he's not a dependent in 2020, and files his own taxes, can
> he get the stimulus then on his own?
>
> Just trying to find out before I amend my taxes.
T... |
I have experience in investing and invest in several mutual funds each month, I understand the concepts of how the *investor* makes money from shares (either by dividend pay-outs or increases in share price). I also understand how a *company* initially makes money from selling shares, they... well, sell shares!
What... |
How do companies profit after initial shares have been sold? |
> What I don't understand is how they ***continue*** to make money (from the market) once the initial shares have been sold.
As you intuit, they don't, because, of course, the purpose of business is to make money through *sales*; an IPO is seed capital for growth.
> Now the owner wants to raise more money through... |
> Since the land sale occurred in an earlier tax year than the house
> sale, are we able to claim the exclusion when filing our 2020 taxes,
> or do we have to pay capital gains for the land sale in our 2020
> taxes, and then wait until we file the 2021 taxes to go back and file
> an amended return for 2020 and rece... |
You're projected future expenses - have you projected future income to cover those expenses? You may actually never be "in debt" at all.
If you know that you're going to have certain expenses in the future, the responsible thing to do is to _account for those in your periodic budget_. If you know that you're going t... |
If I want to invest my savings on the stock market in companies that are in business in particular technologies that I think will be in demand in the future, how do I find them? For example if I think that eg. hydrogen will be used a lot in future transport, how do I find stocks that are involved in this? Another rando... |
How to find stocks of companies that are involved in particular kinds of technology etc? |
> Now the owner wants to raise more money through the market... how? Can they 'split' one of their shares into more shares and sell them at the new value? Isn't that just creating artificial money out of nothing?
They can indeed issue more shares from nothing.
**But note.**
The initial shares in your point two... |
> What I don't understand is how they ***continue*** to make money (from the market) once the initial shares have been sold.
As you intuit, they don't, because, of course, the purpose of business is to make money through *sales*; an IPO is seed capital for growth.
> Now the owner wants to raise more money through... |
I am not sure if I have a misunderstanding about how the will works.
**Scenario:** Let's suppose I:
- have accounts in RobinHood, TD Ameritrade and Wells Fargo.
- then I prepare my will listing all these accounts above.
- Then I open accounts in Webull, Bank of America and buy a house.
**Question:** Do I ne... |
How to keep a will up-to-date? |
> My brother was disabled and i claimed him on my 2019 taxes. If i amend
> my taxes and take him off, can he receive the stimulus to help out the
> family? If he's not a dependent in 2020, and files his own taxes, can
> he get the stimulus then on his own?
>
> Just trying to find out before I amend my taxes.
T... |
I have a 401(k) through company X managed by investment firm Y. I give money to X, who give money to Y, who purchase some stocks. Who do those stocks belong to? Do they belong to I, and are managed by Y? I.e., if Y goes belly-up for whatever reason, the stocks remain, in some sense, with me? Or is my money simply ... |
Who owns the stock in a 401(k)? |
The title of the stock is at the investment company, company Y, in an account held in trust for your benefit.
You are protected from various scenarios described by the SIPC and the Securities and Exchange Commission for the case of the investment Company Y failing, and because this is a retirement account, also b... |
For "truly big" questions such as this, you have to formulate an opinion on issues such as:
https://en.wikipedia.org/wiki/American_decline
You predict:
> there will be a major correction to the stock market some time in the near future
If one really thinks that,
1. You could go long, but, keep tight stop... |
> debt is and will increase with this new administration
Faster than during the *current* administration?
> My fears are ... there will be a major **correction** to the stock market some time in the near future.
1. You can't lose money in CDs, TIPS and Treasury Bills.
2. The market recovers from **corrections... |
3 years ago I've purchased an old RV to use (and still using) it as a mobile office and laboratory. A month ago I registered an LLC and now I want to transfer the ownership of my RV to my company.
The question is: **should I sell it or just gift it?**
I understand that if I sell it, my LLC would have to pay sales... |
Should I sell or gift my vehicle (RV) to my own LLC? |
I'm thinking of getting a Chase credit card. Chase's Ultimate Rewards boasts 2x points on travel/dining, with 1x points on all other purchases.
I make most of my purchases using PayPal, so am wondering whether if I purchase my flight tickets via PayPal (linked to Chase credit card), then Chase's system will recogni... |
>First question: Do I need to register this house in my tax return here in US?
There is no "registration" of foreign property (whether real estate or stocks or anything else) on a US tax return, _but_, as a permanent immigrant, your world-wide income is subject to US tax, and so I hope that you have been declaring t... |
I’m Resident alien on **H1B** visa, got married in Jan 2019.
1. My wife visited USA in 2019, she stayed for **133 days** in USA for
**2019** year and in November 2019 she returned back to home country.
2. In 2020 year my wife couldn’t travel to USA so total
days of stay for 2020 year are 0 for her. I... |
I have an online store and I am based in Canada. My site shows prices in CAD, and when people make purchases they are charged in CAD. I want to display prices in USD as well as CAD, to make it more appealing to US customers.
Is it okay to show USD prices even if I'm still charging in CAD? For example, I have a produ... |
I have an online store and I am based in Canada. My site shows prices in CAD, and when people make purchases they are charged in CAD. I want to display prices in USD as well as CAD, to make it more appealing to US customers.
Is it okay to show USD prices even if I'm still charging in CAD? For example, I have a produ... |
I'm gathering information for my US income taxes. I received $100 in interest on my savings account. However, I also paid $100 in interest on my overdraft line of credit. Do they cancel out such that I report $0 interest income? |
Does bank interest paid offset interest received? |
I think you've addressed some of the concerns that I would have in the comments:
* Who would do the conversion from USD to CAD? Or would you just deposit USD payments separately?
* What rate do you use? Do you try to use a "live" conversion rate or just use a static rate and accept any currency risk?
I definitel... |
I purchased my original home many years ago when I was single. It is a very small condo unit and was much cheaper than I could get a "regular" house for at the time. Later I got married and purchased a larger home, but let a family member (parent) stay in the old one. They have been living there more than five years... |
I have an online store and I am based in Canada. My site shows prices in CAD, and when people make purchases they are charged in CAD. I want to display prices in USD as well as CAD, to make it more appealing to US customers.
Is it okay to show USD prices even if I'm still charging in CAD? For example, I have a produ... |
I wonder whether there any trading restrictions when investing within my Health Savings Account (HSA).
https://www.loyola.edu/-/media/department/hr/documents/benefits/health-wellness/medical/hsa-investment-faq.ashx?la=en says:
> Q: Are there any trading restrictions when investing in mutual funds within my HSA?... |
What are the trading restrictions, if any, when investing within my Health Savings Account (HSA)? |
I wonder whether there any trading restrictions when investing within my Health Savings Account (HSA).
https://www.loyola.edu/-/media/department/hr/documents/benefits/health-wellness/medical/hsa-investment-faq.ashx?la=en says:
> Q: Are there any trading restrictions when investing in mutual funds within my HSA?... |
I live in Argentina where there are a lot of inflation, between 40% and 60% a year in last years, so my question it's what kind of assets should I study to protect value? I'm beginner in investments but as far as I know for this goal I should think in long term and low volatility assets. What do you think about that? C... |
I think, legally speaking, it is clear that the person is not eligible for the Recovery Rebate Credit. [26 USC 6428](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6428&num=0&edition=prelim)(d) (as well as the corresponding section from 26 USC 6428A for the second round [recently added](htt... |
I think, legally speaking, it is clear that the person is not eligible for the Recovery Rebate Credit. [26 USC 6428](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6428&num=0&edition=prelim)(d) (as well as the corresponding section from 26 USC 6428A for the second round [recently added](htt... |
I live in Seattle which is [well known](https://www.newyorker.com/magazine/2015/07/20/the-really-big-one) for potentially having a huge earthquake sometime in the next 1,000 years. I would like to protect my property against such a catastrophic outcome, but at the same time have zero trust in private insurance due to t... |
If I don't trust insurance companies, what alternative options exist to counter a potential earthquake? |
Now, I know what you're thinking. If it's in the money, isn't it good that your broker automatically exercise the options for you on expiration date?
Well, yes and no.
If you somehow managed to miss the expiration date, then that means something likely came up that made it so you weren't able to login and close ... |
If options gives you the RIGHT but not the OBLIGATION to exercise them, then why are they being forcefully exercised if they expired in the money? |
A colleague told me he cancels his payment account every few years and opens a new one for better privacy. He says the IBAN and various other related info should be known to as few people as possible. With each payment, this information is sent to companies (who have invoiced me).
Is it worth such a high effort? Doe... |
periodically change the IBAN number (of the payment account) for more privacy? |
A colleague told me he cancels his payment account every few years and opens a new one for better privacy. He says the IBAN and various other related info should be known to as few people as possible. With each payment, this information is sent to companies (who have invoiced me).
Is it worth such a high effort? Doe... |
I am due a refund from a company and they are sending back the money to my credit card (the card I used for the original purchase).
However my credit card is paid off, so how will this refund be applied ?
Can my credit card go into positive credit ? |
I am due a refund from a company and they are sending back the money to my credit card (the card I used for the original purchase).
However my credit card is paid off, so how will this refund be applied ?
Can my credit card go into positive credit ?
(if I've used the wrong terminology to describe this please ... |
I am due a refund from a company and they are sending back the money to my credit card (the card I used for the original purchase).
However my credit card balance is paid off, so how will this refund be applied ?
Can my credit card go into positive credit ?
The CC is with Barclaycard in the UK.
|
> Maybe an emergency came up, and you weren't able to access internet for a while. Maybe you got into an accident and were in the hospital for some time. Whatever the reason, you weren't able to access your online broker during those time.
Suppose you bought some shares at $1.00 each, hoping/expecting them to rise i... |
> Are there any loopholes under which I would not have to pay this tax?
> Something like if I roll the proceeds of both sales into a new primary
> residence?
That method of deferring profit on the sale of a principal residence, ended in the 1990's. Keep in mind there were also requirements for a minimum number ... |
> Maybe an emergency came up, and you weren't able to access internet for a while. Maybe you got into an accident and were in the hospital for some time. Whatever the reason, you weren't able to access your online broker during those time.
Suppose you bought some shares at $1.00 each, hoping/expecting them to rise i... |
Regarding automatic exercise, brokers do not automatically exercise the options. In the US, if an option is one cent or more in-the-money (ITM) at expiration, the Option Clearing Corp (OCC) will automatically exercise options whether they are long or short. This is called Exercise by Exception. For equity options, you... |
> Maybe an emergency came up, and you weren't able to access internet for a while. Maybe you got into an accident and were in the hospital for some time. Whatever the reason, you weren't able to access your online broker during those time.
Suppose you bought some shares at $1.00 each, hoping/expecting them to rise i... |
> Maybe an emergency came up, and you weren't able to access internet for a while. Maybe you got into an accident and were in the hospital for some time. Whatever the reason, you weren't able to access your online broker during those time.
Suppose you bought some shares at $1.00 each, hoping/expecting them to rise i... |
As MichaelA answers, the only alternative to insurance is **self-insurance**.
• This is not a whacky idea. Note that it is fairly common that corporations "don't like" insurance so they self-insure certain risks. ie, they judge financially that it's better to self-insure.
• A simple real-world example, I have ne... |
Assume two investors with $100,000 each, willing to invest them in Forex as scalp.
Investor (a)
- Funds a brokerage account with the full $100,000
- each trade is executed with the full $100,000.
- trades with no leverage
- set a stop loss to 1% of the investment ($1000) per trade
Investor (b)
- Keeps $9... |
Assume two investors with $100,000 each, willing to invest them in Forex as scalp.
Investor (a)
- Funds a brokerage account with the full $100,000
- each trade is executed with the full $100,000.
- trades with no leverage
- set a stop-loss to 1% of the investment ($1,000) per trade
Investor (b)
- Keeps $... |
> Are these two strategies effectively the same in terms of risk and expected financial
> outcome?
Nope.
Investor B will have a different outcome - plus or minus - because he will have to pay (or get) interest rate for the leveraged amount. Over longer sideways market this may make a difference that is nontrivi... |
I'm trying to figure out how to import QFX files from my brokerage into GnuCash. I have read the documentation about investments [here][1], but I'm having some problems getting it to work correctly. First problem:
I have several brokerage accounts set up in the following hierarchy:
Investments
Brokerag... |
Assume two investors with $100,000 each, willing to invest them in Forex as scalp.
Investor (a)
- Funds a brokerage account with the full $100,000
- each trade is executed with the full $100,000.
- trades with no leverage
- set a stop-loss to 1% of the investment ($1,000) per trade
Investor (b)
- Keeps $... |
In January of 2020, I fully funded my and my wife's Roth ($6,000 and $7000 respectively). Little did I know back then, that I'd get a sizable bonus at the end of the year, which put me over the income limits for contributing. Fast forward to January 2021, my brokerage firm helped me fill out the Return of Excess form... |
Which Tax Year for Return of Excess Roth Contributions? |
You have a right but not a duty to vote in the 2020 presidential election. That doesnt mean you can exercise that right on November 4th. Inaction is still an action, exercised by your choice alone.
Dont you agree to the terms when you buy your options? When you open an account with your broker?
Imagine your ques... |
You have a right but not a duty to vote in the 2020 presidential election. That doesnt mean you can exercise that right on November 4th. Inaction is still an action, exercised by your choice alone.
Dont you agree to the terms when you buy your options? When you open an account with your broker?
Imagine your ques... |
Seems to me the risk you run is charging prices that differ from what you quote.
Exchange rates are constantly fluctuating. If $100 CAD equals $78 USD at the moment, suppose I see the price in US Dollars, and I agree to pay $78 USD... now suppose an hour later when you process the transaction for $100 CAD, the rate... |
You have a right but not a duty to vote in the 2020 presidential election. That doesn't mean you can exercise that right on November 4th. Inaction is still an action, exercised by your choice alone.
Don't you agree to the terms when you buy your options? When you open an account with your broker?
Imagine your qu... |
You have a right but not a duty to vote in the 2020 presidential election. That doesn't mean you can exercise that right on November 4th. Inaction is still an action, exercised by your choice alone.
Don't you agree to the terms when you buy your options? When you open an account with your broker?
Imagine your qu... |
> When I look at an income statement, I see that "net income" is equal to "net income to
> company" minus "minority interest in earnings". Looking at the cashflow statements, I see
> that the net income represented there is the net income to company
> minus minority interest in earnings. Where does the latter go?
... |
I tried to figure this out but can't seem to do it. Here's my thinking:
income:ebay - €10 from ebay (true)
Then this money goes to:
bank:paypal €9.75
expenses:paypal fees €0.25
Then the paypal account shows as if it only receives €9.75, but in reality it receives €10 and then it takes away €0.25 FROM the p... |
How to classify ebay sales and paypal income on GNUcash properly? |
For a few years I had an individual brokerage account in Vanguard where I invested in some mutual funds. Now I decided to open a joint brokerage account with my wife and transfer these funds to this new account, without having to sell & buy these assets. Is that even possible? If so, how do I do that? |
How do I do a fund-to-fund transfer from an individual to joint account in Vanguard? |
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