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BonoMan posted:I have a tax question! I file my taxes myself every year. They're pretty uncomplicated. (I used HR Block for a decade but now use TaxSlayer). My CA tax prep software said I owed a huge amount of money until I got to the section where I certified that I had health insurance all year. There's a big penalty in CA if you dont.
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Apr 8, 2023 20:59
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| # ¿ Apr 28, 2024 04:33 |
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I opened a Fidelity account last year that came with a $100 sign up bonus, which I received as a cash deposit in December. They have issued me a consolidated 1099 for this account, but the amount of the sign up bonus is not on it. It seems fairly clear to me that these sort of bonuses are income - do I just add an additional 1099 and mark that I didn't actually receive it?
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Feb 17, 2024 18:11
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Gabriel Grub posted:You're probably fine on the US side. Depending on your mother's country of residence, you might have a very hard time moving that money out of the country unless you fly there and stuff it down your pants on the way back. Yes, but if this money is literally all in cash and gold, its probably not going to be easy to bring it into the US either. You have to declare it when entering the US, and approximately 100% of people traveling with half a million in cash and gold are doing crimes (in this case, tax evasion). I would not be surprised at all if they money was seized.
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Feb 25, 2024 18:26
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I suppose that depends on the laws in the originating country. Inside the US, between US citizens, it wouldnt be a problem to give a $500k gift tax free. But that is because there is a huge estate tax exemption, currently >$13M. So, $500k wouldn't be taxed on death either. If the mother took out $500k for the express purpose of avoiding inheritance tax, presumably the laws are different where she is.
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Feb 25, 2024 18:39
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Where is the non-wage income point when it makes sense to just set W2 withholdings to zero and make quarterly estimated payments?
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Mar 7, 2024 05:32
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Does anyone know how the IRS determines 30C eligibility for credits on installing EV chargers? There is an unofficial map that shows me as eligible, but a mile in any direction is ineligible. I live in an area that is low income compared to the county but extremely high income compared to the country.
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Mar 26, 2024 23:02
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Thanks. Looks like I'm in the appendix B list. No idea why they structured this such that you need to look up an obscure census tract ID and and search 1500 pages of PDF for it
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Mar 27, 2024 02:29
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Hadlock posted:How do I tell HR to withhold more money from my paycheck W-4
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Apr 7, 2024 00:43
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AnonymousNarcotics posted:I can't find any proof that I was given a refund Do you not have a copy of last year's tax return?
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Apr 10, 2024 01:09
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Quixzlizx posted:Do you have any other sources of income, like interest from a savings account? Because your W-4 isn't going to take those into account. I mean its going to take it into account if you put it on there. Thats what it is for. Something like 5-10% of my AGI comes from non-wage income, so if I dont put the additional income on the W-4, I think I would have to make estimated quarterly payments (or, I'd be close).
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Apr 15, 2024 18:00
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AnonymousNarcotics posted:The idea of putting the money in a high yield savings account is a good idea. Any advice on which one? Raisin is an aggregator that lets you move between high yielding accounts without opening a new bank account every time rates change: https://www.raisin.com/en-us/ But, since you are in NY, a treasury money market such as VUSXX is probably a better option right now since it will be almost entirely state tax exempt. Alternatively, an ETF like SGOV or XHLF.
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Apr 15, 2024 18:24
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| # ¿ Apr 28, 2024 04:33 |
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Dony you have to itemize to take charitable deductions? Most don't.
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Apr 16, 2024 02:37
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