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Italian_in_NYC

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  1. Thanks
    Italian_in_NYC got a reaction from Dee elle in married may 2016 didn't really think about FBAR and taxes..   
    If you file MFS in 2016, she is good for FBARs (she wasn't subject to the requirement as she was a NRA for tax purposes).
    You do not have to file MFJ this year, you can still file MFS if more convenient. She may not have a filing requirement in the US if she had not enough income after she entered on a green card (or IV).
    She will have to file FBAR for 2017 as she was a US person at year-end.
    Depending on the amounts, it might be convenient to file MFJ for the whole year. Declare her Brazilian-sourced income and take foreign tax credit.
    File separately the State return (no FTC at state level).
    Or go to 2555 route-partial FEIE (be careful with the tax home issue).
    I forgot. Do not play games with bank accounts, not worth it. Just file the FBAR.
  2. Thanks
    Italian_in_NYC got a reaction from Dashinka in London murder rate overtakes New York as stabbings surge   
    I live in NYC and go to London for work 4/5 times a year at least.
    I feel safer in NYC.
  3. Like
    Italian_in_NYC got a reaction from Voice of Reason in The 1% grabbed 82% of all wealth created in 2017   
    Working hard is a necessary condition, not a sufficient one.
    And even if you're a trust fund baby and don't work hard at all, it means someone before you did (we can argue on estate tax all you want).
  4. Thanks
    Italian_in_NYC got a reaction from Voice of Reason in The 1% grabbed 82% of all wealth created in 2017   
    So what?
    I worked very hard when I was young(er) and I didn't make much money at all.
    Granted, I decided not to have kids when I was a teenager (actually till much later). I studied and climbed the ladder. And I was just a kid from a middle-class family in Italy and a relatively poor immigrant in the US who knew no one.
  5. Like
    Italian_in_NYC got a reaction from Voice of Reason in The 1% grabbed 82% of all wealth created in 2017   
    There is this myth that rich people do not work.
    They work more than everyone else and they are smarter. I don't see anything wrong with them getting most of the wealth created. It actually makes sense.
  6. Like
    Italian_in_NYC got a reaction from jg121783 in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    He is the head of State of the second military power in the world. Like him or not, we need to get along with him.
    Worse people visited the White House. Recently the President of China.
  7. Like
    Italian_in_NYC got a reaction from The Nature Boy in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    You are delusional if you think Putin is not popular in Russia.
    Russian people absolutely LOVE Putin, believe it or not.
    My in-laws, who are no Putin fans by any mean (and have been living in NY for 26 years), think he is the right man for Russia and understand 100% why he is so popular.
    We should respect that and work with him. We (Americans and Westerners) are WAY more similar (culturally) to Russians than Chinese or Middle Eastern people.
    It'd be a natural liaison. Just imagine US and Russia (2 of the 3 largest oil producers and by far the two largest producers of nat gas) creating a cartel similar to OPEC...
  8. Like
    Italian_in_NYC got a reaction from The Nature Boy in The 1% grabbed 82% of all wealth created in 2017   
    There is this myth that rich people do not work.
    They work more than everyone else and they are smarter. I don't see anything wrong with them getting most of the wealth created. It actually makes sense.
  9. Like
    Italian_in_NYC got a reaction from Dashinka in The 1% grabbed 82% of all wealth created in 2017   
    So what?
    I worked very hard when I was young(er) and I didn't make much money at all.
    Granted, I decided not to have kids when I was a teenager (actually till much later). I studied and climbed the ladder. And I was just a kid from a middle-class family in Italy and a relatively poor immigrant in the US who knew no one.
  10. Thanks
    Italian_in_NYC got a reaction from Dashinka in The 1% grabbed 82% of all wealth created in 2017   
    With all due respect, I'm a licensed accountant and a partner at a cpa firm and I get paid very well now when I work a lot.
    When I was a teenager I actually worked as bartender, barista and waiter. I worked a lot and I got paid very little.
    If I were doing the same thing at 40 year old today (with 2 kids), I would not complain with the system, but I'd rather question my life choices.
  11. Like
    Italian_in_NYC got a reaction from Dashinka in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    You are delusional if you think Putin is not popular in Russia.
    Russian people absolutely LOVE Putin, believe it or not.
    My in-laws, who are no Putin fans by any mean (and have been living in NY for 26 years), think he is the right man for Russia and understand 100% why he is so popular.
    We should respect that and work with him. We (Americans and Westerners) are WAY more similar (culturally) to Russians than Chinese or Middle Eastern people.
    It'd be a natural liaison. Just imagine US and Russia (2 of the 3 largest oil producers and by far the two largest producers of nat gas) creating a cartel similar to OPEC...
  12. Like
    Italian_in_NYC got a reaction from Dashinka in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    You have little knowledge of Russia.
    My wife is Russian and so are my in-laws.
    I lived in Russia.
    Russian people know this and are fine with this. All they care is their standard of living, which vastly improved under Putin (although not quite at Western levels). The older citizens used to live in the USSR, under KGB repression.
    They do not care about western standards of democracy.
    And we should stop pretending everyone should be like us.
  13. Like
    Italian_in_NYC got a reaction from The Nature Boy in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    He is the head of State of the second military power in the world. Like him or not, we need to get along with him.
    Worse people visited the White House. Recently the President of China.
  14. Like
    Italian_in_NYC got a reaction from The Nature Boy in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    I'm sure, but propaganda goes both ways.
    We, westerners, are not that innocent.
    Reality is that vast majority of Russians like Putin. Putin, RIGHTFULLY SO, puts Russia's interest first. We should do the same.
    Expelling diplomats is useless, just a PR stunt. Are you 100% sure the Russians did it? Great. Do not say anything, accept their version, and quietly poison a couple of Putin's friends in the center of Moscow. You would get more respect.
  15. Like
    Italian_in_NYC got a reaction from eieio in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    I'm not sticking up, I just want to see some undeniable evidence. Show me CCTV footage of known Russian operatives putting the nerve agent at the Skripals' doorsteps and I'd be satisfied.
    Either way, this is nothing new.
    The "meddling with US elections" is just laughable. The CIA meddled with pretty much every country elections. And they used something more tangible than social media.
  16. Like
    Italian_in_NYC got a reaction from eieio in Putin ordered a nerve agent attack in the UK. Trump invited him to the White House anyway.   
    What is exactly this "growing" evidence?
    They showed us none, so far.
  17. Thanks
    Italian_in_NYC got a reaction from Michael2017 in Property owned before becoming a LPR   
    You did not get it for free, at least for the IRS. It was either gifted or inherited.
    If it was gifted, then the adjusted basis would be the basis of the donor (likely, whatever they paid for it).
    If it was inherited, the adjusted basis is the fair market value at the date of death of the person who left it to you.
    Use the exchange rate at the date of the transaction (date of death, or date of original purchase, if gifted).
  18. Like
    Italian_in_NYC got a reaction from ashcashbananas in ITIN   
    You send in the return and the W-7 together to the Austin office.
  19. Like
    Italian_in_NYC got a reaction from HappyBunny in Weed & Failing Medical (Jamaica)   
    If you say no, you'd better have clean urine and blood.
  20. Like
    Italian_in_NYC got a reaction from smilesammich in Houston man uses AR-15 to defend his home against three violent thugs   
    If a criminal is well trained, then the civilian is dead, 99% of the time, let's be real.
    We need to face the problem. These kind of weapons have to be strictly limited or school shootings will continue.
    It is absurd that a 19 year old who couldn't buy a beer could legally buy such a lethal weapon. It just doesn't make any sense.
  21. Like
    Italian_in_NYC got a reaction from smilesammich in Houston man uses AR-15 to defend his home against three violent thugs   
    I played with the terms on purpose. A semi-automatic weapon is very similar to a machine gun, that's why I called it a semi-machine gun.
    There is no reason to own an AR-15 for self-defense, that's all.
    Wanna have fun shooting it? Go to a range and shoot it there, but can't walk out of there with it.
  22. Like
    Italian_in_NYC got a reaction from dentsflogged in Houston man uses AR-15 to defend his home against three violent thugs   
    Listen, I'm pro second Amendment and people should be free to keep guns in their residence with no license (not possible in many places).
    However, an assault rifle is not a self-defense minded weapon (although it worked well for this man in Houston).
    In my opinion, civilians have no business in owning a machine gun (or semi-machine gun). What's next? Why not a grenade at this point?
    Also, a 19-year old should have no business in buying any gun. It Is absurd that he could not legally buy a beer but hey, an AR-15 no problem (even disregarding his mental health).
    I'm afraid this will be backfiring against all gun owners.
    Seriously, what's the point in owning an assault weapon? Want to have some fun firing it? I understand... go to the range where you can rent it and shoot it.
  23. Thanks
    Italian_in_NYC got a reaction from Saiali in K1 , Married : How to file for taxes?   
    Itemized deductions = schedule A
  24. Like
    Italian_in_NYC got a reaction from -Trinity- in Houston man uses AR-15 to defend his home against three violent thugs   
    Listen, I'm pro second Amendment and people should be free to keep guns in their residence with no license (not possible in many places).
    However, an assault rifle is not a self-defense minded weapon (although it worked well for this man in Houston).
    In my opinion, civilians have no business in owning a machine gun (or semi-machine gun). What's next? Why not a grenade at this point?
    Also, a 19-year old should have no business in buying any gun. It Is absurd that he could not legally buy a beer but hey, an AR-15 no problem (even disregarding his mental health).
    I'm afraid this will be backfiring against all gun owners.
    Seriously, what's the point in owning an assault weapon? Want to have some fun firing it? I understand... go to the range where you can rent it and shoot it.
  25. Like
    Italian_in_NYC got a reaction from yuna628 in Houston man uses AR-15 to defend his home against three violent thugs   
    Listen, I'm pro second Amendment and people should be free to keep guns in their residence with no license (not possible in many places).
    However, an assault rifle is not a self-defense minded weapon (although it worked well for this man in Houston).
    In my opinion, civilians have no business in owning a machine gun (or semi-machine gun). What's next? Why not a grenade at this point?
    Also, a 19-year old should have no business in buying any gun. It Is absurd that he could not legally buy a beer but hey, an AR-15 no problem (even disregarding his mental health).
    I'm afraid this will be backfiring against all gun owners.
    Seriously, what's the point in owning an assault weapon? Want to have some fun firing it? I understand... go to the range where you can rent it and shoot it.
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