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Comments:
Thank you Mr.C, your link goes into a lot of detail,a lot for mere mortals to digest. Whats nice about the tax treatment is mutual payouts annually can go tax free but the real help is when one takes a distribution, the taxable amount is quite low since the annual payouts were reported on previous returns.
Post: Perspicacious Perplexity
Link to comment from July 8, 2024
OMG, I left off the most important parts, there is no tax on qualified dividends or LT Cap gains with maximum taxable income (not AGI or MAGI). Single 0-$47,025 Married filing Jointly 0-$94,054 Sorry for this.
Post: Perspicacious Perplexity
Link to comment from July 8, 2024
Well now, which is better paying taxes on qualified dividends or cap gains. Married taxpayers don't pay for TY2024. A big help to couples living on retirement incomes. For unbelievers, use your tax software with various incomes and see how much tax is levied (hint: use a fake soc sec number and for heaven's sake, don't efile the fake return)
Post: Perspicacious Perplexity
Link to comment from July 8, 2024
If you follow Oracle of Omaha's advice, simply invest in a S&P Index, no work, no extra fees to someone who can't beat it.
Post: Is a good financial advisor worth 1% of assets per year?
Link to comment from June 22, 2024
Significant assets also means significant taxes paid at the switch.
Post: What advice do you wish you were given when you were in your late 40s?
Link to comment from June 22, 2024
I wish I converted my tradiontal IRA's to ROTH's as we were given a five year period (ie 20% of tax paid on a yearly basis for 5 years)
Post: What advice do you wish you were given when you were in your late 40s?
Link to comment from June 22, 2024
After the huge market crash in 1987. I asked my father if I should move my money out of the market in my 401K, his wise response was simple: no, nobody cut their dividend (DJIA was about 2250 then)
Post: What are the smartest financial moves you’ve ever made?
Link to comment from January 29, 2024
Ruins my dinners out when I am charged a "convenience fee" i.e. use of a credit card, to pay for my dinner. Here come pay toilets in restaurants.
Post: What costs are you most loath to pay?
Link to comment from December 16, 2023
FYI Alimony is not deductible for divorce decrees after 2018. Bill W.
Post: What Gets Taxed
Link to comment from January 25, 2023