Thanks for bringing this to the attention of Humble Dollar readers. Even if HD readers don't need the service themselves, they can certainly tell others who do need it. Also, there are probably a lot of HD readers who have the skills to do VITA work. The IRS provides free training materials online. I've been doing VITA work for 10 years, and I find it very rewarding (though not financially of course). The clients are almost always very appreciative. One of the great things about VITA work is that it is time-limited: Most VITA folks only work during tax season.
I include my house in my net worth, because I plan to sell it when I move into a CCRC. However, a good chunk of the value of the house will go toward the buy-in for the CCRC, so maybe I should not count it. It is really just a personal choice. For consistency with how I have figured my net worth over the years, I choose to include the tax value of my house.
Yes, it is disgusting that this keeps happening. Having a Masters degree in Computer Science, I am quite sure that these erroneous messages are automatically generated and that the problem could be fixed by a competent programmer, probably without much work. However, they may be using ancient computers and software, with few people left who know how to operate them. I'm glad you were able to get it straightened out quicker than I was, but they really should not be doing this to people at such a difficult time.
I'm on my third pair of hearing aids, and the AirPods would not be sufficient for my hearing loss. My new ones have several great features: Phone calls go directly to my hearing aids (but I can switch it to the phones speakers if I am on hold -- you don't want hold music or ads cranking through your hearing aids). Also, I can play music from my phone to the hearing aids. The bass is not as strong as on a real stereo, but the sound is adjusted for my primarily high frequency hearing loss. One of the coolest features is a box that connects my TV to my hearing aids, allowing me to listen to ball games after my wife goes to bed or when she is trying to read and I am working out and watching one of the Star Treks. It is no good for enhancing the sound when the TVs volume is up, though. The blood test for colon cancer sounds like a win, perhaps as an adjunct to colonoscopy.
This past spring, to celebrate our 25th anniversary, my wife and I went to Italy for four weeks, with hiking tours at the beginning and end of the trip. The second tour ended on a Sunday, at the Florence airport. I compared prices of the return trip that Sunday with flights the following Wednesday, and I found that we could save $800 each by flying back Wednesday. The $1600 savings more than covered three nights in a nice hotel very near Ponte Vecchio, as well as meals and admission to various places. I was glad I checked.
52% Roth
16% taxable
32 tax-deferred (IRAs and 457) I'm 70 and retired 10 years ago. I took advantage of some low income years in retirement to do a lot of Roth conversions, figuring I will never see 15% or 12% marginal tax rates once I start taking Social Security (as I just did). I might even do another conversion this year. Given the evenly divided Congress, it is within the realm of possibility that no one can pass any tax changes, in which case the current tax rates will sunset at the end of 2025. I don't see my taxes going down under any circumstances (and I am okay with that), so locking in at the current rate is not a bad idea.
Comments:
Thanks for bringing this to the attention of Humble Dollar readers. Even if HD readers don't need the service themselves, they can certainly tell others who do need it. Also, there are probably a lot of HD readers who have the skills to do VITA work. The IRS provides free training materials online. I've been doing VITA work for 10 years, and I find it very rewarding (though not financially of course). The clients are almost always very appreciative. One of the great things about VITA work is that it is time-limited: Most VITA folks only work during tax season.
Post: Thank you, IRS!
Link to comment from November 21, 2024
Hear hear!
Post: Is your net worth, worth it and what’s in it? RDQ
Link to comment from November 11, 2024
I include my house in my net worth, because I plan to sell it when I move into a CCRC. However, a good chunk of the value of the house will go toward the buy-in for the CCRC, so maybe I should not count it. It is really just a personal choice. For consistency with how I have figured my net worth over the years, I choose to include the tax value of my house.
Post: Is your net worth, worth it and what’s in it? RDQ
Link to comment from November 11, 2024
Good plan.
Post: That Final Payment
Link to comment from November 8, 2024
Yes, it is disgusting that this keeps happening. Having a Masters degree in Computer Science, I am quite sure that these erroneous messages are automatically generated and that the problem could be fixed by a competent programmer, probably without much work. However, they may be using ancient computers and software, with few people left who know how to operate them. I'm glad you were able to get it straightened out quicker than I was, but they really should not be doing this to people at such a difficult time.
Post: That Final Payment
Link to comment from November 8, 2024
I'll keep that in mind. I'm the POA for my 97-year-old aunt, and there is a good chance I'll be dealing with this sort of mistake again in the future.
Post: That Final Payment
Link to comment from November 3, 2024
I wish I had done that, or else looked up the rules before writing a check.
Post: That Final Payment
Link to comment from November 3, 2024
I'm on my third pair of hearing aids, and the AirPods would not be sufficient for my hearing loss. My new ones have several great features: Phone calls go directly to my hearing aids (but I can switch it to the phones speakers if I am on hold -- you don't want hold music or ads cranking through your hearing aids). Also, I can play music from my phone to the hearing aids. The bass is not as strong as on a real stereo, but the sound is adjusted for my primarily high frequency hearing loss. One of the coolest features is a box that connects my TV to my hearing aids, allowing me to listen to ball games after my wife goes to bed or when she is trying to read and I am working out and watching one of the Star Treks. It is no good for enhancing the sound when the TVs volume is up, though. The blood test for colon cancer sounds like a win, perhaps as an adjunct to colonoscopy.
Post: Two Innovations That Can Improve Your Health by Dennis Friedman
Link to comment from October 11, 2024
This past spring, to celebrate our 25th anniversary, my wife and I went to Italy for four weeks, with hiking tours at the beginning and end of the trip. The second tour ended on a Sunday, at the Florence airport. I compared prices of the return trip that Sunday with flights the following Wednesday, and I found that we could save $800 each by flying back Wednesday. The $1600 savings more than covered three nights in a nice hotel very near Ponte Vecchio, as well as meals and admission to various places. I was glad I checked.
Post: Booking It by Jonathan Clements
Link to comment from September 14, 2024
52% Roth 16% taxable 32 tax-deferred (IRAs and 457) I'm 70 and retired 10 years ago. I took advantage of some low income years in retirement to do a lot of Roth conversions, figuring I will never see 15% or 12% marginal tax rates once I start taking Social Security (as I just did). I might even do another conversion this year. Given the evenly divided Congress, it is within the realm of possibility that no one can pass any tax changes, in which case the current tax rates will sunset at the end of 2025. I don't see my taxes going down under any circumstances (and I am okay with that), so locking in at the current rate is not a bad idea.
Post: What’s your asset breakdown by tax treatment?
Link to comment from September 11, 2024