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Comments:
IRMAA doesn't last forever, if after the conversions your taxable income falls back to the safe zone. Isn't this true?
Post: Paying to Avoid Pain
Link to comment from May 11, 2024
I have tried in vain to encourage my best friend to sign up on the Social Security site to explore her and her husband's options. She is 67 no longer employed and he is nearing 70 and still employed. She won't even sign up for Medicare part A even after I tell her it is free to her. Are there any suggestions to get through to her? I don't understand how people can so easily ignore an important part of their future.
Post: Don’t Delay
Link to comment from April 20, 2024
As I understood the article, NIIT is based on AGI and 401K, TSP withdrawals and IRA withdrawals are part of that. I didn't read that it only applies to investment income. I'll be finding out this upcoming tax season because our ROTH Conversions pushed us just beyond the 250K limit.
Post: Piling On the Pain
Link to comment from August 7, 2023
Yes it is all about decisions Even when unexpected circumstances arise, decisions can make or break you. Mr. Gabler can move to a lower cost neighborhood, choose less expensive college options, etc. I am shocked the interviewer would ask him if it was his decisions that landed him with no emergency cash. Bravo for him/her! I too completely agree with you Mr. Quinn!
Post: Rant Ahead
Link to comment from May 8, 2022
Thank you for the trust angle. I hadn't thought to buy a bond using our living trust. Looking at the hoops to jump through to establish an account for our trust, it may well take me into May. It would still be a good idea even if I could not make the April purchase wouldn't it?
Post: How to Use I Bonds
Link to comment from April 19, 2022
Be aware that FreeTaxUSA does not support the I bond option. I wanted to do this. Since I already had the time invested on the FreeTaxUSA site, I opted out on the opportunity. Fortunately I did take advantage of purchasing I bonds last year and this year after reading articles here on Humble Dollar.
Post: Rite of Spring
Link to comment from February 18, 2022