Our Costco in the KC area is always cheaper than gasoline stations near us. I don't know about Sams since I'm not a member there. Also, with Costco's credit card, the rewards on Costco gas are 5%. Hard to beat.
My wife and I just established a revocable trust to avoid probate when we die. Unbeknownst to us, our umbrella policy with our insurance company (Amica) does not cover the house in a trust. Cars, yes. Not the house. So, now we have to consider changing our house/car insurance. Beware.
Why don't you take it in kind and pay the taxes on the RMD amount from other sources? I always take my RMD in kind. If you like the funds, this allows you to keep them without selling any shares.
But is a foundation considered land? I would think the land is unaffected and the foundation needs to be replaced, which in my mind is part of the house, and not land. Am I wrong?
I would not use any tax preparer who doesn't use tax software. It's too hard to keep up with all the tax laws which are really cumbersome. Software helps point out new laws or changes. My in-laws always did their own taxes on paper and even though I told them they were missing out on hundreds of dollars on a Missouri tax deduction. They didn't believe me. They also didn't realize their farm qualified for the Qualified Business Income Deduction. I finally convinced them of those two mistakes. They lost out on years of the MO deduction even after amending three years of their returns.
Why don't you pay the IRS through the EFTPS system (Electronic Federal Tax Payment System)? I've used that system for decades and never had a problem. Never wrote a check, never had to wonder if the Post Office would get it there in time. I just tell the system what date the IRS can take my money and the IRS takes it on that date.
When I used to prepare payroll for a small company, I tried to end up owing the IRS less than one dollar because if I owed less than $1, I didn't have to pay it. It worked one year when I was really low paid and basically broke. Now that I'm retired and have resources, we don't have any taxes taken out of any of our income. We make estimated Federal and State taxes quarterly, just enough to prevent a penalty if we underpay. Yes, quite often we owe taxes in the end, but I rationalize that as at least we were making money on the taxes we underpaid. The hardest check we ever wrote was the deductible on a hail damage claim on our house. That hurt more than sending the IRS money.
I've had Google fiber for about 8 or 9 years. The first year the cost was $25 a month for 12 months to cover the installation. The next 6 years were FREE. After that it was $30 and to this day I still only pay $30.30 (yes they added 30 cents about a year ago). I use it a lot and do streaming almost daily. It's definitely a bargain for me.
Mr.Quinn, when I prepared an income tax return for a young single lady with one child 20 years ago, she was making about $20,000 per year and was paying $20,000 for her child care while she was working long hours. She was living off income tax credits (child care credit, dependent care credit, and earned income tax credit). She definitely was not better off than most others in the countries you mentioned. Child care is an enormous burden every day, even for well paid people. And very few married couples can afford for one of them to stay home to watch the kid(s). We need to take better care of the poor in the USA who have kids. Higher taxes would help. Also, less government spending.
Comments
Our Costco in the KC area is always cheaper than gasoline stations near us. I don't know about Sams since I'm not a member there. Also, with Costco's credit card, the rewards on Costco gas are 5%. Hard to beat.
Post: A Rant about the Price of Gas
Link to comment from May 4, 2025
My wife and I just established a revocable trust to avoid probate when we die. Unbeknownst to us, our umbrella policy with our insurance company (Amica) does not cover the house in a trust. Cars, yes. Not the house. So, now we have to consider changing our house/car insurance. Beware.
Post: How Big Is Your Umbrella, Follow-Up
Link to comment from May 2, 2025
Why don't you take it in kind and pay the taxes on the RMD amount from other sources? I always take my RMD in kind. If you like the funds, this allows you to keep them without selling any shares.
Post: Quinn needs some advice about his RMD
Link to comment from May 2, 2025
I am removing my comment because it is covered in a comment below this which I hadn't seen.
Post: Buying Treasury Bond ETFs vs. MM Funds in this Moment
Link to comment from April 12, 2025
But is a foundation considered land? I would think the land is unaffected and the foundation needs to be replaced, which in my mind is part of the house, and not land. Am I wrong?
Post: Wherever You Live, Your Home is (Probably) Under-Insured
Link to comment from April 12, 2025
I would not use any tax preparer who doesn't use tax software. It's too hard to keep up with all the tax laws which are really cumbersome. Software helps point out new laws or changes. My in-laws always did their own taxes on paper and even though I told them they were missing out on hundreds of dollars on a Missouri tax deduction. They didn't believe me. They also didn't realize their farm qualified for the Qualified Business Income Deduction. I finally convinced them of those two mistakes. They lost out on years of the MO deduction even after amending three years of their returns.
Post: Would you use a Centenarian Tax Preparer?
Link to comment from February 23, 2025
Why don't you pay the IRS through the EFTPS system (Electronic Federal Tax Payment System)? I've used that system for decades and never had a problem. Never wrote a check, never had to wonder if the Post Office would get it there in time. I just tell the system what date the IRS can take my money and the IRS takes it on that date.
Post: Easy Does It
Link to comment from February 22, 2025
When I used to prepare payroll for a small company, I tried to end up owing the IRS less than one dollar because if I owed less than $1, I didn't have to pay it. It worked one year when I was really low paid and basically broke. Now that I'm retired and have resources, we don't have any taxes taken out of any of our income. We make estimated Federal and State taxes quarterly, just enough to prevent a penalty if we underpay. Yes, quite often we owe taxes in the end, but I rationalize that as at least we were making money on the taxes we underpaid. The hardest check we ever wrote was the deductible on a hail damage claim on our house. That hurt more than sending the IRS money.
Post: Easy Does It
Link to comment from February 22, 2025
I've had Google fiber for about 8 or 9 years. The first year the cost was $25 a month for 12 months to cover the installation. The next 6 years were FREE. After that it was $30 and to this day I still only pay $30.30 (yes they added 30 cents about a year ago). I use it a lot and do streaming almost daily. It's definitely a bargain for me.
Post: Favoring Fiber
Link to comment from June 21, 2024
Mr.Quinn, when I prepared an income tax return for a young single lady with one child 20 years ago, she was making about $20,000 per year and was paying $20,000 for her child care while she was working long hours. She was living off income tax credits (child care credit, dependent care credit, and earned income tax credit). She definitely was not better off than most others in the countries you mentioned. Child care is an enormous burden every day, even for well paid people. And very few married couples can afford for one of them to stay home to watch the kid(s). We need to take better care of the poor in the USA who have kids. Higher taxes would help. Also, less government spending.
Post: Why the Long Face?
Link to comment from September 25, 2023