Taxes

Who knows anything about IMF in Australia?

Looking to Minimise my tax submitted by /u/IamBrilliant_4170[visit reddit] [comments]...

Question on spouse taking SS early and possible income penalty

My wife is no longer working, so she has no income. She just turned 63. If she starts taking her SS now, does she get penalized for my income if we file taxes jointly? Her difference between taking at...

Living off of just Capital Gains this year - any opportunities to think about?

Our financial planner recommended living off of our cash and taxable investments before starting to draw down our IRAs, giving them more time to grow tax-free. My wife and I retired end of 2022, but t...

Are dividends qualified or not? I need to know before I buy the stock.

Now that I am retired in the USA, I am in much lower tax brackets (a sweet treat) and qualified dividends in particular will be taxed at 0% up to $80k for us, which makes them very attractive. No tax ...

Calculator for managing MAGI and ACA subsidies?

Nearing earlish retirement and will need to use ACA for a few years. We'd like to balance out using our cash reserves, taxable brokerage, and tax deferred assets hopefully leaving the Roth assets to g...

Will the 2024 Elections Impact Your Retirement?

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below about Navigating Elections, Tax Changes, and...

What do you do about complicated financial things when you are really old?

I retired at age 57 last year. Nowadays I have fiduciary financial advisors to help me navigate all the complexities of being a person that has to file quarterly taxes and figure out how to best move ...

How to Invest: Bonds, CDs, and Roth Conversions - 460

Joe and Big Al spitball on investing in index funds, bonds, CDs, treasuries, annuities, net unrealized appreciation on company stock, and where to park cash right now. Plus, how do taxes, Roth convers...

Best strategy for withdrawals of investments

I recently retired with a pension. With my pension and my Social Security, I’m still going to be in a fairly high tax bracket. When I left my government job, I was allowed to roll my IAP 457 ove...

Worth contributing to a Roth in late 50s?

I'm (f57) am considering opening Roth accounts for me and my husband (60). I'm maxed out on my 401(k) and plan on being in a lower tax bracket when we retire. We're not eligible for a traditional IRA,...

How to calculate amount for Roth Conversion

Hello. I would like to do a Roth conversion this year (first time). Is this as simple as withdrawing up to the amount that puts me at the top of the tax bracket I am in without the conversion? Thanks ...

Santa Claus rally came early…will it last? 231129

Episode 435: The Santa Claus rally is a seasonal phenomenon mostly driven by tax policy. Like New Year’s resolutions, it usually quickly fades…leading to the 2nd Quarter phenomenon known ...

What is it like to not have a boss and not have coworkers

It's not my work that taxes me, it's the interactions and ups and downs of working in a 600 person office. My boss and grandboss are great people but there is still the expectations of work, the meeti...

Cost of A/B pour over Trust ? Shocked at the quote

Hello I moved from Texas where we had a estate plan done by professional board certified estate planning attorney. However now we are in a different state Oregon that has estate tax and so I went to o...

Is Your Portfolio Big Enough to Benefit From Roth Conversions?

What are the benefits of Roth conversions in retirement planning? James addresses questions about when Roth conversions become worthwhile. This episode explores key factors: Changes in tax bracket Spo...

I’m retiring at 63, will my SS be taxed at a excessive rate if I have a pension?

I will be retiring with generous pension, paid in social security for 40 years full time. I’m told they will tax my SS benefit about 85%. I’m holding off applying until I know for sure. I ...

10% Penalty Applied to Roth Conversion? Maybe

Photo credit: jb In general, when you withdraw funds from an IRA prior to age 59½, your withdrawal is subject to both income tax and the 10% early withdrawal penalty. The 10% penalty is waived ...

I need to get a plan in order but not sure how to go about it

I have to start taking RMD's next year. I am currently working part-time. I am thinking of stopping work Jan 1 or shortly thereafter. I have always handled my own taxes and finances, but I think it's ...

IRMAA - if my income goes down will my IRMAA surcharges automatically end?

My MAGI for tax year 2021 was over the threshold, as a result I have been paying IRMAA surcharges during 2023. I know that my MAGI for 2022 was under the threshold so I will not be required to pay IRM...

Retiree Medical Savings Account (RMSA). Is it worthwhile or should I just save on my own?

I just realized that my employer offers a Retiree Medical Savings Account (RMSA). They do NOT contribute at all, but guarantee at least 5 percent interest. There appears to be some tax benefits, but I...

401k vs Roth 401k how to decide?

Im hoping to get some clarity on deciding. The usual advice i see is if you think youll be in higher tax bracket in retirement then go roth, if same tax bracket it doesn't matter and if lower tax brac...