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We never had a number. The whole idea of "a number" wasn't a thing back when we were accumulating. In retrospect, we blew past "a number" that would have worked long before I even considered retiring. I'm not sure what would have changed.

I do our taxes but I have identified a firm to pick up the task if I am no longer willing or able.

I'll add another reason. The taxpayer may have some basis in the IRA which needs to be pro-rated to the QCD. and another reason, the taxpayer may be subject to the clawback rule if he made recent contributions to the IRA

We use one of our DAFs to pass-through the small charitable items so no need to keep track of details. I'd have to be in pretty bad shape to exceed the 7.5% on medical so I don't bother keeping track

Correct. The custodian has no idea what the taxable amount of a distribution is.

agree; my plan when the time comes is to focus QCDs on the bigger payments (which are fewer), do these in Q1 and continue to use our DAFs for smaller items. Checks do go missing - we have had two DAF checks disappear into the ether never to be found. Same with checking account. Checks need to...

It is important to note that when Vanguard issues the check, the amount comes out of the IRA and is considered a distribution at the time they cut the check whether or not the check is cashed in that year. If you write the check, VG has no idea about it until the check is cashed. If the check...

You are on the same path I am. I've taken a couple of steps ahead of you. I have already identified the account to do the taxes. Also, a while back I decided to flush the HSA and get that behind us -- it just wasn't a big deal.

do you know for sure they are trading? I recall back in 2008 when Tips were thinly trading I could not get orders placed online and ended up talking directly with one of their bond traders who helped identity lots. Back then the lots were pretty small ($100K) due to the credit market wonkinenss

I'd have to look at the regs but doing a transfer from an IRA to a private foundation would be considered a distribution (taxable). QCDs cannot be made to DAFs or private foundations.

I see a lot of posts on Boglehead where the poster has a narrow view on medical expenses and only talks about insurance ( and maybe OOP insurable costs) but completely misses potential risk of uninsurable costs. There are some blockbuster drugs that are not covered by Part D that can set one...

For equities I would definitely not since the price of the stock drops by the amount of the dividend. I could argue bonds either way. When I was in accumulation mode, the only net savings that mattered was savings coming from our income.

I was joking. We bought know where everything is and how it works, for the most part. She is the only one who knows where the key to the wine cabinet is -- but I all but quit drinking years ago so I'll be OK.

yeah; I hope my wife writes all these things down so I'll know where they all are.

Would not be surprised. I've lived in a lot of places over my adult life - both in the US and outside the US. Some high tax places are the best we ever found. Some were not. Same with lower tax places. A lot of variation.

I am POA for an older sibling. We have not gone over details but I know hers is quite messy. I will see her in late May to start the conversation. If she doesn't agree to simplify things I am going to suggest she find someone else to be the POA.

First, my wife is perfectly able to handle everything although she would prefer to not get bogged down in a lot of "administration." I have been on a tear to simplify everything - in part for my own benefit and in part to make it easier for her to pick it up. Every chance I get I try to...

I "get to itemize" and I don't have a mortgage. Instead of sending my money to a mortgage company I get to direct it to other charities of my choice.

Not that I know of. I'm not even sure how one would do that. The IP PIN will prevent a tax return filing. The credit lock will prevent use of YOUR credit. What else do you have that you need to protect? If you don't have all the security features available from your financial institutions...

Block from what?

Many states have partial or full exclusion of retirement income. That said, if I wrote down the top five criteria for where we decided to retire, taxes don't make the list.

You can also adjust your income used for the standard calculation to include certain non-taxed items that don't appear on your tax return like a life-insurance payout. In unusual cases these adjustments can make the difference between taking the sales tax deduction vs. income tax.

That is right; we do most of the larger ones that are local anonymously through our donor fund. One option I need to look into is our local community foundation. They provide a lot of support to most of the local organizations we support. One option may be to simply do a mega QCD to the...

I would say almost always. We are using taxable DAF donations until RMDs start because I can lower our overall tax that way. The RMDs will all go to charity either way so between now and RMD time I can deduct the taxable assets I flush. QCDs do have some limitations that are not financial but...

IMO the value of an attorney isn't so much the preparation of documents as it is helping you develop a plan that ultimately determines what documents you need. I am not trained in state and federal estate laws so I prefer not to DIY. Same with surgery.