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01-12-2013, 09:56 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,464
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2013 tax rates/brackets
For all us kids pushing the tax bracket limits.
http://www.irs.gov/pub/irs-drop/rp-13-15.pdf
__________________
For me experiences are not good or bad, just different
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01-12-2013, 10:24 AM
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#2
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Recycles dryer sheets
Join Date: Oct 2007
Location: Georgetown
Posts: 423
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Thanks for posting this! For 2013, looks like maximum AGI for a couple taking the standard deduction and wishing to remain in 15% bracket is $92,500 (72,500 +12,200 + 7800). A worthwhile goal to aim for in order to stay on 0% tax bracket for LTCG and dividends.
Marc
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01-12-2013, 10:34 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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This is something everyone should evaluate. With the SS payroll tax reverting back to its original rate this year, My part time job will earn me about 30 cents on the dollar when figuring in most of the earned money is in 28% tax bracket, plus all other taxes, transportation cost, and loss of state pension tax credit. So I am done for good here in a few months after I finish up my obligation.
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01-12-2013, 02:30 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,008
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Quote:
Originally Posted by grasshopper
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Thanks very much!
Wow, for AMT, not only is the exemption amount indexed to inflation, but the other numbers too! [The "excess" taxable income for the 28% rate, and the AMT exemptions phaseout. Those two numbers had been fixed for decades at $175K and $150K respectively.] That's nice!
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Retired since summer 1999.
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01-12-2013, 02:31 PM
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#5
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Full time employment: Posting here.
Join Date: Apr 2010
Posts: 853
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And don't forget the impact on Divs/LTCG.
20% for those in the highest tax bracket plus a 3.8% tax for "higher" compensated individuals/couples thanks to the ACA.
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01-12-2013, 03:21 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Mississippi
Posts: 1,894
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Quote:
Originally Posted by Mulligan
This is something everyone should evaluate. With the SS payroll tax reverting back to its original rate this year, My part time job will earn me about 30 cents on the dollar when figuring in most of the earned money is in 28% tax bracket, plus all other taxes, transportation cost, and loss of state pension tax credit. So I am done for good here in a few months after I finish up my obligation.
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They really don't give much incentive for singles to w*rk do they.
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01-12-2013, 04:04 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,877
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Avoiding ordinary income seems the way to go. I foresee more people disclaiming inherited IRAs, or not withdrawing from them despite the 50% penalty.
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01-12-2013, 04:10 PM
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#8
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gone traveling
Join Date: Jan 2013
Posts: 52
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I always thought it was a little strange that most so-called developed countries disenfranchise successful people, those with "high" income.
Quote:
Originally Posted by rbmrtn
They really don't give much incentive for singles to w*rk do they.
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01-12-2013, 06:11 PM
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#9
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
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Quote:
Originally Posted by vxp036000
I always thought it was a little strange that most so-called developed countries disenfranchise successful people, those with "high" income.
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What in the tax laws removes the right to vote from high income folks?
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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01-12-2013, 06:16 PM
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#10
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gone traveling
Join Date: Jan 2013
Posts: 52
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High income folks are by definition a minority and will always be plundered by the majority. One of the many flaws with democracy. Maybe when enough of us with substantial income move to more tax friendly countries and the political / economic environment in the USA plummits enough you'll understand.
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01-12-2013, 06:23 PM
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#11
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
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Quote:
Originally Posted by vxp036000
High income folks are by definition a minority and will always be plundered by the majority. One of the many flaws with democracy. Maybe when enough of us with substantial income move to more tax friendly countries and the political / economic environment in the USA plummits enough you'll understand.
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I understand what the word disenfranchise means, which is what you say is happening. Try looking it up.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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01-12-2013, 06:30 PM
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#12
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gone traveling
Join Date: Jan 2013
Posts: 52
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You're clearly using a different definition. Disenfranchise also means marginalized.Which is quite accurate; money that I lawfully earned is forcibly taken from me, much more so than for an average income person.
Quote:
Originally Posted by Alan
I understand what the word disenfranchise means, which is what you say is happening. Try looking it up.
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01-12-2013, 06:40 PM
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#13
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Administrator
Join Date: Apr 2006
Posts: 22,973
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Quote:
Originally Posted by vxp036000
Disenfranchise also means marginalized.
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Then why didn't you say "marginalized" to avoid confusion? It is also difficult for me to believe that someone who can't spell "plummet" is high income.
__________________
Living an analog life in the Digital Age.
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01-12-2013, 06:41 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
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Quote:
Originally Posted by vxp036000
I always thought it was a little strange that most so-called developed countries disenfranchise successful people, those with "high" income.
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Quote:
Originally Posted by vxp036000
High income folks are by definition a minority and will always be plundered by the majority. One of the many flaws with democracy. Maybe when enough of us with substantial income move to more tax friendly countries and the political / economic environment in the USA plummits enough you'll understand.
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Quote:
Originally Posted by vxp036000
You're clearly using a different definition. Disenfranchise also means marginalized.Which is quite accurate; money that I lawfully earned is forcibly taken from me, much more so than for an average income person.
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This sounds like the beginning of a political diatribe - something this forum prohibits. Rather than continue into that minefield you might want to stick to trying to convince a bunch of millionaires why your method of investing is better than theirs.
__________________
Numbers is hard
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01-12-2013, 06:42 PM
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#15
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gone traveling
Join Date: Jan 2013
Posts: 52
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Quite frankly, I don't care whose investment strategy is better. Clearly you do
Quote:
Originally Posted by REWahoo
This sounds like the beginning of a political diatribe - something this forum prohibits. Rather than continue into that minefield you might want to stick to trying to convince a bunch of millionaires why your method of investing is better than theirs.
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01-12-2013, 06:43 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
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Quote:
Originally Posted by vxp036000
Quite frankly, I don't care whose investment strategy is better.
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Then why are you espousing your investment strategy so adamantly?
__________________
Numbers is hard
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01-12-2013, 06:44 PM
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#17
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gone traveling
Join Date: Jan 2013
Posts: 52
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I clearly state that it works for me and also advised that it probably wouldn't work for most other folks. How much more clear can I be? What I see a bunch of folks getting all up in arms about how a few folks have an alternative way of investing. Not to mention ridiculed, and personal attacks.
Quote:
Originally Posted by REWahoo
Then why are you espousing your investment strategy so adamantly?
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01-12-2013, 06:48 PM
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#18
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gone traveling
Join Date: Jan 2013
Posts: 52
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Showing your true colors now
Quote:
Originally Posted by REWahoo
Rather than continue into that minefield you might want to stick to trying to convince a bunch of millionaires why your method of investing is better than theirs.
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01-12-2013, 07:26 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by vxp036000
I clearly state that it works for me and also advised that it probably wouldn't work for most other folks. How much more clear can I be? What I see a bunch of folks getting all up in arms about how a few folks have an alternative way of investing. Not to mention ridiculed, and personal attacks.
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Speaking as someone who plans on bailing from my day job in the next few years and living an extremely tax-efficient life, I am quite happy that there are people like yourself who generate oodles of taxable income and carry the weight of gubmint expenditures. I am tired of doing so and am happy to cede that to you and your compatriots.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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01-12-2013, 07:29 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Word to the wise: generally speaking, comments like this appear to be frowned upon by the moderators here. Play nice in the sandbox, or spend time in the penalty box.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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