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  1. O

    Suggestions for estimating future RMDs

    You just have to remember to move the $ the calendar year prior to when you want to do the QCD. One needs an IRA balance on 12/31 prior year that is equal to or greater than your planned QCD.
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    Problems with Fidelity Bond depth of book

    CDs are not bonds. Bonds are not CDs.
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    New Rules for Realtors

    The seller will have to negotiate 2 commissions separately instead of up front with listing agent - first the listing agent commission when getting listing , then when the buyers agent commission submits an offer. Also the buyer agents will begin to insist on potential buyer signing an exclusive...
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    How to figure out when Roth conversions are worth it?

    4. You are looking at the correct RMD table. The value at 75 is correct whether you started taking RMDs at 72, or 73, or in your case at 75. 8. You should read Harry Sit's article 2024 2025 2026 Medicare Part B IRMAA Premium MAGI Brackets. He updates this article monthly after the new inflation...
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    Backdoor Roth IRA timing question

    Just convert "100%" of the tIRA to Roth and any gains will also be converted. Don't enter a dollar value to convert.
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    Spousal Benefits Social Security ?

    Let me suggest that before going down the spousal benefit rabbit hole, one should confirm that the lower earners PIA is less than half of the higher earners PIA. If it is, then use Mike Piper's opensocialsecurity.com calculator for all your what-ifs. However, if the lower earners PIA is greater...
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    Capital One to buy Discover

    I'd expect it will at best match the current Capital customer service.
  8. O

    ER tax accuracy

    Are you assuming 100% of the gains are long term gains? Then yes. However, if there are more than the standard deduction amount are short term gains, then there will be some tax for 2023.
  9. O

    Yet another applying for SS post

    While the wheels of government agencies move slowly, things can change over a long enough period time.
  10. O

    Taxes & SS - Live and Learn

    You need to use the IRS napkin - Worksheet 1. Figuring Your Taxable Benefits found in Publication 915. Easy to implement in a spreadsheet.
  11. O

    Moving to Fidelity and going with a simple portfolio.

    VTI ER at Fidelity is 0.03%.
  12. O

    Another analysis: Why Early Social Security Provides the Greatest Spousal Benefit

    Take early & invest aggressively if one assumes a less than average lifespan. But one is not enjoying the the early years because are delaying the investment returns to allow for investment compounding. If one lives a very long life than will be left with a shortage.
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    PSA: Vanguard 2023 Tax Forms

    We got our mutual fund platform 1099 last week and the brokerage platform 1099 today. And they actually did add up to match what we did last year.
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    Roth IRA question

    If this is your first Roth IRA, the sequence of withdrawals is contributions & rollovers first, then when that bucket is empty you begin withdrawing from conversion amounts (oldest year to most recent year) until that bucket is empty, before you get to the Roth IRA earnings bucket. Being over...
  15. O

    IRA contribution amount limits

    Aggregate traditional IRA/Roth IRA contributions are separate from Simple IRA or SEP-IRA contributions.
  16. O

    Minimum Dignity Floor - Spreadsheet?

    I don't consider medical expenses as fun.:)
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    IRA contribution amount limits

    According to the IRS "Yes, you can contribute to a traditional and/or Roth IRA even if you participate in an employer-sponsored retirement plan (including a SEP or SIMPLE IRA plan)." Contribution limits for 2024: $16k for Simple IRA, +$3.5k >50 catch-up contribution $7k for tIRA/Roth IRA in...
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    Roth rollover questions

    110k+15k+15k=140k which is below the 146k beginning of phaseout limit for Roth contribution for a single person in 2024. Deductions have nothing to do with Roth IRA contribution MAGI (AGI + tax-free interest).
  19. O

    Question about Social Security and Medicare Premium Deduction

    You have to request either 7%, 10%, 12%, or 22% tax withholding in the comments field.
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    Would it be better to take Social Security at 62?

    What are the column headings for your table of numbers?
  21. O

    Trust - Late in Life New Spouse

    And refrain from joint accounts with new spouse.
  22. O

    SS at 62 with minors

    Have you entered your PIA info into opensocialsecurity.com and click the checkbox at the top and then select the children <19 or disable checkbox, etc.? I trust Mike Piper's tool.
  23. O

    Born March 1952 When to take RMD?

    That is true for like accounts. Total RMDs for IRAs can be taken from a single IRA. But 401k account must take its own RMD, can't be taken from your IRA. Of course you have the option to rollover the 401k into your IRA and starting the following year can take a single RMD from the IRA.
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    Post-tax IRA, 30 years later

    If your DW has 2 or more IRA's (not Roth IRAs) then the IRS considers all of them in total as a single traditions IRA. When doing your taxes the non-deductible contributions will be pro-rata across all the non-Roth IRAs balance totals. It does not matter which traditional IRA you take a...
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    Updated IRMAA estimates for 2025

    Gambling losses increase (up to gambling gains) the itemized deduction total, which in turn reduces taxable income, not AGI nor MAGI. Gambling losses can only help reduce AGI if one makes their living as a professional gambler (Schedule C).
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