Hopefully, this question isn't too convoluted, please point me elsewhere if it is
..
Should I, and how much accelerated depreciation through a cost segregation study should I take this year to be eligible for ACA benefits/tax credits?
This year, my severance ended in March, along with my COBRA benefits. I earned $236K from severance and am now FIRE'd.
For the rest of the year, I made an additional $70K from side hustles/interest/dividends and $130K in real estate income. I am a real estate professional by tax designation, so I can offset my W-2 severance income with my RE depreciation.
Should I just focus on reducing a portion of the $186K (post-retirement income) to lower my MAGI within the ACA threshold, or does the severance income also count toward my MAGI for ACA benefits in calculating my 2025 benefits?
Thanks in advance!
Should I, and how much accelerated depreciation through a cost segregation study should I take this year to be eligible for ACA benefits/tax credits?
This year, my severance ended in March, along with my COBRA benefits. I earned $236K from severance and am now FIRE'd.
For the rest of the year, I made an additional $70K from side hustles/interest/dividends and $130K in real estate income. I am a real estate professional by tax designation, so I can offset my W-2 severance income with my RE depreciation.
Should I just focus on reducing a portion of the $186K (post-retirement income) to lower my MAGI within the ACA threshold, or does the severance income also count toward my MAGI for ACA benefits in calculating my 2025 benefits?
Thanks in advance!