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Motronic posted:As an already-cap-hitter, I completely and totally agree. It's complete bullshit, which I assume got lobbied for by boomers. Nope, SS income tax was always capped. The wage base rises significantly faster than inflation though, think of it as repealing the cap on in the installment plan.
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Nov 5, 2019 23:47
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| # ¿ May 2, 2024 12:40 |
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Unfortunately, the capped tax and capped payout were necessary to fool people into thinking that it was a forced savings plan, which it emphatically is not. Live by your marketing and die by it too.
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Nov 6, 2019 00:05
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I know, right. Obviously he shouldn't have to pay principal since you get to keep it, and just split the ITI with you.
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Jan 14, 2020 02:10
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You don't need to open a separate account, and if this is just a one-off temporary thing, I wouldn't bother. You will report this income on schedule E at tax time. Make sure you keep good records of all your property related expenses as you will be able to apportion some to the rental income and write it off.
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Aug 22, 2021 15:11
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Semi-Protato posted:Is there a thread or any good places to look for how to navigate marriage financially? Ms. Protato and I are tying the knot and we're middle aged professionals getting married for the first time, so we have retirement accounts, real estate, savings, and other similar assets and are looking for some help or someone to bounce poo poo off of. Is there a financial advisor worth a poo poo that will actually advise and not try to sell us on moving our investments to their banks? Or are we fine going to our bank and talking things through with any old banker? What are you trying to accomplish? Efficient combining of accounts? Keeping premarital assets separate? Something else?
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Nov 19, 2021 04:40
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And you should post in the negotiation thread for help with that slight negotiation.
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Jan 13, 2023 21:59
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Weaponized Autism posted:I feel like I need to talk to both an immigration attorney AND a tax professional on this one. You absolutely do.
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Aug 4, 2023 20:56
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Hadlock posted:Are there any resources/templates for doing a university scholarship thing You can just hand out a grand to a kid if you like. There's no tax liability, but you can't deduct it. It would be more tax efficient to find an existing 501c3 that will let you endow a scholarship fund and have a say in where it goes.
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Apr 16, 2024 01:57
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