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To: gitmo

I look forward to retirement in about a year. My tax returns should become simpler.................


7 posted on 02/15/2024 8:03:42 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

If you have 401Ks or IRAs, you have to figure out how to minimize your required distributions to keep you in the lower tax bracket.


10 posted on 02/15/2024 8:05:07 AM PST by dfwgator (Endut! Hoch Hech!)
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To: Red Badger; gitmo

I retired in 2022. I overestimated withholding from Social Security, 401K distributions and retirement benefits so as to err on the safe side.

That and a lower tax bracket did allow for a generous refund. I’ve since made adjustments to my Fidelity retirement funds and am now in a comfort zone.

You’ll be fine.


16 posted on 02/15/2024 8:15:59 AM PST by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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To: Red Badger

There’s a lot of stuff I don’t do, due to the tax reporting burden.

My charity is cash. No body (here on Earth) needs to know. Don’t try to claim ‘subdidies’, too much paper and time required.

Do work for free. Maybe I kind of swap efforts with folks....

Take standard deduction. It is pretty hard to beat that, for me.


44 posted on 02/15/2024 9:24:13 AM PST by Scrambler Bob
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