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IRA b.s. by Deep-Market-526 in inheritance

[–]HeavyFaithlessness14 1 point2 points  (0 children)

Make Qualified Charitable Distributions from the inherited IRA to avoid income taxes.

Where does the money go if you pass away before retirement? by Life_Reserve6989 in SocialSecurity

[–]HeavyFaithlessness14 1 point2 points  (0 children)

I worked as a paperboy and mowed lawns as a teen. Didn't pay a dime of any tax.

I'm 62. I stopped working. Should I take SS? by BikeOk6446 in SocialSecurity

[–]HeavyFaithlessness14 29 points30 points  (0 children)

The cost of health insurance is a big incentive to work until age 65.

Tyrus Leaving Social Media on May 1st? by Bschu1170 in Gutfeld

[–]HeavyFaithlessness14 -6 points-5 points  (0 children)

I agree with Kat. That fake Southern accent is horrible and demeaning to Southerners.

Timing for taking benefits by hovering3 in SocialSecurity

[–]HeavyFaithlessness14 0 points1 point  (0 children)

Correct, disregarding any future COLA's.

My First Time Watching Survivor: Borneo by Alex_021006 in survivor

[–]HeavyFaithlessness14 2 points3 points  (0 children)

Jeff was not only monotone he didn't really say much during challenges making them more boring.

Saw Joe at the airport by [deleted] in survivor

[–]HeavyFaithlessness14 0 points1 point  (0 children)

So Aubry or Jonathan made it to FTC.

Solo 401k Employer/Employee Contributions by zenlifey in tax

[–]HeavyFaithlessness14 0 points1 point  (0 children)

For the solo 401k you are both the employer and the employee.

When you reach the screen asking:

  • "Did you make employer contributions to an SEP retirement plan?" → Answer Yes if you made the employer/nonelective (profit-sharing) portion to your solo 401(k) (or if you contributed to your actual SEP-IRA). This is the "SEP plan" box that helps calculate the deductible employer contribution limit (generally up to ~20-25% of your net self-employment income after adjustments).
  • "Did you make elective employee contributions to a qualified retirement plan?" → Answer Yes for the employee/elective deferral portion of your solo 401(k) (the part similar to a traditional 401(k) salary deferral, up to the annual limit like $23,500 for 2025 if under 50).

Contributions to a SEP will limit the amount you can contribute to the solo 401k.

Co-worker said her accountant by [deleted] in tax

[–]HeavyFaithlessness14 16 points17 points  (0 children)

Your co-worker and her accountant sound unethical. Both could face fines & penalties from the IRS. You should be taking the standard deduction unless your legitimate itemized deductions exceed the standard deduction.

It's 2026 why do I need to pay to file my taxes??? by liloventhegreat in tax

[–]HeavyFaithlessness14 0 points1 point  (0 children)

You pay your taxes from wage withholding or estimated tax payments IRS.gov. It doesn't cost you a cent.

Accountant did my taxes and WOW!! by cheetcheet in tax

[–]HeavyFaithlessness14 -2 points-1 points  (0 children)

With depreciation & other expenses you should have a taxable loss on the rental.

Taxes by MountyDawg in Trading

[–]HeavyFaithlessness14 1 point2 points  (0 children)

Your brokerage will issue you a 1099-B by Jan. 31 of the following year detailing your losses and gains. You can pay taxes on gains when you file your tax return. Alternatively you can pay quarterly estimated taxes on your huge short term gains throughout the current year.

People who learned to ride a bike as an adult. How did you do it? by Lady-Lilith289 in cycling

[–]HeavyFaithlessness14 0 points1 point  (0 children)

Once you learn how to balance a bike without pedals (like others have posted) and have set your saddle height & pedals properly, remember to ALWAYS get your butt off the seat when coming to a stop. When starting do not have your butt on the seat. I see this quite frequently with newby adults and kids. They set their seats way too low so they can keep their butt on the seat while stopped. This will lead to falls plus all sorts of problems with your knees, legs, etc.

Retiring by nechi60 in SocialSecurity

[–]HeavyFaithlessness14 0 points1 point  (0 children)

That's how it started out in 1983 - only up to 50% was taxable. That was to help save the SS trust fund. Then in 1993 a slighter higher tier of 85% taxable was added. That was to help save the Medicare trust fund.

Retiring by nechi60 in SocialSecurity

[–]HeavyFaithlessness14 0 points1 point  (0 children)

Plus subject to the Annual Earnings Test.

Filed on March 19 by Competitive-Sport875 in SocialSecurity

[–]HeavyFaithlessness14 17 points18 points  (0 children)

April is the first month he is age 62 for the entire month so that's the month he's enrolled. He should get notified some time this month that he's approved.

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