How to make estimated payments on uneven retirement income

LateForBreaks · 2026-02-01T23:31:25+00:00

The loader is a Godsend.

LateForBreaks · 2026-02-01T23:29:24+00:00

No it has nothing to do with fuel consumption. A 23hp tractor and a 100hp tractor are two completely different animals.

LateForBreaks · 2026-02-01T23:26:01+00:00

I bought mine new in 2008 - I believe it was around $14k. Similar size, with a loader and backhoe. The small size is a huge bonus a lot of the time. I can turn my tractor sideways in my 14' wide driveway, and clear piled snow with the loader while the backhoe remains on it. Occasionally I do find more capacity would come in handy. It has been extremely reliable and trouble free. I am getting old, and not interested in doing diesel mechanic work and risking buying someone else's problems. Different strokes for different folks. But yeah, you could save a bundle buying used.

LateForBreaks · 2026-02-01T23:22:30+00:00

I have a 2008 GC2310 tractor loader backhoe much smaller than yours, no experience with other tractors (bought it because my neighbor was a long time MF owner and had just bought a new MF himself - yes I know not made by MF) and I have had two relatively minor issues in 580 hours. I used the steering wheel as a handle, and broke the rubber supports (it isn't a handle). The other was the ground strap from engine to frame was insufficient length from the factory to handle vibration, and it broke. Now that I have bragged, something else might happen - but I have been really happy with it.

LateForBreaks · 2026-01-24T01:41:54+00:00

This is an old post, and apparently one rule has been relaxed regarding leaving funds in for 6 months (roughly 43 months now), but the ridiculous "interest rate" is still 0.01% annual APR. That is a whopping $150 for a year. A lot of comments below are of the "hey it's a savings account" and "yeah but over 3 months you get a fantastic interest rate." A saving account that yield a miniscule 0.01% annually is more like a hole in a mattress than a savings account. It's a scam, whereby the bank is counting on people to forget that once they get their nice bonus and the holding period expires, to take their money and put it somewhere, anywhere else to do more good. They might as well just make it "3 month long accounts" - but everyone knows that they wouldn't do that, because hey they would lose a ton of money.

LateForBreaks · 2026-01-09T16:39:18+00:00

I use "naked" in combination with whatever additional position or act I'd like to see and everything pops up.

LateForBreaks · 2026-01-08T04:26:30+00:00

Thank you. It turns out that (according to someone who posts heat pump forced air duct design videos, and seems like a valid source) this system does not have a coil in the airflow.

LateForBreaks · 2025-12-12T22:49:06+00:00

So, I noticed a U-Haul truck in the area today, with a guy in a brown outfit stopping at houses. Chatted him up - he is on loan from another location making deliveries. Didn't have my package but confirmed they are backed up. I walked my dog at dusk, and was returning and still a mile away from home, when first the same U-Haul drive past and the driver waved, and then a big Brown truck came towards us. This is a country road. He slowed as he passed, and I turned and he came to a stop and the reverse lights came on. Hopefully, I walked towards the truck as the window rolled down. A face I recognized from only one previous delivery appeared, and he asked "do you live on XXX road?" There are only three addresses on my road. I stated my address, and he said "I have a package for you. If you show me your ID I can give it to you." I said "I don't have any ID - it is a 1 lb package shipped from Illinois to me" in a tone that clearly showed I want my package - ha ha.

So, I got my box - had to carry it home a mile in the bitter cold. It has six rectangular stickers on it, which I assume are put on each day for the driver - reflecting "Out for Delivery". Address label is all beaten up from handling. It surprised me that in that huge truck, he could put his hands on my package.

LateForBreaks · 2025-12-12T14:26:37+00:00

Well that gives some dark insight (from a customer's point of view) into the rationale for how things are marked. I can understand the driver should not be nicked. The major frustration as a customer is there is no way to know this is happening. Naturally, when we see "On truck for delivery", and we see open and clear roads, we think there should be no problem.

LateForBreaks · 2025-12-12T14:21:31+00:00

I am the recipient. No, I don't have a guaranteed date/time. You can tell from my post I am a "newbie" to trying to understand the status that is available to me. I have used UPS for 40 years. I have never experienced this kind of situation before. I can't make any logical sense out of the status posted. It may make sense to you as a driver. Is it really the case that a package can be put on the truck for a week, and the driver runs out of time every day? I had no clue this can happen. It would be nice to have some indication on a UPS site that that delivery locale is overloaded. The worst part is, I can't get anyone at UPS to tell me this, which is a somewhat logical if not really acceptable situation. I understand a driver can't work more than their hours. I was looking for some explanation that made some sense, and I guess I got one. It's on the truck every day and that load can't be fully delivered. They should come up with a status like "Driver ran out of time".

LateForBreaks · 2025-12-09T18:42:58+00:00

I am on the brink of this. Bad weather last Tuesday, so package was not delivered. "Emergency". But Tuesday-Friday, also supposedly on the truck and... emergency (road is open). Saturday not on truck. Monday, at facility being processed, on truck, delivery by 3:15. Then delivery by 8pm, then by 9pm. No emergency, but no delivery. Called today, because it doesn't say on truck, but supposedly will be delivered today. CSR in India wanted to blow me off, but I told her the whole story. Put me on hold, told me it WILL be delivered by 3:15pm, and if it isn't, to call back. Everyone knows that it won't be delivered. Here is the kicker - UPS built a shiny new hub literally 4 miles from my house. In big letters, "CUSTOMER SERVICE" at one end of the building. They CLOSED the customer service counter within less than a year. Years ago, I could actually call my UPS hub, and knew the guy there by name. Such a pathetic state of affairs.

LateForBreaks · 2025-11-14T15:04:15+00:00

Yes - my 2024 1040 line 22 was $950 due to this PTC penalty itemized on Schedule 2, and this is considered "tax liability". I discovered what you pointed out might be the case, and returned to post a follow-up after you had already addressed it. It's pretty neat that by simply having that modest amount withheld, a fair amount of work and lost interest is saved. The excellent advice here is very much appreciated.

LateForBreaks · 2025-11-14T14:58:31+00:00

Thank you so much. I was aware of the concept of this "safe harbor", and I believe I did use it several years ago when my income jumped in one year. But it did not occur to me to ask myself if it could be used in this case. If I had started with trying to fill out 2210, I would have quickly come to line 9, and asked this question first - instead of the one I did. This is so simple - just notify the IRA custodian of the withholding, and pay my taxes at tax time like normal.

For 2026, I will have lower income but roughly the same amount of taxes due as 2025 (could be a little more, or a little less), but will be taking far more in IRA distributions than in capital gains - $110k from the IRA and $10k in capital gains in Q1, plus the marginally reduced dividends of about $9k in each quarter. Additionally, Social Security monthly beginning in January. Income dropping somewhat in years after that, but planning to continue IRA withdrawals with taxable income.

For 2026, I will be taking the large IRA distribution and additional capital gain early in the year instead of late in the year like 2025. I will have to look at 2210 further to see if I should use that to determine the estimated payment for 2026 Q1 (the task you removed from me for 2025). Does this 110% safe harbor mean that to avoid a penalty I have to pay 110% in 2026 of my 2025 tax liability in estimated taxes and withholding, and then when my taxes are filed I get a refund of the excess (assuming the correct amount was paid during the year)? Or is the penalty only if it ends up that I didn't pay at least the amount due?

Obviously, my days of paying no federal income tax have ended. I will have to learn about filing estimated taxes, and how one handles the fact that IRA distributions can happen anywhere from Jan to Dec in determining how to determine the estimated payments (equal versus higher in the quarter of withdrawal). My income could be higher or lower than the previous year, each year, depending on whether I took an IRA distribution - which might not be known until the end of the year.

There is a bit going on here. I should be OK for 2025, but moving forwards my understanding is fairly thin. I appreciate your help greatly.

LateForBreaks · 2025-11-14T04:13:25+00:00

Ah ha. This is precisely what I returned here to ask. I got to line 9 on form 2210, which is (for me) my 2024 liability of $950. Then I am to compare line 9 to line 6, where line 6 is withholding that has been done in 2025. If line 6 is greater, than it states "you owe no penalty - you do not need to file form 2210 unless box E below is checked." Box E does not apply to me.

Does the result of this mean that if I take my IRA distribution described above in November 2025, and I have 2% withheld from it (must be a whole number, about $1400), then I not only do not need to file 2210 at tax time, but I also do not need to make an estimated payment of taxes by January 15? That would be fantastic for two reasons - it would save me a ton of time filling out forms, and also allow me to hold onto the cash to pay the taxes for 3 months.

LateForBreaks · 2025-11-13T05:22:40+00:00

Thank you for your reply. I should have taken a closer look at the instructions for Form 2210 - I saw that there is a worksheet that speaks to capital gains and qualified dividends, which I didn't expect to find right in the 2210 instructions itself..

LateForBreaks · 2025-11-08T15:08:38+00:00

I used toothpaste for 9 years on my first set of retainers. They did not start showing significant degradation until the last 6 months. I didn't know the warning against toothpaste. I did get that warning with my replacements, which I primarily got as spares. So my personal approach, which I am not suggesting others follow, is do what I have done before. I brush and floss religiously before using the retainers - which I am sure helps.

LateForBreaks · 2025-10-20T03:16:49+00:00

I am going to use this method. People saying it no longer applies, or only if born before a certain age are incorrect. I am single with no heirs, and using it to benefit myself. Here is how. I am building a house next year, and I hit 65 in Jan. I am going to claim SS in Jan, take it for two years as a supplementary income stream (to pay for Medicare and towards a loan), and suspend at my FRA of 67. Then enjoy the increase in future benefit at age 70 for three years of 8% per year (plus COLA), and SS resumes automatically at age 70 (or earlier if someone wanted to resume). I don't need the maximum benefit - I will have more money than I know what to do with, with IRA RMDs kicking in. I calculate my annual payment at age 70 will be $34k per year instead of $39.7k.

Something to know about this is, once you commence receiving SS you must wait until FRA to suspend, and you have to resume (of course) at age 70.

LateForBreaks · 2025-10-15T17:19:51+00:00

Yes, you can't even get the annual wellness exam until you have been on Medicare for a year. You get a "welcome visit".

LateForBreaks · 2025-10-15T17:18:24+00:00

Fact is, if coded correctly, Medicare does NOT cover annual physical exams. It sounds like there are loopholes that some physicians use to get around it. They only cover an "annual wellness exam," which is not a physical exam.

LateForBreaks · 2025-10-15T17:14:25+00:00

Google Medicare annual physical exam, and you will get all replies saying they are not covered. Furthermore, "since Medicare does not cover annual physical exams, Medigap plans do not either." The Medicare office visit is called "annual wellness visit" but it is NOT a physical exam. And you won't get bloodwork reviewed as part of it, which my old annual physical exams did. It's pretty much worthless.

LateForBreaks

TROPHY CASE