The New "What did you do with your Z today" (with off topic replies) XXVIII

eastwest2300 · 02-11-2018, 04:36 PM

rep wisely.

BoneZ · 02-11-2018, 04:53 PM

Quote:

Originally Posted by eastwest2300

rep wisely.

Who me?

Leingod · 02-11-2018, 06:08 PM

Can't complain. $1,300 back on taxes this year. Now to go play video games and drink wine.

Rusty · 02-11-2018, 06:17 PM

Quote:

Originally Posted by Leingod

Can't complain. $1,300 back on taxes this year. Now to go play video games and drink wine.

Lucky you. I may have to pay again.

Last year, I paid $27,000.

Spoiler · 02-11-2018, 06:21 PM

Quote:

Originally Posted by Rusty

Lucky you. I may have to pay again.

Last year, I paid $27,000.

Yes this past year with the higher then usual capital gains may prove to be painful to many... or “”painus” if you will...

Rusty · 02-11-2018, 06:29 PM

Quote:

Originally Posted by Spoiler

Yes this past year with the higher then usual capital gains may prove to be painful to many... or “”painus” if you will...

The year I retired. I moved some money around from a couple of retirement accounts into one. And left some out to pay off some bills. Well............I forgot to pay taxes on the money I left out.

This year. I have some capitol gains that I might have to pay on.

onzedge · 02-11-2018, 06:35 PM

Quote:

Originally Posted by Rusty

The year I retired. I moved some money around from a couple of retirement accounts into one. And left some out to pay off some bills. Well............I forgot to pay taxes on the money I left out.

This year. I have some capitol gains that I might have to pay on.

Leingod · 02-11-2018, 06:35 PM

Quote:

Originally Posted by Rusty

Lucky you. I may have to pay again.

Last year, I paid $27,000.

H... How so much if you don't mind me asking? In my mind, if someone has to pay that much. You have the money to spare. Haha. 27k though... Sheesh

onzedge · 02-11-2018, 06:35 PM

Quote:

Originally Posted by BoneZ

Who me?

Yes, you.

Spoiler · 02-11-2018, 06:49 PM

Quote:

Originally Posted by Rusty

The year I retired. I moved some money around from a couple of retirement accounts into one. And left some out to pay off some bills. Well............I forgot to pay taxes on the money I left out.

This year. I have some capitol gains that I might have to pay on.

Forgot to pay taxes.. LOL... hope you look good in an orange jumpsuit...

Seriously, having just retired this past fall at 57, I’m certainly thinking of what could happen. With an unusually big increase in the stock market, it certainly could appear as huge earnings to accrue on despite it being just on paper at this point.

I do have a guy though that I have been working with for about 20 years now that should allow me to not pay much in taxes ever again... but it has been in planning for years ...

Rusty · 02-11-2018, 06:50 PM

Quote:

Originally Posted by Leingod

H... How so much if you don't mind me asking? In my mind, if someone has to pay that much. You have the money to spare. Haha. 27k though... Sheesh

That was on $140,000. Between the wife and me. We have over one million in a retirement account. My last 15 years. I was putting the max amount into my 401K a year. About $17,000, then for the last 10 years, $23,000. We get a set amount every month for the rest of my life, and my wife's life. Plus social security. Which I will get in a few months.

I've been planning my retirement still 1990.

Spoiler · 02-11-2018, 06:57 PM

Yup... all sounds cool... what is helping me is that the wife is a few years older then me and can take 401k draws without penalty. I cannot for another year and a half...

Rusty · 02-11-2018, 07:02 PM

Quote:

Originally Posted by Spoiler

Forgot to pay taxes.. LOL... hope you look good in an orange jumpsuit...

Seriously, having just retired this past fall at 57, I’m certainly thinking of what could happen. With an unusually big increase in the stock market, it certainly could appear as huge earnings to accrue on despite it being just on paper at this point.

I do have a guy though that I have been working with for about 20 years now that should allow me to not pay much in taxes ever again... but it has been in planning for years ...

We had the money sitting in a money market account. It was just OH...CHIT! when we was told.

Being in Pa. We only have to pay the fed taxes. No state taxes on retirement income. We've looked at other states to move to. We would find advantage in one thing, but lose out on something else.

The big shocker was obomacare. Christ, as that gone up. Before obomacare. I could have gotten a PPO for $500 a month for two. The first year of obomacare was $1,200 a month. Now it's $1,800.

Spoiler · 02-11-2018, 07:12 PM

Curently we are planning a move to FL to escape the state taxes

As far as insurance, I am on Cobra ($500) for 18 mos and then my plan is take another work assignment and get laid off and be on that Cobra for 18 more months.

Legally you can hop Cobras, I checked...

Rusty · 02-11-2018, 07:25 PM

Quote:

Originally Posted by Spoiler

Curently we are planning a move to FL to escape the state taxes

As far as insurance, I am on Cobra ($500) for 18 mos and then my plan is take another work assignment and get laid off and be on that Cobra for 18 more months.

Legally you can hop Cobras, I checked...

Cobra for us was more then obomacare. Seems like the places we like, have state income taxes on retirement income.

02-11-2018, 04:36 PM	#4321 (permalink)
eastwest2300 A True Z Fanatic Join Date: May 2010 Location: South FL Posts: 91,023 Drives: '16QX70/'21 Supra3.0 Rep Power: 2684552	rep wisely. onzedge and Rusty like this. __________________ Infiniti QX70 & Toyota Supra 3.0 Premium

02-11-2018, 06:08 PM	#4323 (permalink)
Leingod A True Z Fanatic Join Date: Mar 2015 Location: Some Place Cold Posts: 16,060 Drives: In Circles Rep Power: 2684397	Can't complain. $1,300 back on taxes this year. Now to go play video games and drink wine. __________________ I AM FLOOF! SOMEBODY FLOOF MY HORN!! ALL HAIL THE FLOOF!!I JUST FLOOFED ON THE FLOOR

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Spoiler A True Z Fanatic Join Date: Jun 2015 Location: Central Florida Age: 65 Posts: 8,409 Drives: 21 Supra -Blk/Red Rep Power: 2684380	Yup... all sounds cool... what is helping me is that the wife is a few years older then me and can take 401k draws without penalty. I cannot for another year and a half...

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Spoiler A True Z Fanatic Join Date: Jun 2015 Location: Central Florida Age: 65 Posts: 8,409 Drives: 21 Supra -Blk/Red Rep Power: 2684380	Curently we are planning a move to FL to escape the state taxes As far as insurance, I am on Cobra ($500) for 18 mos and then my plan is take another work assignment and get laid off and be on that Cobra for 18 more months. Legally you can hop Cobras, I checked...