- Taxes - 6 Updates
| rbowman <bowman@montana.com>: Mar 17 08:41PM -0600 On 03/17/2020 03:20 PM, ItsJoan NotJoann wrote: >>> Affected by gov't shutdown? >> https://nypost.com/2020/03/17/irs-gives-americans-3-month-break-for-filing-taxes/ > Too late. Taxes have already been filed and refund was received 6 days later. Good for you. Filed and a hefty check sent to both the Feds and state. |
| ItsJoan NotJoann <itsjoannotjoann@webtv.net>: Mar 17 07:46PM -0700 On Tuesday, March 17, 2020 at 9:40:32 PM UTC-5, rbowman wrote: > On 03/17/2020 03:20 PM, ItsJoan NotJoann wrote: > > Too late. Taxes have already been filed and refund was received 6 days later. > Good for you. Filed and a hefty check sent to both the Feds and state. No state income tax here and the IRS refund was used to pay 8 car notes. |
| rbowman <bowman@montana.com>: Mar 17 10:54PM -0600 On 03/17/2020 08:46 PM, ItsJoan NotJoann wrote: >>> Too late. Taxes have already been filed and refund was received 6 days later. >> Good for you. Filed and a hefty check sent to both the Feds and state. > No state income tax here and the IRS refund was used to pay 8 car notes. It's days like that when I wish I still lived in New Hampster. Not only does this state have an income tax they also tax you SSI. They will withhold Federal tax from SSI and RMD but not state. I gotta retire one of these days. |
| ItsJoan NotJoann <itsjoannotjoann@webtv.net>: Mar 18 03:32PM -0700 On Tuesday, March 17, 2020 at 11:54:27 PM UTC-5, rbowman wrote: > does this state have an income tax they also tax you SSI. They will > withhold Federal tax from SSI and RMD but not state. I gotta retire one > of these days. No tax here on SS either. What's RMD? |
| The Real Bev <bashley101@gmail.com>: Mar 18 05:01PM -0700 On 03/18/2020 03:32 PM, ItsJoan NotJoann wrote: >> withhold Federal tax from SSI and RMD but not state. I gotta retire one >> of these days. > No tax here on SS either. What's RMD? Required Minimum Distribution. The feds decide how long you're likely to live and make you take out a certain MINIMUM amount from your IRA/401k each year so that by the time you're dead the money will all have been taxed and gone. If you live longer than that I guess you're just SOL. Chickenshit if you ask me. Roth IRAs are different -- you put in money that's been taxed, but you pay no taxes when you take it out. OTOH, $6K/year is a piddling amount to save toward retirement so you better invest it in something with a BIG payoff. -- Cheers, Bev Children, your performance was miserable. Your parents will all receive phone calls instructing them to love you less. |
| ItsJoan NotJoann <itsjoannotjoann@webtv.net>: Mar 18 05:55PM -0700 On Wednesday, March 18, 2020 at 7:01:35 PM UTC-5, The Real Bev wrote: > IRA/401k each year so that by the time you're dead the money will all > have been taxed and gone. If you live longer than that I guess you're > just SOL. Oh ok. I'm drawing from my 401k and pension which was rolled over into an investment account. My financial adviser figured out how much I receive and how much the IRS gets each month. > Chickenshit if you ask me. True. > to save toward retirement so you better invest it in something with a > BIG payoff. > Cheers, Bev Yeah, I invested in my 401k for 20+ years and the company put money into my pension from the first day I started work there a couple hundred years ago. Well, it seemed like I worked there for a couple hundred years. 😉 |
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