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Off Topic Off Topic - General non-Corvette related discussion. |
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02-04-2024, 10:50pm | #21 | |||||||
Barn Stall Owner #112
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02-04-2024, 11:25pm | #22 | |||||||
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I let my SEP-IRA continue to compound, tax free, until my first RMD kicked in on January 2022. I have 1/12 of my RMD taken out of my SEP each month (I'm at Schwab). If I need some of it I take it, the rest gets re-invested in my taxable account. My SEP continues to compound tax free. |
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02-05-2024, 12:24am | #23 | |||||||
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02-05-2024, 7:36am | #24 | ||||||
Barn Stall Owner #112
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02-05-2024, 8:18am | #25 | ||||||
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02-05-2024, 8:23am | #26 | ||||||
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Roth is the way to go since you are young - you pay the taxes up front. But a great accountant will help you take care of all that.
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02-05-2024, 8:36am | #27 | ||||||
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02-05-2024, 10:54am | #28 | |||||||
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Again, I've gone over the fee structure and their compensation comes in the form of an annual commission, no fees to me. That was part of the decision. |
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02-05-2024, 12:45pm | #29 | ||||||
Barn Stall Owner #112
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02-05-2024, 4:35pm | #30 | ||||||
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I always took care of my own money. And let the tax man pay me. I never understood why others give their money to strangers and hope for the best. Then pay capital gains if they are lucky enough to make anything.
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02-05-2024, 4:39pm | #31 | ||||||
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02-05-2024, 9:26pm | #32 | |||||||
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I don't practice medicine on myself for the same reason. I have done very well enlisting the help of trained professionals, I'm guessing many here have. But if you have the knowledge good for you, I know my shortcomings and are smart enough to as for help. |
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02-05-2024, 10:00pm | #33 | |||||||
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I always get someone else to do my taxes as they are always changing the laws. But as far as investments I learned from ones that lived through the depression. So if I can't hold it or stand on it I'm not buying it. And if the government will give you up to a half million dollars every two years capital gains free. Why would you let someone else use your money at your risk? |
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02-05-2024, 10:25pm | #34 | ||||||
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I never thought make six figures I would not have enough deductions to meet the standard deductions. But a retirement and a regular job has done that.
I owe this year.. again. But, after being told that I figured out what to do.. just put extra away till I need to pay next year. The longer Uncle Sammy cant use it the better. |
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02-19-2024, 5:37pm | #35 | ||||||
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Sep-IRA, max it out.
Vacation property in a good place, buy an expensive one and rent it out. Take the depreciation and other deductions, watch values grow while the giverment helps you pay for it. Sell it later in life, or better yet, live off rental income. Not sure what your business is, or how many employees you have....a personal assistant does wonders for a guy. One who is crazy orgranized, smart and pleasant. Take some of the load off things and get a better quality of life. you ca get a good one for about 80k all in. |
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02-19-2024, 7:10pm | #36 | ||||||
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Right on time...
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02-19-2024, 11:14pm | #37 | ||||||
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02-19-2024, 11:14pm | #38 | ||||||
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02-19-2024, 11:15pm | #39 | ||||||
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We needed a topic other than new balance, colonoscopy and Joe Biden
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02-19-2024, 11:37pm | #40 | ||||||
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Real estate
Hire a guy Don't be cheap |
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