I had a high efficiency furnace installed this year. It qualifies for a $600 Federal tax credit. My only income was Social Security and interest income i made. I still have no tax due. Can I still get the $600 dollar tax credit?
I started working as a self-employed contractor in December and made a $1000 initial funding for 2024 as an employee. I realize that the client pays me in January for my December’s work, so my business income is $0 and I’m not eligible to make any contributions for 2024, and thus I over-contributed to my Solo 401k by…
As a retired person, I receive social security, and 2 VA pensions. I was in the service for 8 years & in the Korean war? Are veterans taxes on their pensions?
Roth IRA income limitations
Hello, wondering if matching contribution my employer makes via a Thrift Savings plan are considered as part of my total contributions to Roth IRA in the tax year?
how to reduce the tax impact of ira rmd's?
I am retired and withdrew $50,000 in Jan 2024 on my IRA account and withheld $3,000 from 2023 IRS refund as estimate tax. I delayed my SS benefit and my spouse is on SS benefit. My estimate federal tax is around $3,700 based on our current income (married join filing) of $67,000. I plan to withdraw another $30,000 (lowest…
This year we liquidated a non-qual annuity in order to get better returns elsewhere. The company sent a check covered the entire amount less 10% FITW, and stated in the accompanying letter that the entire amount was taxable. The annuity was purchased with after-tax dollars (non-qual) so should have a cost basis associated…
I am 66. Do I need to file taxes? No W-2's. Only 1099's. Also, get SS benefits.
I plan on retiring early and potentially pulling contributions from my roth IRA before the 59 1/2 year mark, since those can be distributed without the penalty. Besides the obvious contributions (directly adding cash from personal funds), does anything else count as a contribution? For example, when rolling over from roth…
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