A Simple Year-End Tax Checklist
The end of the calendar year is quickly approaching, and that means it is time to run through our year-end tax checklist. The simpler the better.
Here are a few important items to review and actions to take.
Debt as a Recession Tool
Shortly after moving back to the US in mid-2021, an extended COVID-19 hangover meant excessive economic angst for large swaths of the population.
People responded to economic woes in a number of ways – some worked extra hours or took on side gigs, others cut back on expenses, perhaps eating out less often or vacationing near home.
We did neither. Instead, I loaded up on debt.
Why I Plan to Start an SEPP
“Isn’t a Roth conversion ladder far superior to an SEPP in every way?”
“You wrote all of this stuff about SEPPs but it is a complete waste of time, everyone should just do a Roth conversion ladder.”
“Thanks for the SEPP Calculator but isn’t a Roth conversion ladder more flexible?”
All good questions / comments, of course. The Roth conversion ladder is a great option to access retirement accounts before age 59.5. But some people will still find that the SEPP is better suited to their wants / needs.
Me, for example.
How Go Curry Cracker Makes Money and How Much
This blog makes a little bit of money which helps to fund our quiet and subdued suburban lifestyle.
Every once in awhile somebody expresses interest in exactly how much we make and how.
Read on, curious one.
The Go Curry Cracker 2023 Taxes
2023 was our second full year back in the US where we were subject to the 3 overlapping tax systems – Federal, State, and ACA.
In theory this could mean that we would have a high tax burden.
But in practice we paid practically zero, with more opportunities to save next year.
IRA Withdrawals Before Age 59.5
At age 59.5, all access restrictions to 401ks and IRAs are removed.
Sometimes people want to retire before then. (Hard to believe, I know.)
But what if most/all of your savings and investments happen to be in a retirement account? Or you prefer to hang on to the investments in your taxable account?
Fortunately there are a few options to tap retirement accounts early and penalty-free.
