^^ Excellent plan.

 

SS income is taxed when you have other retirement income.
http://www.irs.gov/uac/Are-Your-Soci...its-Taxable%3F


The Social Security benefits you received in 2010 may be taxable. You should receive a Form SSA-1099 which will show the total amount of your benefits. The information provided on this statement along with the following seven facts from the IRS will help you determine whether or not your benefits are taxable.

1. How much – if any – of your Social Security benefits are taxable depends on your total income and marital status.
2. Generally, if Social Security benefits were your only income for 2010, your benefits are not taxable and you probably do not need to file a federal income tax return.
3. If you received income from other sources, your benefits will not be taxed unless your modified adjusted gross income is more than the base amount for your filing status.
4. Your taxable benefits and modified adjusted gross income are figured on a worksheet in the Form 1040A or Form 1040 Instruction booklet.
5. You can do the following quick computation to determine whether some of your benefits may be taxable:
   • First, add one-half of the total Social Security benefits you received to all your other income, including any tax exempt interest and other exclusions from income.
   • Then, compare this total to the base amount for your filing status. If the total is more than your base amount, some of your benefits may be taxable.
6. The 2010 base amounts are:
   • $32,000 for married couples filing jointly.
   • $25,000 for single, head of household, qualifying widow/widower with a dependent child, or married individuals filing separately who did not live with their spouses at any time during the year.
   • $0 for married persons filing separately who lived together during the year.

 

Whats all this refund business, i owe the government over 1300$ and i cant even afford to fill up my gas tank right now. so this is gonna be a fun next few months....

 

Key to big tax refunds?? Just say no to birth control.

 

Kids are grown, can't take grandkids as deductions, and sold the farm 15 years ago.......Gotta find SOME deductions somehow.....

 

Just ordered a 3 inch lift and shocks with mine should be here soon hopefully

 

yup, got 2! didnt work much this year, but the wife did, so we got just under 8k.

 

If you owe over $1300 you need to look at your exemptions or something. That's crazy, unless you're bringing in some dough or something.


Guy I worked with at Walmart in Ga has a few rental properties, he usually has to pay around $4k to the IRS each year...

 

You didn't receive a refund. You received welfare.

 

didnt receive welfare, received a refund. im not on welfare, dont go there with me. i was on unemployment from april til january.

i didnt vote for that queer that lives at 1600 penn. i want him out of there just as much as everyone else.