Hello. Good video. However, your Guidestone 1040 calculator only has a IRA deduction slot but no 401k, 457b, etc deduction slot. Am I missing something?
Great video, Zach! You do a great service in covering tax topics in an easy to understand manner. Very useful. I plan to use the 0% LTCG rate in early retirement.
Thank you! I really want these tax strategies to be more apparent to everyday people! We all can do something to control our taxes with a little bit of insight!
Can you talk in a video more on qualified vs non-qualified dividends. Are index funds generated dividends in taxable brokerage accounts treated qualified (or) non-qualified dividends?
These videos that I made in the past should answer those questions :) ruclips.net/video/SEAREVxSrQ8/видео.html ruclips.net/video/51Qusolkhus/видео.html
I can’t tell you how happy it makes me to know that at age 55 I’ll be pulling out $50K+ per year of 401K earnings at a 0% tax rate after avoiding 35-40% tax rates on the front end! Thanks to the standard deduction and HSA limits. Then up through the 10% and 12% brackets for Roth conversions after that. I hope we don’t end up with a $5K standard deduction and 90% tax brackets by the time I’m actually 55! 😂
Haha yeah I doubt it but you never know! Even with "90%" tax brackets, there will likely be so many more deductions and credits, it is unlikely for anyone to pay that!
Great video as always. However, I would like some examples about the Holding Period. Additionally, for U.S. veterans that have assets in a taxable non-retirement account who are receiving untaxed compensation from the VA, do they always fall under the 0% tax on their quarterly dividends since they have no income (e.g., those in receipt of TDIU benefits)?
As far as my understanding goes, VA disability is non-taxable, so it shouldn't controbute to taxable income, of which the dividends would fall into. So if total income puts you under the threshold of the 0% tax on LT dividends, then their should be no income tax.
I prioritize my Roth IRA and Roth 403b so that I will have flexibility in retirement. Previously I funded my retirement with pre-tax contributions so I'll be on the hook for those taxes in retirement.
Have a W-2? Check out how you can pay $0 Income Tax In This Video:
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Hello. Good video. However, your Guidestone 1040 calculator only has a IRA deduction slot but no 401k, 457b, etc deduction slot. Am I missing something?
@@ensobasho6633 The workplace retirement plan reduces your taxable income before you receive it, so no slot for it on the calculator.
What a useful video! Don't ever stop teaching us!
Thank you! You're awesome! Kind people like yourself make this "work" fun!
Great video, Zach! You do a great service in covering tax topics in an easy to understand manner. Very useful. I plan to use the 0% LTCG rate in early retirement.
Thank you! I really want these tax strategies to be more apparent to everyday people! We all can do something to control our taxes with a little bit of insight!
Thanks for compiling all this info into one video for us.
Thank you for watching :)
Can you talk in a video more on qualified vs non-qualified dividends. Are index funds generated dividends in taxable brokerage accounts treated qualified (or) non-qualified dividends?
These videos that I made in the past should answer those questions :)
ruclips.net/video/SEAREVxSrQ8/видео.html
ruclips.net/video/51Qusolkhus/видео.html
I can’t tell you how happy it makes me to know that at age 55 I’ll be pulling out $50K+ per year of 401K earnings at a 0% tax rate after avoiding 35-40% tax rates on the front end! Thanks to the standard deduction and HSA limits. Then up through the 10% and 12% brackets for Roth conversions after that.
I hope we don’t end up with a $5K standard deduction and 90% tax brackets by the time I’m actually 55! 😂
Haha yeah I doubt it but you never know! Even with "90%" tax brackets, there will likely be so many more deductions and credits, it is unlikely for anyone to pay that!
Great video as always. However, I would like some examples about the Holding Period.
Additionally, for U.S. veterans that have assets in a taxable non-retirement account who are receiving untaxed compensation from the VA, do they always fall under the 0% tax on their quarterly dividends since they have no income (e.g., those in receipt of TDIU benefits)?
As far as my understanding goes, VA disability is non-taxable, so it shouldn't controbute to taxable income, of which the dividends would fall into. So if total income puts you under the threshold of the 0% tax on LT dividends, then their should be no income tax.
I prioritize my Roth IRA and Roth 403b so that I will have flexibility in retirement. Previously I funded my retirement with pre-tax contributions so I'll be on the hook for those taxes in retirement.
Do you think that you will be in the same (or higher) tax bracket in retirement?
So when I get my retiement pay, which is half my salary, Ill have to pay tax on that too? 😔
Is it a pension? Most likely, yes. But not always.