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  • Getting taxes done

    From -hh@recscuba_google@huntzinger.com to comp.sys.mac.advocacy on Wed Mar 20 20:49:09 2024
    From Newsgroup: comp.sys.mac.advocacy

    Was wondering though if anyone's familiar with the provisions of the
    Net Investment Income Tax (NIIT): its a +3.8% addition from the
    American Care Act ("Obamacare") that hits earned interest, dividends and
    LTCG once one's "MAGI" earnings exceed a certain value.

    Just one more variable for contemplation of strategies when undergoing optimization of income vs taxes.

    And for Mac content...

    It is that using one's spreadsheet App is helpful to build up personal
    ledger (in free form) to help keep relevant entries sufficiently
    organized, and focus on personal priories. I've found it useful to
    build out what's effectively an annual checklist so that one doesn't
    overlook reportable items. Doesn't matter if they're individual
    accounts, or items reported on various forms that shouldn't be forgotten
    for various tax credits (eg, foreign taxes paid, etc).


    -hh

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