From -hh@21:1/5 to All on Wed Mar 20 20:49:09 2024
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).