On 4/18/2021 9:48 AM, Ralph Mowery wrote:
In article ,
lid says...

Ideally, you'd want to come out as close to even as possible at tax time.
Whether you owe them or they owe you, the amount should be as small as
possible and everyone is happy, most notably the IRS.




I try to adjust my tax so I come out abut even. This year I did a fair
job in getting back about $ 650 from the feds and had to pay about $ 550
to the state.

I never did like to get much back from the feds. Being retired I don't
want to get into the problem of sending them quartly tax money so I have
some taken out every month from the pension money and a lump sum taken
out of the IRA money I take out.


I have not messed with the CD's in around 20 years. There is no profit
in those any more. I would rather take my chances with the mutual funds
in the IRA. I keep what I think I may want to spend for a year or so in
a money market account so if the stock market goes down for a year it
does not make much difference.

Starting next year I will have to take the RMD and it will be more than
I want to spend. Not too sure what to do with the excess money. Guess
I will look into the mutual funds and pick one to put the money in.

I do play around with the stock market with about 5 % of the money I
have just for the fun of it. So far I have been doing well with it by
concnetrating on just a couple of stocks that go up and down about every
day. I probably average buying and selling those couple of stocks about
once a week. Made enough last year to build a carport garage I had been
looking into for a few years.


I had a pleasant surprise this year getting nearly $500 back from both
federal and state. Usually I have to pay the feds a few bucks and get a
little bit back from the state. What did it was not having to take the
RMD for 2020.