Things I'm happy about today

#10,926
#10,926
theFallGuy said:
Yes no but income tax. Dont know if NC does
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NC has a 5.25% income tax. I’m still pretty frosty about this, but it uses the MAGI numbers (with a few quirks) from your federal tax and has some (not many) additional exemptions. I’m happily 3 time zones away from my paperwork at the moment, so no further deets.

Many people come under the income limit for this, plus they don’t tax NC municipal bonds or US bonds.

We generally wind up paying $0 federal tax plus maybe $150-200 state tax, so before all the hand-wringing, it might be useful to run the numbers first. <- I did a lot of structuring of our investments to make this happen. This is without any weirdo tax evasion strategies; just conservative and common-sense stuff, like Vanguard Total US Stocks Index Fund etc that doesn’t throw off taxable income.
 
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#10,929
#10,929
VolNExile said:
NC has a 5.25% income tax. I’m still pretty frosty about this, but it uses the MAGI numbers (with a few quirks) from your federal tax and has some (not many) additional exemptions. I’m happily 3 time zones away from my paperwork at the moment, so no further deets.

Many people come under the income limit for this, plus they don’t tax NC municipal bonds or US bonds.

We generally wind up paying $0 federal tax plus maybe $150-200 state tax, so before all the hand-wringing, it might be useful to run the numbers first. <- I did a lot of structuring of our investments to make this happen. This is without any weirdo tax evasion strategies; just conservative and common-sense stuff, like Vanguard Total US Stocks Index Fund etc that doesn’t throw off taxable income.
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Jeff, its that you?
 
#10,944
#10,944
We have a new Boss, she came on night shift last night. I've spoken to her before, even outside of here., she's pretty nice. Anyway, she busted me, caught me mopping up a mess that wasn't mine, and thought it was awesome 😁. Brownie points!🤣
 
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