ken_sylvania wrote:temporal1 wrote: That's nice of you Josh. I suspect if Temp made $200k+ like you do she might not be bothered so much about the cost associated with her health care coverage.
if i had 1 year like that, i could save enough, possibly, to stretch through my remaining years, if no big complications. i will not hold my breath on that.
![Mr. Green :mrgreen:](./images/smilies/icon_mrgreen.gif)
Well, maybe - keep in mind though that Uncle Sam loves people like that. He keeps very close, always has his hand in their pockets.
![Laughing :lol:](./images/smilies/icon_lol.gif)
so very true. i was thinking of this as i was dreaming of possibilities. taxes!
Income Averaging
https://budgeting.thenest.com/can-avera ... 21906.html
you made me recall a former tax law that was a good one, in my view.
for some years, IRS allowed Income Averaging to help folks with “windfall” type incomes.
at the time, ANYONE who had an unusually high income in any given year could “average” the windfall (over 3 years, if my memory serves). it softened the blow, PLUS, helped keep taxpayers from jumping into a higher tax rate, for that one year.
i remember it, ‘cause, it was eliminated when we sold a lot, 1980’s, for $40,000.
after we paid 10% real estate commission, and 25% federal income taxes, we felt put-upon, knowing Income Averaging would have helped.
from my quick search, it appears, a form of Income Averaging is now offered to
some filers, but not all.
Robert may want to take a look at it, to help with his 2019 MN income windfall.
![Laughing :lol:](./images/smilies/icon_lol.gif)