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Thanks, Ted. Your example fits my situation to a tee. Besides maximizing 401k contributions and maybe itemizing, what other ways can one minimize taxable income to lessen the tax hit on withdrawals?

Nice video. I like the stack up graph with different columns together. I construct a similar graph like yours using excel by adding more columns like state tax brackets, IRMAA zones, and possible NIIT threshold. And then put various incomes in each column to form steps. Now I can see clearly where my total income falls. With excel, one can compute numbers in different cells with different colors, and it is easy to be edited. Not like power point, you have to draw the boxes/lines and write numbers (after calculation). Thanks for your work.

Beautifully explained.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

The big thing you missed in this video is the fact that taxes on Social Security should be illegal in the first place. Double taxation is illegal and that is exactly what is happening. SS recipients have already paid taxes on the wages when they were working and now when retirees desperately need this income the most to live the government gives them the shaft! Retirement may become a problem for Americans

Stay away from 401k and IRAs they bite you in the butt and you are forced to take a RMD which pushes into a higher IRMAA.

Nicely explained

Your update is impressive, and I'm searching for a tax-efficient method to rebalance my seven-figure dividend portfolio without incurring capital gains tax. Which asset allocation techniques ought I to employ?

Abolish the IRS. Nobody wants you to be rich.

Social Security should not be taxed. We’ve already been taxed to death.

When will federal taxes be eliminated?

Absolutely amazing video on ordering principles and how LTCG is blending on top of ordinary income!!!

Very helpful, thanks!

Fidelity cannot handle QCds, because they report it as taxable income and you are forced to explain it on your tax return.

I get a pension which SSA states is not to be considered income. I turned 66 in 2023 and drew 1264.00 in SS for that year. I noticed on my taxes that the pension was put down as income in box 4b and resulted in 15% of my pension being taxed. If the pension was not considered income than that percent s/b zero. Did my tax person do this wrong?

A very complicated concept of cap gains and stacking order explained very well and i learnt this video. I admire the clarity with examples. I have subscribed and will look for more such knowledge bits from you.

Appreciate you breaking down this complex topic into digestible and actionable items. Thank you!

Didn’t we already pay taxes on the on our income when we earned it? Why are we getting taxed on SS after we retire?

Great video. Something that was not mentioned is that the tax rate on realized investments is on the GAINS not on the capital invested

Why don’t you use an example for single people? Every video is for married. It’s not 1956. How many couples even make it this far?

What about those of us working and getting SS? The example you used is below poverty level of course they won’t pay taxes.

Are they kidding with these torpedo zone amounts! They make it complicated so we won’t know how much the government is screwing us! I’ve already paid taxes on my SS!

Great explanation! Thanks

I got hit bad with 2023 capital gains tax rates. I’m on Social Security. Had held a house for over 20 years as a rental. Could no longer care for it. Sold it. Great. I paid the taxes. Then Social Security in 2025 cut my payment $300 a month because of 2023 taxes. That really hurts as that is my only income now.

No. But your capital gains can get pushed into a higher bracket.

Trump is too damn ignorant to do anything that’s legal other than Steele top-secret documents. And a felon with 34 counts predator allegedly

Can you show how a short-term capital gains works?

Thanks a lot. You did an excellent job explaining how to enter QCD. Thanks, Thanks.

I thought the limit is 32,000 for household...so if you live alone it is 32,000 limit

This video was tremendously helpful - thank you!

I want to know what my deceased spouse's total benefit was. I only get 1/3 of his SS bc I worked at a county hospital and get a small pension.

Very comprehensive, thanks! I appreciate you included the “single” numbers in the grids, too.

I see these examples a lot - but something no one ever clarifies: to get the $120k in capital gains, some of what they pulled out was likely also cost basis, correct? So someone may pull out $200k from their taxable account, of which $120k is capital gain, and $80k is cost basis. Since that cost basis was already taxed, this does not get reported on your tax return, only the capital gain. So they didn't just get $10k per month, but $16.6k per month. Is this correct or am I missing something?

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When annuities and RMD considered, the Long Term Capital Gains tax benefit quickly diminishes. If people don't have stocks, how to create long term capital gains if only IRA/Roth IRA accounts are available?

Check this out to better understand how capital gains impact the taxation of Social Security: th-cam.com/video/X2K9E4tKrfQ/w-d-xo.htmlsi=GNAWq6dQRuopPKIO

should be no taxes it has already been taxed. fed taking money to send to other countries..

No better way to control people is to tax every income we make,retired or not,,our income tax is theft

I am surrendering a universal life insurance policy. They have told me what my taxable portion is. My question is do I make a withholding as I receive it, pay quarterly installments, or can I just pay at the time of my yearly tax return? what forms need to be filed?

I told my spouse to do this. Thank you for confirming this strategy. The fun part is to figure out how/when to do the RMD so it is there to supplement the lost income - maybe us a separate high yield savings and have the money transferred on a schedule.

Ted, you have a real gift for teaching. That was the clearest, most concise explanation I've ever seen on this topic.

Great video. I'm in the midst of trying to spend the money I saved for retirement (definitely a first world problem) and I now understand NITT, unfortunately...

Based on these 2 choices for a tax strategy, which would you lean towards as your first choice. A significant LTCG at zero tax rate or a Roth conversion staying within the 12% bracket?

What if you have a pension and a 403B that you withdraw from but you already pay the taxes on those withdrawals before you get the payment? Does that still put you in the situation of paying taxes on your Social Security? Or do you just count the net payment as income?

Since Warren & Susie are 65 shouldn't you 1040-SR (for seniors), which would increase their standard deduction? Doesn't change your message but I recently learned of the SR form and thought it worth sharing. Thanks

Pa does not tax social security.

Thank you very much for your useful video. Can you please tell me the working for $100000 as capital gains and $50000 as other income. Once again thank you very much