Author Topic: Social Security COLA  (Read 355 times)

Rastus

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Re: Social Security COLA
« Reply #10 on: November 21, 2020, 10:43:53 PM »
Fixed it for you!!!

There's this tricky provision that says if you save your money and don't piss it off invested it wisely we'll double your cost of Part B and charge you for Part D.  IMSAA I think it's called.  <snip>
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alfsauve

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Re: Social Security COLA
« Reply #11 on: November 22, 2020, 07:49:53 AM »
Tax exempt income.

State and municipal bonds are tax free to encourage people to buy them.  The state is able to borrow money at lower rates to build schools, roads and infrastructure, and you the earn tax free income, albeit at a lower rate than other investments. 

BUT. SSA, when computing your income, adds your tax free income back into your AGI so they can charge you more. They call it Modified Adjusted Gross Income.


This is irony:  At this holiday season the IRS gives you the gift of the MAGI.
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TAB

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Re: Social Security COLA
« Reply #12 on: November 22, 2020, 10:11:48 PM »
2 things in life are constant.


Death and taxes.
I always break all the clay pigeons,  some times its even with lead.

tombogan03884

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Re: Social Security COLA
« Reply #13 on: November 23, 2020, 08:31:47 AM »
TAB, it's 3, you left out Hydrogen.    ;D
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Big Frank

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Re: Social Security COLA
« Reply #14 on: December 14, 2020, 08:43:18 PM »
TAB, it's 3, you left out Hydrogen.    ;D

Ain't that a gas. ;D

With the 1.3% COLA increase I'll be clearing an extra $24 a month, or $288 per year. That's 2 months principal payments on my ATV, and I only have to come up with the interest which would be under $40 for 2 months.
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Re: Social Security COLA
« Reply #15 on: Today at 06:39:50 AM »

 

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