An unusually high marginal tax rate isn’t a problem. You’re rewarded with paying lower taxes. You live on after-tax dollars, not rates.
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You can name only one beneficiary on a savings bond. If you’d like to name two or more beneficiaries, you have to split your bond into multiple parts.
You don’t have to be precise when you have a large margin of safety. It reduces stress and it makes your solution more robust against adverse conditions.
It’s possible to cash out I Bonds tax free for college expenses or transfer to a 529 plan but you must meet an income limit and some other requirements.
Consider investing in TIPS for inflation protection after maxing out I Bonds. They have no purchase limit, and you can invest through a mutual fund or ETF.
Treasuries pay a higher yield and are easier to buy than CDs right now. Here’s how to buy them without fee at Fidelity, Vanguard, and Charles Schwab.
TurboTax and H&R Block charge $25 to e-file a state tax return. Follow these links to e-file for free directly on your state revenue agency’s website.
I tested TurboTax, H&R Block, FreeTaxUSA, and OLT on doing a Form 1116 for the foreign tax credit. Four software packages gave three different answers.
Holding international stock funds in a taxable account gives you foreign tax credit, but claiming it on IRS Form 1116 has become too much hassle.
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.