Dodge And Cox Login 1 Questions To Ask At Dodge And Cox Login
I apprehend there apparently won’t be a cost-of-living access to Social Aegis in 2010, but I apperceive that health-care costs are rising. Could my Social Aegis payments abatement abutting year because of accretion Medicare premiums?–Edwina Beard, Hattiesburg, Miss.
Yes, there is a adventitious that Social Aegis payments could compress for some bodies abutting year. That’s a aftereffect of a bifold whammy: First, the Congressional Budget Office projects that because of the contempo abatement in customer prices and accepted low aggrandizement in the abutting few years, there may not be accession cost-of-living access in Social Aegis allowances until 2013.
Second, health-care costs abide to rise, and Medicare Allotment B premiums are accepted to go up. Because those premiums are usually deducted from Social Aegis payments, some bodies will see their checks abatement abutting year.
The cut will affect about division of retirees: anew signed-up Medicare beneficiaries and higher-income beneficiaries. Most retirees, however, are adequate by the “hold harmless” provision, which prohibits Allotment B premiums from ascent in any one year by added than that year’s cost-of-living access in benefits. With no bang up in benefits, Allotment B premiums are frozen.
People who are covered by the hold-harmless accouterment will abide to pay Allotment B premiums of $96.40 per ages in 2010. If the Social Aegis cost-of-living acclimation does not acceleration until 2013, as predicted, the CBO estimates that bodies who pay the abounding Allotment B exceptional will owe $119 per ages in 2010, $123 in 2011 and $128 in 2012.
The hold-harmless accouterment does not administer to Medicare beneficiaries who pay an income-related exceptional surcharge. In 2009, the customs activated to individuals who had a adapted adapted gross assets of added than $85,000 and to affiliated couples with a adapted AGI of $170,000 or more. Those advantageous individuals — about 5% of Medicare beneficiaries — will accept to pay the income-based customs abutting year, in accession to the added abject premium.
If your assets has collapsed back 2008 (the 2010 customs will be based on assets appear on your 2008 tax return), battling the exceptional customs could pay off. You’re accustomed to challenge the exceptional access if you’ve had a life-changing event, which includes marriage, divorce, job loss, bargain assignment hours, accident of assets from income-producing acreage or cuts in alimony benefits. (For example, contempo retirees accept a acceptable attempt at blurred their premiums.) For added information, see the Medicare Allotment B pre-miums actuality area in the Medicare area of www.socialsecurity.gov.
We accept a son starting academy this fall, and he needs a vehicle. Are there any tax (or other) incentives we can annual from?–Rick Lay, San Antonio
In accession to endless of manufacturers’ incentives additional fire-sale prices at abounding car dealers, you can booty advantage of a acting tax breach for new-car buyers who acquirement a agent amid February 17 and December 31, 2009. You can address off accompaniment and bounded sales taxes and customs taxes paid on up to $49,500 of the amount of a new car, ablaze truck, motor home or motorcycle.
The deduction, allotment of the economic-stimulus legislation anesthetized in February, does not administer to used-car purchases or to leases. And it phases out for aerial earners — distinct taxpayers with an adapted gross assets amid $125,000 and $135,000, and affiliated couples filing a collective acknowledgment with an AGI amid $250,000 and $260,000. If your AGI is center through the phase-out range, for example, your answer would be cut in half.
You can affirmation the answer on your 2009 tax acknowledgment behindhand of whether you catalog or affirmation the accepted deduction. However, if you catalog and abstract accompaniment sales taxes rather than accompaniment assets taxes (because you alive in a accompaniment that doesn’t accept an assets tax, for example), this breach has no amount for you. You already get to abstract the sales tax on cars (even if you buy a acclimated one).
Car buyers who alive in a accompaniment that doesn’t accept a sales tax — such as Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon — but who pay a collapsed fee on the acquirement of a agent or a fee based on the amount paid, can abstract the fee, accountable to the aforementioned assets and purchase-date restrictions that administer to the sales-tax write-off.
If you’re trading in a vehicle, you could be acceptable for a agenda to advice you buy a added fuel-efficient car through the “cash for clunkers” program. For added information, see Don’t Count on Cash for Clunkers.
A few years ago, with Dodge & Cox Stock armamentarium (symbol DODGX) bankrupt to new investors, I opened an annual with Dodge & Cox Balanced (DODBX). Now I’m under-water with Balanced, and Stock has reopened. Can I advertise Balanced and use the gain to accessible abstracted accounts with Stock and Dodge & Cox Assets armamentarium (DODIX) afterwards active afield of the IRS’s wash-sale rule?–Mike Jaixen, Omaha
Go for it. The wash-sale aphorism comes into comedy if you advertise a aegis and, aural 30 canicule afore or afterwards the sale, buy a “substantially identical” security. If you breach that rule, you can’t abstract the accident on the aboriginal sale.
The IRS has never authentic “substantially identical,” so there is a bit of assumption involved. But in our judgment, replacing Dodge & Cox Balanced with a aggregate of Stock and Assets will not put you at allowance with the wash-sale rule, alike if the end artefact comes clumsily abutting to replicating the aboriginal fund.
My acknowledgment to Manny Schiffres for his advice this month.
Got a question? Ask Kim at kiplinger.com/askkim, or address Ask Kim, 1729 H Street, N.W., Washington, DC 20006. Kimberly Lankford is the columnist of Ask Kim for Money Smart Solutions (Kaplan, $18.95).
Dodge And Cox Login 1 Questions To Ask At Dodge And Cox Login – dodge and cox login
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