--- In vpFREE@yahoogroups.com, "VpKing77" wrote:
>
> Could someone explain this to me as I almost 62. If I have $200k to $300K in W-2Gs and still end up losing for the year will my Medicare premium be based on my net income or my income before I take my loss deduction. It seems to me it would cost several thousand more per year. An extra $190 a month. How long does the penalty last?
>
>
>
----------------------------------
I turned 65 this year. I normally play 25c 10-play DDB QQ, so quite a few W2's. Towards end of year, I figured out where I was w/ pensions, SS & gambling income to keep under $170K. I cut back to 3/5 play & left myself about a $6K window or I figure it wudda cost me/wife around $1K more for medicare. I wudda switched from DDB or whatever to stay below that level. What I don't know now is, what effect Obamacare is gonna have on this whole mess. It's definately worth keeping an eye on.
One question someone maybe can help me with...This will be the 1st year, I claim a fair gambling win. I don't have taxes taken out of w2's, so will be paying in several grand. My question...will I get stuck for penalty for not having enuff withheld? Got a new tax guy & haven't been there yet.
| Reply via web post | Reply to sender | Reply to group | Start a New Topic | Messages in this topic (7) |
