Income averaging

Schedule G has been gone for more years than the age of some of my children ;-)

You and I are old enough to not sweat Form 1095-C, but many here are about to take gas >:-} ...Jim Thompson

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Hasn't that been gone for decades?

It died in 2002: unless you a fisherman or farmer.

-- Jeff Liebermann snipped-for-privacy@cruzio.com

It went away with the 1040 form. You make 50, keep 10, and pay 40 tax.

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I think it's more cost/loss concentration, now. You pile those into the income spikes, where possible. In practice, this is simply plowing it back into the business.

With three to six month development schedules, it can be a bitch.

RL

Doesn't matter as much these days, at least after you hit the FICA ceiling. If you don't hit it some years, averaging would hurt rather than help.

Cheers

Phil Hobbs

Soon there will be no FICA ceiling :-( ...Jim Thompson

Depends on the degree of fluctuations. If you make $300k the next, income averaging would help a lot. Damn the FICA.