If you have a regular IRA, you can convert it to a Roth IRA to bump up your taxes. Then you never have to pay taxes on that converted money and you don't have to start taking a Required Minimum Distribution in your 70s.
This is exactly what I want to do but the conversion must be completed by the end of the year and many IRS forms won't be ready until January. Our tax code is absurdly complex and it makes determining how much IRA to convert a guess at best.
Here's a bit of interesting info about the Hoegh Trapper on route to Baltimore. My MA gave me a screen print of my shipping info. On it was the BOL for the shipment. If you go to https://www.hoeghautoliners.com/my-cargo and enter the BOL# HOEG3R31SOBA3000 you can see a list of every VIN # from MINI on that shipment along with the ship info. Destination and ETA for arrival. At least this is what I believe I'm seeing. My VIN is on the list. I don't know what you can do with this info, but it's interesting. The WMW13D's are SEs I believe. There are at least 26 of them.
Plug the numbers into last years copy of TurboTax and you will have a good idea of what it will cost. Back to the 7,500 insightman's idea will help someone who doesn't have a 7,500 tax liability for 2020 and does have an IRA put the 7,500 to use since it is use or lose. eBay has prior year versions of TurboTax pretty cheap if you need to plan. The key is the car has to be put in use in 2020 in order to use the credit for 2020. If you get the car in 2021 and owe taxes for 2020, estimate what your 2021 liability will be after the credit, and adjust your withholding down, then pay the difference to Uncle Sam.
Anyone tracking the Hoegh Trapper have any luck with it's current position? I'm using myshiptracking.com but it hasn't had a location update since Monday. I don't think it's still in the English Channel..
Maybe somebody has a subscription and can look it up. In any case it will show up on the free services when it gets closer to land. Something I was disappointed in, when I was trying to project what boat my car was going onto, was that I never found a good resource for what ships were inbound and outbound from the port in Baltimore. The Port of Southampton has a good web page and Brunswick Ga has a good page. All of the ships arriving and departing and what general type of ship. Very useful if you don’t know a Ro/Ro from a row boat. Sent from my iPhone using Inside EVs
Does anyone have a vehicle in the Polaris Highway? I called MINI customer service they said the port is Galveston, but it arrived in Brunswick, GA. Is it possible that the shipping boats make more than one stop? Anyone have any input?
LaurieS, fleetmon.com has up-to-date tracking of our boat. And it’s free, just have to create an account. Sent from my iPhone using Inside EVs
It’s pretty common for boats to make multiple stops, especially for further ports. You can see the location of your boat on marinetraffic.com, fleetmon.com, etc. just Google the boat name and it should show you a number of sites with its current whereabouts. If you can find the shipping company who owns the boat, you may be able to see the boats port of call schedule. Sent from my iPhone using Inside EVs
https://www.klineglobalroro.com/schedules/1-1_europe_to_north_america_and_mexico_gulf_schedule.pdf Yep, scheduled to stop in Brunswick. Sent from my iPhone using Inside EVs
It’s about time! After sitting in Baltimore for almost four weeks, my car is in transit to Pittsburgh. It looks like I’ll have it at some point next week! Finally!
Just got my production # last week and I cannot stop checking the progress. It's still on the first step which is order received and I know it will be a while before it's scheduled for production, but I am praying for a miracle and hoping it has changed every time I check it. How many of you constantly checked it or is it just me? LOL
It's not just you. A friend in the local MINI club also has one in production and the both of us check all the time. We decided if we were to take a "shot" every time we checked the status we would both probably be "drunk" before Noon.
Glad I am not the only one… once it starts moving, it moves pretty quick… until it leaves the factory. Hold on! Now that mines on the boat, I ONLY check it like 3x/day… Sent from my iPhone using Inside EVs
Since it's on a boat now I only check 2 times a day, once in the morning and once in the evening. Just to make sure it's still moving. LOL. Then we wait again once it gets to the port. I wonder if MINI is aware of the anxiety they are causing in their customers? I guess that's why we are all in this forum, it's like group therapy.