The leaves are out. A thick coat of yellow pollen is on EVERYTHING. My eyes are red and itchy. I sneeze frequently. Yep, it’s springtime in the ATL. Apparently this year we’ve set some records for daily pollen counts. No wonder my anti-allergy medicine is having a hard time keeping up!

The photo above is from Laurel Park in Marietta, Georgia. I discovered it while out wandering around today. Pretty, well-landscaped park. Quiet with nice walking paths centered around a pond feature. Big Girl is enjoying a spa day, so we’ll definitely be back to check things out in greater detail.

2023 was our first full tax year as “retirees” (meaning no full-time employment). I worked a part-time job for about six months last year, having extra money withheld to cover any potential taxes due from our other income sources. I prepared and filed our tax returns as I always do.

The federal government and state of Georgia treat certain types of income very differently. This resulted in a refund on the federal side, only to be offset by what we owed the state. In addition, Georgia exempts certain types and amounts of income once filers reaches a certain age. We’re not there yet, but look forward to those future tax breaks in 5-6 years, should we still be living in Georgia.

Our taxes are definitely a LOT less than when we were working full-time. Yes, our earned income is significantly less, but the tax treatment for dividends and capital gains is much more favorable than it is for ordinary income. As for wondering if should we make estimated tax payments? Nope. I can bump up withholding amounts slightly from any part-time work and my pension payments to cover most of the tax liability. We’ll probably owe the state for the next couple of years, but the “underpayment” penalty is nominal. I’ll just plan to settle up with them in April of each year. If I were to make estimated payments based on this year’s numbers, I would set aside about 8-10% of our total gross income for fed & state taxes combined. Your situation may be different.

Bonus!!! This week I realized that I only have TWO health insurance premium payments left at COBRA rates. Once pension checks begin, rates will drop to employee rates. Cue the happy dance!