SUCK IT IRS!

[gapertimmy]

just wrote you a check, thanks for the

8D

[archenemy]

Did you write it in Roman numerals?

[gapertimmy]

No but I threw a grip of short and curlys in the envelope

[archenemy]

You are my hero.

[ZimZam]

No but I threw a grip of short and curlys in the envelope

You're bound to be audited now. Or maybe homeland insecurity will think your a terroristo.

[Doug]

No but I threw a grip of short and curlys in the envelope

 

Were they glued together?

[Weekend_Climberz]

Those in the know use this:

 

http://www.irs.gov/individuals/article/0,,id=96196,00.html

[cj001f]

Those in the know use this:

 

http://www.irs.gov/individuals/article/0,,id=96196,00.html

 

And some of us have employers who fuck you over.

[archenemy]

And there are those of us who refuse to give the IRS an interest free loan all year. No way.

[Seahawks]

And there are those of us who refuse to give the IRS an interest free loan all year. No way.

 

Good way to go. I did that one year and didn't have enough withheld. Ouch it hurt. Havn't done that again.

 

Hardto get Audited if you don't make over 100k unless your taking some ungodly deductions.

[archenemy]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

[Seahawks]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

 

Thats a good way around some tax. I do the 401k at work becuase the company matches. Free money.

 

Roth's are little better becuase you can take them out later tax free.

[minx]

i don't think she's suggesting the mutual fund to avoid taxes b/c you wouldn't. she's suggesting setting one up to deduct the same amount monthly that you would normally have deducted from your paycheck for taxes. Then pay the taxes at the end of the year w/the mutual fund. That way, you've earned the interest, not the gov.

[archenemy]

i don't think she's suggesting the mutual fund to avoid taxes b/c you wouldn't. she's suggesting setting one up to deduct the same amount monthly that you would normally have deducted from your paycheck for taxes. Then pay the taxes at the end of the year w/the mutual fund. That way, you've earned the interest, not the gov.

Exactly, except take out more than you need so that you roll it over to the next year. That way, you have a savings. You should have enough to make it three months without income.

[archenemy]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

 

Thats a good way around some tax. I do the 401k at work becuase the company matches. Free money.

 

Roth's are little better becuase you can take them out later tax free.

Roths are not better b/c of this. You are paying your taxes on the money before it goes in.

Besides the tax benefit of a 401k, your employer vesting is the most valuable part of this option. You should have both of these accts.

I max both of mine out every single year. It is the first bill I pay every month.

[strumpett]

My husband and I just finished (turned in to our accountant) our 06 taxes. First time paying taxes with a child, wonder if it will help or hurt?

[Seahawks]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

 

Thats a good way around some tax. I do the 401k at work becuase the company matches. Free money.

 

Roth's are little better becuase you can take them out later tax free.

Roths are not better b/c of this. You are paying your taxes on the money before it goes in.

Besides the tax benefit of a 401k, your employer vesting is the most valuable part of this option. You should have both of these accts.

I max both of mine out every single year. It is the first bill I pay every month.

 

401k are nice. Roth point was that what you earn on it is not taxed. That why some people use it. I don't. I put all mine in 401k.

[archenemy]

If you are that dumb, everything must be painful

[strumpett]

If you are that dumb, everything must be painful

 

Why would you say such a rude comment?

[Seahawks]

My husband and I just finished (turned in to our accountant) our 06 taxes. First time paying taxes with a child, wonder if it will help or hurt?

 

$1,000 child credit. (not a deuction) It helps alot, at least for me it does.

 

Are your taxes that complicated??? you can get trubo tax at Costco. Taxes are easy no sense paying accountant.

[archenemy]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

 

Thats a good way around some tax. I do the 401k at work becuase the company matches. Free money.

 

Roth's are little better becuase you can take them out later tax free.

Roths are not better b/c of this. You are paying your taxes on the money before it goes in.

Besides the tax benefit of a 401k, your employer vesting is the most valuable part of this option. You should have both of these accts.

I max both of mine out every single year. It is the first bill I pay every month.

 

401k are nice. Roth point was that what you earn on it is not taxed. That why some people use it. I don't. I put all mine in 401k.

Having a Roth would help you diversify a little more. It sounds like you are making the assumption that you will have earnings at the time of retirement. There is no guarentee of this. You need both accts and a savings acct.

[Seahawks]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

 

Thats a good way around some tax. I do the 401k at work becuase the company matches. Free money.

 

Roth's are little better becuase you can take them out later tax free.

Roths are not better b/c of this. You are paying your taxes on the money before it goes in.

Besides the tax benefit of a 401k, your employer vesting is the most valuable part of this option. You should have both of these accts.

I max both of mine out every single year. It is the first bill I pay every month.

 

401k are nice. Roth point was that what you earn on it is not taxed. That why some people use it. I don't. I put all mine in 401k.

Having a Roth would help you diversify a little more. It sounds like you are making the assumption that you will have earnings at the time of retirement. There is no guarentee of this. You need both accts and a savings acct.

 

Soemtimes I wonder if it wouldn't be smarter to pull all the money out right now, Tax rates have got to be lower now than later. All baby boomer retiring and Debt sky hight somethings got to give and it will be us suckers later.

[archenemy]

Oh, also, you should be aware that Congress can change these rules at any time. Currently, they are discussing changing the rules on taxing Roth IRAs. THis does not mean you shouldn't have one, but you should just be aware that things shift, and the gov't will take money from you whenever they damn well please.

[strumpett]

My husband and I just finished (turned in to our accountant) our 06 taxes. First time paying taxes with a child, wonder if it will help or hurt?

 

$1,000 child credit. (not a deuction) It helps alot, at least for me it does.

 

Are your taxes that complicated??? you can get trubo tax at Costco. Taxes are easy no sense paying accountant.

 

 

Seahawks. I own a business, work from home and lease an office. I have owned two homes in the last 12 months. I need to itemize all our bills for deduction. I have a child, and no time to do it myself. So off to the accountant, who does my work and personal taxes. Much easier that way.

[archenemy]

Set up a yearly mutual fund that automatically withdraws from your checking account monthly.

 

Thats a good way around some tax. I do the 401k at work becuase the company matches. Free money.

 

Roth's are little better becuase you can take them out later tax free.

Roths are not better b/c of this. You are paying your taxes on the money before it goes in.

Besides the tax benefit of a 401k, your employer vesting is the most valuable part of this option. You should have both of these accts.

I max both of mine out every single year. It is the first bill I pay every month.

 

401k are nice. Roth point was that what you earn on it is not taxed. That why some people use it. I don't. I put all mine in 401k.

Having a Roth would help you diversify a little more. It sounds like you are making the assumption that you will have earnings at the time of retirement. There is no guarentee of this. You need both accts and a savings acct.

 

Soemtimes I wonder if it wouldn't be smarter to pull all the money out right now, Tax rates have got to be lower now than later. All baby boomer retiring and Debt sky hight somethings got to give and it will be us suckers later.

No.

Not only will you have a penalty to pay, but you must assume that your earnings potential right now is higher than when you are older and you have low to no income.