That’s what I do. I have my taxes set up to withhold at the single rate. I pay obviously more thru the year, but I don’t ever want a tax bill at the end of the year. To me, that’s worst than giving the gov an interest free loan.
I am a seasoned TQM veteran!
I think I saw that you can take a 300 deduct for 'charities' with no itemizing this year.
My wife seems to want to help Uncle Sam out. We apply our refund to next years taxes due. We got a letter from the IRS a few years ago that they didn't want to carry such a large balance forward and sent us a refund. LMAO
What is TQM?
Well I’m not so sure. Around here, people are generally doing that. I might see one person every other trip to the grocery store without a mask. Stores have hired extra security, they pass out hand sanitizer, make you wipe down your cart when you get it, and they won’t let you thru the doors without a mask.
Nice. I need to sit down and do this years taxes. I normally have them all done by New Years. Usually just adjust a couple numbers by January if I need too but normally I’m spot on. Then the day they can be efiled, I send them off. Then just wait. But I’m curious as to how this year will be affected with that whole stimulus thing
We do our Roth contributions every year, and send a chuck once or twice a year to our investment guy.
Condolences!!!!!
All our contributions are pre-tax at the moment, I’m switching everything to a Roth in January, paying the taxes from it now before Dems get control and raise taxes, and from there, everything will be a Roth. They’re talking a 33 percent tax bracket on 401ks for my balance level.
Brain cells you'll never get back....so sad
We have a couple Roth's that have been good from the start. My cd's are about to be renewed and the interest rate is really low. Time to roll some money over to something else. .947% interest on a $100,000 CD aint cutting it. But, now is the time to borrow if you need to. Our consolidation loan for the roof was around 2.25%
Yep we have no 401k's, got rid of ours years ago.
Have you participated in TSP yet? That was a good deal. They match the first 5%
Huge parts score!!!
if you can get the loan. We were preapproved for a home loan in Feb. construction was to start in May due to ground conditions. Covid hit, banks raised their requirements thru the roof, we have mid 700 credit scores and about a 30 percent downpayment and still can’t get approved for a construction loan. We’ve heard every excuse in the book and been told to do this and that, which we did and we got nothing. I’ve been thru More than 2 dozen banks. Same story, credit scores are good, debt to income is great, payment history is great. The hang up is a mystery. And when you press them, they resort back to Covid as an excuse. Honestly, I think what happened is interest rates plummeted during this and millions refinanced and the banks are cash strapped. I really think that’s what it is. I did have one mortgage officer tell me their bank was out of money for new construction after shifting it all to refinances. So that’s where I get that notion.
I started last year. I don’t get the March, only active duty or those on that new Blended retirement program, the one where you give up your pension but get a 401k that follows you even if you don’t do twenty years. Obama changed that in 2010.
A friend of mine bought one of those a few years ago, down in South Carolina, ended up having a few rare, never ran crate engines including a fully dressed 427 Cobra Jet.
Yeah. I’ve gained about 48 percent year over year right now. I started in December last year. I put 20 percent of my base pay in.
