Federal Taxes

[Mountain Man]

Imo, it's just easier to overpay and then get a refund. A year's worth of interest is negligible on the difference or you'd just have to file the 1099 to pay on the interest.

Sure, one year's worth of interest may not seem like much, but if you take the long view, it can start looking like real money.

[Cow Poke]

Sure, one year's worth of interest may not seem like much, but if you take the long view, it can start looking like real money.

I'm actually making more money on interest on that savings than I'm paying on my wife's new car loan.

[Cow Poke]

My 15-year old daughter often complains that she doesn't learn anything truly useful in school. I can't entirely disagree.

Which is why there's such a big push for "trade school" and "shop classes" as opposed to college. I love to hear Mike Rowe (Dirty Jobs) talk about this.
Every student who graduates high school should know how to change a tire, balance a checkbook, fill out job applications, be able to interview for jobs.... basic life skills stuff.
Oh - and they MUST be able to find Texas on a map.

[Mountain Man]

Oh - and they MUST be able to find Texas on a map.

texasnottexas_fullpic.jpg

[Cow Poke]

texasnottexas_fullpic.jpg

Rogue will be along shortly to clear up this misconception.

[Stoic]

Nope - fully employed - not quite ready for retirement yet.

My biggest challenge is that, when I signed up for Social Security, I didn't have them do "withholding", but that's OK - I just put that money in savings every month and pay up in March.

Seems like that could lead to an underpayment penalty.

[CivilDiscourse]

Hey! I was in the Navy and . . . uh . . . your remark is not totally unright

Dear god, I run into fellow squids everywhere

[Cow Poke]

Seems like that could lead to an underpayment penalty.

Nope.

[alaskazimm]

Dear god, I run into fellow squids everywhere

Two WestPacs for Desert Storm and Desert Shield. You?

[CivilDiscourse]

Two WestPacs for Desert Storm and Desert Shield. You?

12 years. Was on the Peleliu when East Timor voted for independence and was followed by a massive wave of violence. Got to go down there and sail circles. Was on the Tarawa when the Cole got bombed, left the gulf, and did circles off of Yemen for a while. Then was on the Kittyhawk for 3 years. The rest of my time was sitting in Denver working with the NSA.

[Diogenes]

Seems like that could lead to an underpayment penalty.

Underpayment penalty is for estimated taxes and pre-payment of taxes. You have a 10% margin iirc.

[Cow Poke]

Underpayment penalty is for estimated taxes and pre-payment of taxes. You have a 10% margin iirc.

And, in my case, I'm exempt from Social Security taxes on ministerial income, but I paid in a ton when I was in gas and oil.

[Stoic]

Underpayment penalty is for estimated taxes and pre-payment of taxes. You have a 10% margin iirc.

I wasn't suggesting that it would necessarily lead to an underpayment penalty. Just a friendly warning.

And I certainly don't expect CP to post details about his finances so we can figure it out for him.

[Cow Poke]

I wasn't suggesting that it would necessarily lead to an underpayment penalty. Just a friendly warning.

And I certainly don't expect CP to post details about his finances so we can figure it out for him.

On the other hand, when you're the pastor of a church, anybody can ask for a copy of the budget and see exactly what I make.

My current church takes care of me quite well (far beyond what I'm worth) but I have often served churches where I tithed more than I got paid, because I'm a crisis management and problem resolution kind of guy, and am usually drawn to churches in turmoil that need help.

[Sparko]

like what? I haven't started my taxes yet.

Just did my taxes. Pretty much the same as last year ($40 less refund than last year).