Comments on: Taxes (or, GRR is the word)

By: By the numbers « Well-Heeled, with a mission

By the numbers « Well-Heeled, with a mission — Fri, 17 Jul 2009 05:01:39 +0000

[...] $1,000 = make-up tax payment that I will NOT have to pay come April 2010 [...]

By: Marisol

Marisol — Sun, 26 Apr 2009 07:26:55 +0000

Ouch! I thought I was going to owe so I didn’t do my taxes until 4/14. Cutting it close huh?! Well, to my surprise, i am getting a refund. I guess not working the last month of the year helped me out.

By: T

Fri, 17 Apr 2009 14:32:56 +0000

Oh boy. I’ve only had to pay taxes once. It was $150 or so and I was 17. Yes, I’ve been doing my own taxes since I was 15 (worked with a permit). There’s such a science to taxes and thank God I’m blessed with a 401K. I’m also blessed with HEFTY student loans bills, which suck for my net and disposable income, but help me greatly at the end of the year. I did my taxes the third week in January online. Had my money before February 15th and paid down a debt accordingly.

I always laugh at people who wait until 4/15 to do their taxes, but now I see why. I’d wait that long too if I owed money.

By: wellheeled

wellheeled — Wed, 15 Apr 2009 03:13:50 +0000

I contribute to a Roth so I can’t do the tax-deductible traditional IRA.

By: wellheeled

wellheeled — Wed, 15 Apr 2009 03:13:17 +0000

I love your beagle!! Are they really as curious / prone to wander off as I’ve read?

By: wellheeled

wellheeled — Wed, 15 Apr 2009 03:12:34 +0000

Sally – I wish such is the case! I qualify for a Roth and have contributed the maximum to it every year since 2006. But it’s after-tax – doesn’t do anything for lowering my taxable income.

By: sally

sally — Wed, 15 Apr 2009 02:45:03 +0000

I think you make to much for a roth anyway

By: CC

CC — Wed, 15 Apr 2009 00:11:47 +0000

Eeek!

By: Amanda

Amanda — Tue, 14 Apr 2009 21:13:46 +0000

I had to pay in for the first time this year as well. I am guessing it’s because I did not pay into a 401k this year. I could have but without the employee match I didn’t think it was worth the hassle. Gah, now I sort of feel like it would have been.

By: Sallie's Niece

Sallie's Niece — Tue, 14 Apr 2009 20:36:57 +0000

That’s lame your company doesn’t offer one. I have proved very bad at saving my own money but my 457 comes right out of my paycheck so I don’t even see that money. What vehicle are you using to save for retirement now, a Roth?

By: Miss M @ M is for Money

Miss M @ M is for Money — Tue, 14 Apr 2009 19:03:14 +0000

Do you already have a regular IRA? I’m getting a little money back but it’s due to all my overtime. If I don’t work much OT I usually ending up having to pay come tax time.

By: Adrienne

Adrienne — Tue, 14 Apr 2009 18:51:41 +0000

That still sounds odd. I don’t pay into a 401k and still got quite a bit back. Are you declaring yourself?

I’m far more in favor of Universal healthcare.

By: SP

SP — Tue, 14 Apr 2009 18:18:25 +0000

That is pretty lame of them.

They could simply raise the IRA limits to 21,500 (16,500 + 5000 — are those curr maxes?) for those w/out 401k. Then you can decide how much to pay pre-tax and post-tax yourself.

But honestly, I haven’t heard anything about this idea actually being considered and you’d have better luck petitioning your employer to start up a 401k!

Lately I’ve heard more cries that “401ks have failed us!” Well, if you are 65 you shouldn’t be 90% in stocks…

By: BD

BD — Tue, 14 Apr 2009 15:14:51 +0000

Wow, a company with lots of high-paid employees should really offer a retirement plan! I’m setting something up called a SIMPLE IRA for my company, which has only a handful of employees. The deferral limits are lower but it’s much cheaper for the company to offer, as long as it has less than 100 employees.

By: myprettypennies

myprettypennies — Tue, 14 Apr 2009 13:04:49 +0000

Aw, I’m so sorry! That really sucks.

By: her every cent counts

her every cent counts — Tue, 14 Apr 2009 06:34:28 +0000

Man oh man am I with you about the universal 401k. My employer doesn’t offer a 401k either… i max out my Roth IRA, but then what? No more tax advantage for me. Ugh.

By: wellheeled

wellheeled — Tue, 14 Apr 2009 05:14:00 +0000

Nope.. basically all W2 income. Basically all NOT deferred.

By: dogatemyfinances

dogatemyfinances — Tue, 14 Apr 2009 03:50:38 +0000

Do you get 1099ed? If you’re a contractor, you can use the self-employed IRAs, which are way better than 401(k)s.