Comments on: Taxes are killer

By: Finance Matters

Finance Matters — Thu, 10 Jan 2008 03:43:35 +0000

Yes the trick I think is to find out the exact number of decutions so that you break about even each year. Don’t use the government as a savings account. BTW great site love the design.

By: ambellamy

ambellamy — Sun, 08 Jul 2007 14:29:27 +0000

Dennis-

if you do decrease the amount of money they take out, remember to save at least 15% of your Net monthly income [or whatever tax bracket you fall into] so when tax season does come… the money isn’t gone…

I’d recommend sticking it in a high yield savings account [emigrant Direct, or ING Direct are very user friendly] … and then just spend the interest you earned off of it… (but you will have to pay taxes on the interest earned)

by allowing the government to dock your taxes through out the year, your giving them an interest free loan. for next year i’m going to try and change my W2 withholding because “i claim zero” right now and they take out a crap load.

By: Wanda

Wanda — Thu, 28 Jun 2007 18:20:39 +0000

I think you can go to the HR and ask to adjust your W-2′s. I’ve decided to aggressively contribute to my 401K when I start work later this year… so I can shield some of my income from taxes right now.

By: Dennis

Dennis — Tue, 26 Jun 2007 21:21:00 +0000

what is that and how do i get it??

By: Michael V.

Michael V. — Tue, 26 Jun 2007 16:03:39 +0000

Have you thought about getting a W-2 for tax withholding? That way, you’d be able to use the money to make more money instead of the gov’t using it to do just the same! =)