Forum Discussion
- Old-BiscuitExplorer IIIChanging the title and asking it a different way doesn't result in different answers.
Talking with a tax/investment professional is what you really need to do. - F105ExplorerOB is correct - sorry for jumping on you.
- gboppExplorerThis will probably get deleted but, don't we all take deductions on our income tax returns to 'avoid' paying tax?
- 352ExplorerPlease just wait to the government shuts down again and then you don't have to worry about it.
- TrackrigExplorer IIAnd speaking of paying taxes, I wonder if we only have to pay 86% of our Fed taxes for the 16 (?) day shut down since 14% of the government wasn't working?
Bill - darsbenExplorer II
Trackrig wrote:
And speaking of paying taxes, I wonder if we only have to pay 86% of our Fed taxes for the 16 (?) day shut down since 14% of the government wasn't working?
Bill
You miscalculated. Because of the shutdown you will have to pay 22% extra because the people not working will now work overtime to make up.
14% times 1.5 for overtime equals 22%
So you will pay 122% - Francesca_KnowlExplorer
darsben wrote:
Trackrig wrote:
And speaking of paying taxes, I wonder if we only have to pay 86% of our Fed taxes for the 16 (?) day shut down since 14% of the government wasn't working?
Bill
You miscalculated. Because of the shutdown you will have to pay 22% extra because the people not working will now work overtime to make up.
14% times 1.5 for overtime equals 22%
So you will pay 122%
I think both of you are overlooking the "promise to pay back" made to those States that ponied up funds to open National Parks in particularly profitable Markets!
Add another one per cent or so for that...now we're up to 123%. :S - Jim_ShoeExplorerWay to go, fellow campers. The guy's a new member and has asked just three questions since joining 8 months ago. Maybe he can find a different forum where the members remember when they were new.
- F105Explorer
Jim Shoe wrote:
Way to go, fellow campers. The guy's a new member and has asked just three questions since joining 8 months ago. Maybe he can find a different forum where the members remember when they were new.
Take it easy - I apologized and others did also in their own way. As was pointed out early, the way the topic was misleading as most of here pay our fair share of taxes. - accsysExplorerJust to answer the original question which was not out of line since tax avoidance is perfectly legal and expected. Tax evasion is a totally different thing and can buy you time in a penal institution.
You didn't specify what kind of retirement account but you cannot use an IRA as collateral. You are also limited to 5,000/year contribution unless you are old enough to qualify for a 6,000 contribution. You would be much better off using the toy hauler as collateral for its loan and deducting the interest as mortgage interest on a second home IF you currently itemize.
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