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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,335
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finance, tax deferal, retirement planning??
I always get a bit back from the IRS. I'd like to keep it that way.
I'm taking advantage of the 401k at work. If I had some income coming in from a new source that isn't taxed when I get it is there something that I can do to compensate? I've wondered if bumping my 401k way up to compensate for this extra income would help, but then my paychecks will have less taken out for the IRS. I've also wondered if putting money in a traditional IRA since the savings is deductable. Or is there anything else that I could do with either this extra money or my current checks besides just increasing what comes out of my paychecks?
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa  SOLD 2004 - gone but not forgotten
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02-28-2006, 11:50 AM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,335
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or should I just run through TurboTax with my numbers for this year except add in the extra income and see what it comes out to?
__________________
Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa SOLD 2004 - gone but not forgotten
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02-28-2006, 11:57 AM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,335
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Nope, that's no good, gotta do something. It's going to make a huge (to me) difference at the end of the year.
__________________
Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa SOLD 2004 - gone but not forgotten
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02-28-2006, 12:01 PM
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