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View Poll Results: What's your strategy for tax withholding?
I try and over-withhold so that I get some back at tax time 41 42.71%
I try and withhold the exact amount I'll need 36 37.50%
I try and under-withhold and just make up the difference at tax time 14 14.58%
What the hell are you talking about? Strategy? I just check the boxes and see what happens. 5 5.21%
Voters: 96. You may not vote on this poll

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Old 01-08-2013, 04:59 PM  
DaFace DaFace is offline
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Your tax withholding strategy
Just a poll for random discussion now that tax season is rolling around again...
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Old 01-08-2013, 05:32 PM   #16
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Old 01-08-2013, 05:39 PM   #17
Bwana Bwana is offline
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Quote:
Originally Posted by Bob Dole View Post
Actually, Bob Dole is having a discussion with some friends who are already there and a small group contemplating the idea of joining them.

Bob Dole's taxes are a mess... Stupid Bob Dole bought a house that doesn't even generate enough taxes and interest for Bob Dole to itemize.
It's not a bad gig and I plan on it when I retire. If it looks like you are going to do it, shoot me a PM.
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Old 01-08-2013, 05:48 PM   #18
Saulbadguy Saulbadguy is online now
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Withhold as much as possible then lie your ass off come tax time.
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Old 01-08-2013, 05:49 PM   #19
R8ers R8ers is offline
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Never was brave enough to cheat on my taxes
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Old 01-08-2013, 05:51 PM   #20
Saulbadguy Saulbadguy is online now
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Never was smart enough to cheat on my taxes
FYP
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Old 01-08-2013, 06:00 PM   #21
Buehler445 Buehler445 is offline
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Tax time makes me cry.

By far the most depressing thing about being self employed. Drought, Risk Exposure, Stress, uncertainty all suck, but paying that tax bill is awful. Terrible. Hate it.
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Old 01-08-2013, 06:02 PM   #22
Buehler445 Buehler445 is offline
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Oh. And Gaz. I run an estimate in November and see what I need to do from a tax strategy standpoint. The IRS does allow cash based accounting so that is a huge plus to my industry.
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Old 01-08-2013, 06:03 PM   #23
R8ers R8ers is offline
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Originally Posted by Buehler445 View Post
Tax time makes me cry.

By far the most depressing thing about being self employed. Drought, Risk Exposure, Stress, uncertainty all suck, but paying that tax bill is awful. Terrible. Hate it.
I get 1099's... Sucks to pay taxes on those
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Old 01-08-2013, 07:47 PM   #24
Buehler445 Buehler445 is offline
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I get 1099's... Sucks to pay taxes on those
Yessir. My guess is you have a better shot of getting back your SS and Medicare taxes than I do.
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Old 01-08-2013, 07:55 PM   #25
CrazyPhuD CrazyPhuD is offline
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Old 01-08-2013, 09:24 PM   #26
Marty Mac Ver 2.0 Marty Mac Ver 2.0 is offline
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I make several large donations to charity each month. My taxes go to them
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Old 01-08-2013, 09:43 PM   #27
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The interest lost by giving the govt a "free loan" is miniscule. All in all, the pain in writing $1000 check or whatever all at once in April is more than the pain in knowing I gave up a tiny bit of interest over the year.
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Old 01-08-2013, 09:57 PM   #28
Iowanian Iowanian is offline
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I try not to give them any more than I need to, my issue is that I'm a moving target at tax time. Some years I'm writing a check, some I'm getting some back.

Either way...it always feels like I'm working too many days and too many hours to pay "my fair share" while so many get a "refund" without paying in.
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Old 01-08-2013, 10:30 PM   #29
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I have no choice but to over-withhold. My income is relatively volatile and the risk of paying a penalty for underpayment is greater than the interest cost of overwithholding.
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Old 01-08-2013, 11:15 PM   #30
unnecessary drama unnecessary drama is offline
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