Thread: Money I owe the IRS $4,000
View Single Post
Old 02-16-2020, 12:28 PM   #103
Coach Coach is offline
Champs!
 
Coach's Avatar
 

Join Date: Mar 2004
Location: Kansas City
Casino cash: $5738476
Another tip.

If you work and get W-2's, withhold more than you normally do, if you are able to. Yes, it doesn't accumulate interest at all, but it's another safe avenue to pay/lower your tax bill once the new year comes around.

If it's 1099's, then well, not much you can do about that one. But you can try to lower it by putting some of the money into Self-employed SEP, SIMPLE, and qualified plans, which would be an deduction of your income.
__________________
Super Bowl IV, LIV, LVII & LVIII Champions
2020, 2021, 2023, & 2024 AFC Champions
1985 & 2015 Major League Baseball World Series Champions
1980, 1985, 2014, & 2015 Major League Baseball American League Champions
2015 American League Central Division Champs
Posts: 53,225
Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.Coach is obviously part of the inner Circle.
    Reply With Quote