Skip to main content

View Diary: Midday open thread (70 comments)

Comment Preferences

  •  From a "Professional" blog I frequent- (1+ / 0-)
    Recommended by:
    i talked with our tax guy the other day. i am pretty clueless about taxes and such.

    anyways the tax guy informed us that once you hit $115k you are in a new tax bracket of 25%...below that, like we have always been, is 15%.

    question for you tax paying owners: if we're still around in a few years time and hit that $115k mark, are there some type of tax-free investments to put excess $ into so that it isn't taxable? i shoulda asked the accountant but i was too stunned to think straight at the time.

    it seems like i'd only wanna make $114k and then make a quick jump to say $140k the next year so that i can see some type of $ increase, after taxes.

     please learn me how to legally put that $ away tax free

    This guy seems to think that his whole pile of income will be taxed at the new, higher rate.

    -- We are just regular people informed on issues

    by mike101 on Sat Dec 08, 2012 at 01:26:38 PM PST

    [ Parent ]

    •  that is what most people think (1+ / 0-)
      Recommended by:

      He could increase his retirement contributions but that is delaying taxation not avoiding it.  He could invest in municipals but that is for income from the bonds not the earned principal.
      OTOH someone making $100K+ annually should have had a long talk with his tax professional years before now; he deserves whatever he gets in terms of taxation  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site