Comments on: Pay Yourself First: Under-withholding Taxes http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 02 Oct 2011 19:26:45 +0000 hourly 1 http://wordpress.org/?v=abc By: Jeff http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/comment-page-1/#comment-3650 Jeff Fri, 14 Dec 2007 06:58:43 +0000 http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/#comment-3650 Underwithholding by claiming more exemptions than you are entitled to absolutely is illegal. You can find this line at the top of a W-4: "Whether you are entitled to claim a certain number of allowances or exemption from withholding is subject to review by the IRS." I'm not saying they'll catch you, but that holds true of any form of tax evasion. Underwithholding by claiming more exemptions than you are entitled to absolutely is illegal. You can find this line at the top of a W-4:

“Whether you are entitled to claim a certain number of allowances or exemption from withholding is
subject to review by the IRS.”

I’m not saying they’ll catch you, but that holds true of any form of tax evasion.

]]> By: frugal http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/comment-page-1/#comment-515 frugal Sun, 02 Jul 2006 04:07:16 +0000 http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/#comment-515 Thanks for this tip. Didn't know that. I always try to closing my "trading book" near November, so that I won't generate more capital gain and therefore taxes. Thanks for this tip. Didn’t know that. I always try to closing my “trading book” near November, so that I won’t generate more capital gain and therefore taxes.

]]> By: John http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/comment-page-1/#comment-513 John Sat, 01 Jul 2006 23:18:37 +0000 http://www.1stMillionAt33.com/2006/07/pay-yourself-first-under-withholding-taxes/#comment-513 I believe for 1099 people your maximum required contribution in one year will not exceed the sum you paid as 1099 income in the previous year. So for me I've already paid in the required sum and I'm able to invest the remaining tax as you describe. I believe for 1099 people your maximum required contribution in one year will not exceed the sum you paid as 1099 income in the previous year. So for me I’ve already paid in the required sum and I’m able to invest the remaining tax as you describe.

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