Penny Can

The Lobby => Off-Topic => Topic started by: Chiprocks1 on April 17, 2012, 10:42:31 am


Title: Taxes and the IRS
Post by: Chiprocks1 on April 17, 2012, 10:42:31 am
Things The IRS Won't Tell You

http://www.youtube.com/watch?v=FaU8lgy5NZo
Title: Re: Taxes and the IRS
Post by: Mac on April 17, 2012, 12:30:33 pm
DíohÖ I paid dearly this year to Fed and State.

But I also knew it was going to happen. I actually set the wheels in motion. I took a 40K regular IRA and converted it to a ROTH. There are one time fees associated with that, but in the long run after I retire, earning and deductions from the ROTH is the way to go.
Title: Re: Taxes and the IRS
Post by: Chiprocks1 on April 17, 2012, 01:37:22 pm
Thanks for the heads up Mac.
Title: Re: Taxes and the IRS
Post by: Mac on April 17, 2012, 06:05:51 pm
Chip, you have youth on your side. Be wise. There are examples all over the place of young people contributing in their very early years without much drag on their income, letting it grow and being very comfortable in their later years. You start early and make it part of routine, you'll never even feel it. I wished I started out of the gate with my career. Instead I waited long after marriage and kids. It's been a struggle, but I found my way.
Title: Re: Taxes and the IRS
Post by: Chiprocks1 on April 18, 2012, 09:21:58 pm
The Truth About Tax Rates

http://www.youtube.com/watch?v=oQurO1A8QWE
Title: Re: Taxes and the IRS
Post by: Mac on April 19, 2012, 06:56:56 am
I listen to financial radio shows on occasion yesterday the discussion of the wealthy getting wealthier was interesting. The bottom line is the wealthy for the most part did not just fall into it, they worked for it. They researched the system and made it work for them. Yes, they were enabled in some ways, but they still figured out how to work it.

I think videoís like this are important. Iíll bet we will hear more discussion of this. Finances are bubbling up to be very important for the average person, mainly because times are rough. If times were comfortable, we would not have this discussion, even though we are still getting screwed.

Let me sweep into politics. For me, I think Mit Romney will have a tough time appealing to many a folk because of his wealth. If they are anything like me, whether it be real or not, people of huge wealth have a different view of the world and I donít know how I could even begin to relate, let alone believe their guidance will work for the US. I think that way about most politicians, because I believe most politicians are also wealthy and live in that other skewed world. They donít feel the pain or understand what Joe Average is going through. They make decisions on what they know.
Title: Re: Taxes and the IRS
Post by: Chiprocks1 on April 19, 2012, 07:09:26 am
Excellent point of view.

Title: Re: Taxes and the IRS
Post by: Chiprocks1 on April 21, 2012, 05:10:43 pm
$10 Million Loans for Everyone!

http://www.youtube.com/watch?v=I9OtNgpDfPA

Gimme!!