A great BIG thank you to all

[freebird5825]

I wanted to share this with you all...
for the first time in my life since I started working part-time at age 15...
drum roll...
for the first time in my life since I graduated college...
drum roll...
for the first time since I FIREd from the 28% tax bracket in 2007...
drum roll...
I owe ZERO taxes to NYS, in fact I have a carryover credit for LTC insurance premiums for next year.
I owe a grand total of $24 to Uncle Sam. I offset my cap gains and dividends with just enough tax loss harvest for 2008.

The "thank you" goes to all who talked about tax loss harvesting, tax exempt investments, baselining current tax laws, and keeping an eye on opportunities to offset capital gains.

I am your best student!!!!!

In honor of the occasion, live from Radio City Music Hall in NYC, the Rockettes will provide free entertainment for the Forum...

 

[crazy connie]

Wooooooooooo Hooooooooooooo!

Freebird aint a Jailbird!

Bring on the Chip & Dales!

 

[bbbamI]

Let's party!

 

[FIREd]

Darn it looks like I walked into a bachelorette party!

Party on girls, and congrats Freebird for a job well done!

 

[harley]

Wooooooooooo Hooooooooooooo!

Freebird aint a Jailbird!

Bring on the Chip & Dales!

Would that be Chip and Dale?

Or the Chippendales?

 

[bbbamI]

Ahhhhhoooooogahhhhhh! ......

 

[crazy connie]

Would that be Chip and Dale?

Or the Chippendales?

All of the above please! On yes, I would love some more champange. After all, THIS IS A PARTY!

 

[JOHNNIE36]

Congrats Freebird!!!! Great post. It's like you beat the system. That's what I felt like when I took the money down to the mortgage company and paid off my house. Free at last-free at last-thank God I'm free at last. I've slept like a baby ever since.

 

[Moemg]

Congratulations ! Unfortunately I did not get the memo and ended up with a capital gains bill this year . Ouch !

 

[Payin-the-Toll]

Too bad Daschle and Geithner aren't posters on here--maybe they could learn something.

 

[CuppaJoe]

Congrats, Freebird. Imagine having fun doing your taxes.

As for me, wait 'till next year.

 

[TromboneAl]

I think that the public is missing the true message of the Dashle, Geithner, Killefer problems. That message is this:

Our tax system is too complicated.

 

[Nords]

I think that the public is missing the true message of the Dashle, Geithner, Killefer problems. That message is this:
Our tax system is too complicated.

Hey, if taxes were easy then everyone would start paying them...

 

[ERD50]

I think that the public is missing the true message of the Dashle, Geithner, Killefer problems. That message is this:

Our tax system is too complicated.

While I agree that our tax system is too complicated, I think that is not "the" message.

"The" message I get is that the people in power, the people who are trying to achieve higher positions in power, and *know* that their records will be scrutinized, are still so egotistical as to think that they are above the law. These people didn't just push the envelope, they didn't pay taxes that they should have known (or could have found out) that they owed. And some rely on statute of limitations to still not pay the taxes they knew they owed.

This is so blatant, the joke has become " Of course some people in govt want higher taxes - because they don't bother to pay them!".

Sorry if that was a bit soap-boxy, but it is about the money. Taxes should be simpler, PLUS we just can't expect fiscal responsibility from govt if the govt officials themselves are [-] gaming the system[/-], no, breaking the law for their own personal benefit.

-ERD50

 

[Zoocat]

Congratulations on being a great student, Freebird!!!!!

I ditto the thank yous, as I first read about harvesting losses on a thread here. After reading more, I took advantage of it completely this year. I hope to get a refund of at least some of my quarterly payments this year. If so, I'll be stimulating the travel economy a little more this year.

 

[laurence]

Congratulations! I haven't thanked the people on this board enough for all the help I've recieved. The difference in what I have socked away for retirement will be in the six, if not the seven, figures due to the advice and knowledge I've recieved here.

 

[CuppaJoe]

....

Our tax system is too complicated.

Now I feel better. I thought it was math.

I have a paper draft and a TaxAct draft now, different numbers, they give me a nicer refund. But I'll wait 'till next month to finalize it. One of my brokerages forgot an item; I went ahead and added it as it is one the IRS clipped me on before.

 

[Rustic23]

And a concerned congress is going to pass a law saying that all congressmen, senators, the President, and supreme court judges must be audited every year and for 5 years after leaving office!

Someone please send the photo!!!

 

[ls99]

I think that the public is missing the true message of the Dashle, Geithner, Killefer problems. That message is this:

Our tax system is too complicated.

If they were so brilliant and indispensable to the gummint, howcome they can't sort out these little details. Perhaps Charlie Rengel can assist them.

None of them paid penalties, which is where real punishment would be.

I do agree the tax system is complicated, these buggers and their friends wrote them intentionally complicated.

I am for flat tax, 10%. No matter what the source of income. No deductions for anything. That is for corporate or individual.
Even for the low incomers, if they made $100.- send in 10%.

 

[Rustic23]

Is99,
Hey, why not just tax those nasty old corporations say 60% and do away with individual income tax. While we are at it, do away with sales tax and add another 10%, then no one would have to pay tax at all.

 

[harley]

None of them paid penalties, which is where real punishment would be.

No true. I'm not sure about the [-]crooks[/-] big guys, but Nancy Killefer only owed $298 in back taxes, which she paid in 2005 along with $49 in interest and $600 in penalties.

 

[Koolau]

Had to share this though we're (OK I'm) getting a bit off topic.

Today's Honolulu Advertiser ran a cartoon which (if I can describe this) showed the President's new plan to balance the budget. He's going to continue nominating folks to cabinet positions - and those folks will then have to pay their back taxes. Ok, ok, maybe you had to be there.

 

[freebird5825]

just follow the bouncing ball...and sing along...

YouTube - Taxman - The Beatles (Revolver)