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Old 07-06-2020, 04:44 PM   #341
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)
Congratulations!
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Fed taxes
Old 07-06-2020, 04:49 PM   #342
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Fed taxes

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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)

I donít consider that blowing dough just part of the cost of making all that money you owed taxes on! I on the other hand paid zero taxes for 2019 so am glad someone is paying them to keep the lights on. Dim bulbs they may be.,,,,,
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Old 07-06-2020, 04:57 PM   #343
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Only seven grand for me. Five hundred for what I owed for 2019 and the rest on 2020 estimated.
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Old 07-06-2020, 05:03 PM   #344
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2020 estimated for me will be $0 as I don't have to take my RMD!
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Old 07-06-2020, 05:13 PM   #345
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No federal or state tax for me in 2019. Yay ACA.
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Old 07-06-2020, 05:42 PM   #346
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)
Bought a new Car. Not as high as Corn18's Taxes (^^^^^^^^), but a lot for me. We DREAM about paying taxes that high.
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Old 07-06-2020, 06:36 PM   #347
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Bought a new Car.
This requires pics!
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Old 07-12-2020, 12:13 PM   #348
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Just put down a new garage floor with this stuff.
Raised Coin Pattern PVC Tiles

Definitely in Blow That Dough territory, but available for less at other sites. This link is to the manufacturer. Very easy to install and I'm extremely pleased with it.

The previous owner had put some kind of epoxy coating on the garage floor which looked nice but was quite slippery when wet. As my balance is nowhere as good as it used to be, that scared me a little, so I wanted a nonslip surface.

All you need to install it is a rubber mallet, and most of the time not even that. The pieces interlock securely, and they have air channels on the bottom to eliminate condensation concerns. Also very easy to cut to fit the edges with just a regular utility knife.

Screen Shot 2020-07-12 at 2.09.50 PM.png
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Old 07-12-2020, 12:15 PM   #349
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Just put down a new garage floor with this stuff.
Nice!!!
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Old 07-12-2020, 12:26 PM   #350
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)
Our additional taxes due were $72,487 for federal and $22,584 for state for 2019 and is scheduled for automatic withdrawal on July 15th, 2020. The penalties were calculated by the tax software and are included. It's going to be "blow that dough" for the federal and state governments.
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Old 07-12-2020, 12:43 PM   #351
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I added a 10' x 12' section of deck to the existing deck, then put up a gazebo and added a fire table. Not really "blow that dough" category as I did all the work myself, got the gazebo at an outlet mall, and got the fire table at cost from my sister-in-law who works in the industry.

All in it cost about $3,000 and 3 days of my time:20200613_143759 (1).jpg
20200620_115237.jpg
20200629_203622.jpg
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Old 07-12-2020, 01:02 PM   #352
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All that for three grand? That's an astute investment, not blowing thru
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Old 07-12-2020, 01:07 PM   #353
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All that for three grand? That's an astute investment, not blowing thru
Yeah...I probably should have posted that in "What did you do today" instead of "Blow That Dough"
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Old 07-12-2020, 01:44 PM   #354
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Bought an ebike that cost more than my first new car.
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Old 07-12-2020, 05:20 PM   #355
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)
Not really blowing that dough, just painful.
The question is what are you blowing the post tax dollars on?
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Old 07-12-2020, 06:44 PM   #356
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Not really blowing that dough, just painful.
The question is what are you blowing the post tax dollars on?
Savings and paid off our house. We did spend $67k on a very nice vacation in Africa.
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Old 07-12-2020, 10:17 PM   #357
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2020 estimated for me will be $0 as I don't have to take my RMD!
You may want to do a Roth conversion since you don't need to take an RMD.
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Old 07-12-2020, 10:22 PM   #358
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)
Well you just made me feel like our giant payment is not so large anymore.

I'm trying to figure out the safe harbor, and unless this payment is just the tip of an iceberg. I can only guess that in the previous year you were nearly tax free, did tiny estimated payments to 110% of 2018 taxes.
Waiting until the end to pay the full bill.

Maybe there are other safe harbor reasons I'm not knowing
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Old 07-13-2020, 01:36 AM   #359
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)
Congrats!
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Old 07-13-2020, 04:07 AM   #360
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Just wrote a check for $142,571 for 2019 Federal Taxes. Does that count as blowing dough? (I had safe harbor, so no penalties or interest)

Sorry i don't understand, remember i'm just a lowly electronics tech this post not so much about blow the dough but my mind!!!

Was this the start of your Roth conversions? i am still trying to put this all together that it REALLY is worth paying the LOTS of taxes now, so that Roth can continue to grow and not have to worry about taxes after that on withdrawals...

once i retire at end of year, we will still be in 24% bracket, and with DW pension, we wont have much wiggle room to $171000 and certainly don't want to go to 32%
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