Saturday, February 27, 2010
Sunday, February 21, 2010
Listen to No Agenda
If you do not listen to the No Agenda Show podcast, then you are a fool.
http://www.noagendashow.com
Also on iTunes
Don't worry, it won't kill you.
http://www.noagendashow.com
Also on iTunes
Don't worry, it won't kill you.
Friday, February 19, 2010
Sunday, February 14, 2010
Did you know this about Federal Taxes
I noticed this while I was filing my returns.
Withholding, as you know, is the way for the government to shield you from the hurt of realizing how much money you are actually paying them. They withhold it from your paycheck so that at the end of the year, you don't owe as much or even get a refund. This makes tax time awesome because you get a nice check in the mail. However, you are getting robbed. What if you took all the money that was withheld from your paycheck and dumped it into a CD. You could keep all the interest income and then drop the balance to the government. Instead, the government keeps all that interest money for itself. I've been looking for a way to do this, but the only easy way I can find is to just lie on my W-4 form so that less gets withheld.
However, I have found that this theory will not work. I found out that the actual due date for your taxes is NOT, I repeat NOT April 15th. You MUST pay throughout the year or else you get fined. It is only the PAPERWORK and syncing of the balance that is due on April 15th. So when the government says that your taxes are due on April 15th, they are lying. Your taxes are due much earlier than that. My theory will not work in practice because I found out that there is a fine if you have not allowed sufficient withholding from your salary.
So, the thing to try and do is set up as little withholding as possible (zero if you can figure out how to swing it), then dump the remaining expected balance at 11:59:59 on December 31st of the tax year. There are ways that you can contribute outside of your company's withholding setup, so in order to do this, you'll have to get yourself signed up. That way, you can hold off your taxes until the last possible moment and avoid the fine.
"
Withholding, as you know, is the way for the government to shield you from the hurt of realizing how much money you are actually paying them. They withhold it from your paycheck so that at the end of the year, you don't owe as much or even get a refund. This makes tax time awesome because you get a nice check in the mail. However, you are getting robbed. What if you took all the money that was withheld from your paycheck and dumped it into a CD. You could keep all the interest income and then drop the balance to the government. Instead, the government keeps all that interest money for itself. I've been looking for a way to do this, but the only easy way I can find is to just lie on my W-4 form so that less gets withheld.
However, I have found that this theory will not work. I found out that the actual due date for your taxes is NOT, I repeat NOT April 15th. You MUST pay throughout the year or else you get fined. It is only the PAPERWORK and syncing of the balance that is due on April 15th. So when the government says that your taxes are due on April 15th, they are lying. Your taxes are due much earlier than that. My theory will not work in practice because I found out that there is a fine if you have not allowed sufficient withholding from your salary.
So, the thing to try and do is set up as little withholding as possible (zero if you can figure out how to swing it), then dump the remaining expected balance at 11:59:59 on December 31st of the tax year. There are ways that you can contribute outside of your company's withholding setup, so in order to do this, you'll have to get yourself signed up. That way, you can hold off your taxes until the last possible moment and avoid the fine.
"
Underpayment Penalties
You'll have to pay an underpayment penalty for 2009 if you owe more than $1,000 in taxes (after taking withholding into account) and:
* Your taxes withheld don't cover at least 90% of your 2009 tax liability, or
* Your taxes withheld aren't at least 100% of your 2008 tax liability if your AGI is up to $150,000 or 110% if your AGI is more than $150,000. (The amount is $75,000 if you're married filing separately.)
For example:
In 2008 Ellen paid total taxes of $6,000. She thinks her income will be lower in 2009, so she plans to pay $5,000 in estimated tax payments for 2009. When Ellen prepares her 2009 return, she has a total tax of $6,500, $500 more than last year. Since Ellen only paid $5,000 in estimates, she must pay a penalty on the underpaid tax. Ellen would not have had to pay a penalty if she had either:
- Paid $5,850 in estimated payment (90% of 2009 taxes), or
- Paid $6,000 in estimated payments (100% of 2008 taxes)."
Tuesday, February 9, 2010
I missed another great Rush Limbaugh tirade
About the ingenuity and awesome power of human beings to achieve.
Every once in a while, Rush will get into a great flowing monologue about how great and creative human beings are and that individuals are capable of such amazing triumphs no matter what the odds. He gives perhaps the best "believe in yourself" type speech I've ever heard. This is probably because these monologues seem to come out of nowhere every few months or so. They emerge out of all sorts of different topics and flow out so naturally that I've come to realize that this belief is something he really believes deep down. I'm even more certain of this once I consider his past life before he made his money in radio.
Here is an exert from his website.
"You know, small business people comprise the gamut. A lot of them are just creative, they just have a passion for a service or a product. The business side is something they have to learn. There you go. I've often said, and I maintain it to this day, that even in a circumstance like this, meaning this deep a recession, most of the limitations that people face are those they place on themselves. "
You can see the whole dialogue here.
http://www.rushlimbaugh.com/home/daily/site_020910/content/01125110.guest.html
I saw him live one time when he spoke for Hillsdale College (currently the greatest liberal arts college in the world), but unfortunately he must not have been in the mood that night. He spent his hour blasting Democrats and making gay jokes about Barney Frank.
Every once in a while, Rush will get into a great flowing monologue about how great and creative human beings are and that individuals are capable of such amazing triumphs no matter what the odds. He gives perhaps the best "believe in yourself" type speech I've ever heard. This is probably because these monologues seem to come out of nowhere every few months or so. They emerge out of all sorts of different topics and flow out so naturally that I've come to realize that this belief is something he really believes deep down. I'm even more certain of this once I consider his past life before he made his money in radio.
Here is an exert from his website.
"You know, small business people comprise the gamut. A lot of them are just creative, they just have a passion for a service or a product. The business side is something they have to learn. There you go. I've often said, and I maintain it to this day, that even in a circumstance like this, meaning this deep a recession, most of the limitations that people face are those they place on themselves. "
You can see the whole dialogue here.
http://www.rushlimbaugh.com/home/daily/site_020910/content/01125110.guest.html
I saw him live one time when he spoke for Hillsdale College (currently the greatest liberal arts college in the world), but unfortunately he must not have been in the mood that night. He spent his hour blasting Democrats and making gay jokes about Barney Frank.
Friday, February 5, 2010
Tuesday, February 2, 2010
Come ON, Vatican!!
I'm Catholic... but WHY does the Vatican have the lowest age of consent IN THE WORLD??? (12)
Whatever it is... they should bump it up to 16 or so just so people don't catch this and blog about it. I sure hope it isn't intentionally that low.
http://www.avert.org/age-of-consent.htm
Whatever it is... they should bump it up to 16 or so just so people don't catch this and blog about it. I sure hope it isn't intentionally that low.
http://www.avert.org/age-of-consent.htm
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