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Originally Posted by LeeNoga
Pay your taxes before you invest the money  |
Well...I used to do that...but it is a bit more complicated than that. There are capital gains involved...an inheirited IRA...and State taxes that are almost equal to Federal taxes. I should have consulted with an accountant when I sold all of my holdings last year and became 100% retired...but I didn't. I fired my last two accountants and after firing the second accountant I decided to handle my own affairs...and there is a learning curve involved.
It is not that big of a problem...but it does kind of tick me that I have to lose dividends on money that I have to take out to pay taxes and then will have to pay taxes on the money that I use to pay taxes.