J
Jay C
Guest
anything is better then working..then again aging I mean retiring is a job but don't let the low fed taxes fool you the first year. If you don't pay enough tax in each quarter you get hit with an interest penalty when you do your taxes for the year. Same with state taxes.
NE fund took no fed tax out the first year. I mailed in the fed income tax check at tax time but IRS hit me with an interest penalty. I accessed the fund online to increase withholding tax but it still wasn't enough per quarter and I got whacked again. You have to mail them estimated tax payments every quarter.
They give you a formula to figure your estimated tax but you need a degree in accounting to figure it out. If you owe more than $1000 there is an additional penalty. Not to worry..you will become a tax expert after they whack you around for a few years
NE fund took no fed tax out the first year. I mailed in the fed income tax check at tax time but IRS hit me with an interest penalty. I accessed the fund online to increase withholding tax but it still wasn't enough per quarter and I got whacked again. You have to mail them estimated tax payments every quarter.
They give you a formula to figure your estimated tax but you need a degree in accounting to figure it out. If you owe more than $1000 there is an additional penalty. Not to worry..you will become a tax expert after they whack you around for a few years