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19 March 2007, 08:58 AM | #1 |
"TRF" Member
Join Date: May 2005
Real Name: Arturo
Location: Pacific Northwest
Watch: Black GMT ll
Posts: 1,271
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To my accountant with Kermit
I had to do another visit to my accountant with some more stuff. I despise tax season. I am a partner in a law firm, and unlike my employees, I pay estimated taxes. I try to be accurate. Basically, I take just about 1/2 of what I make and carry it off the the IRS every April. The 1/3...20% rule usually works for me as long as I have fully funded my SEP. Meaning, it is simple, just take 1/3 of my gross. That goes to the feds. Take 20% of that amount, that goes to the state. Usually eyeballs pretty well after all deductions. You should try it and see if it works for you.
Well, I was feeling crummy like something was missing this morning....and I was not interested in going to the accountant. I put on Kermit, and I had a whole new sense of tolerance for the situation. Here he is. |
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