Tax time. Happy anyone??

[jpswino]

For me, I use the money that Uncle Sam would be holding to make money, not put it in a savings account at minimal interest.

For example, stock offering from the company I work for is $10 a share less than what it is publicly trading for right now. Currently the stock is offered at just under $20 so I can buy 120 shares with that $2400. As soon as I own them I can sell for $3600 making a cool $1200. Really, its that simple. And if I decide to hang on to the stock or a portion of it the sell value may be higher, but thats the gamble.

But even if you make a modest investment in a $20 stock that goes up $3 dollars of the course of the year you can bag $360. So I'm talking about a tad more than $35.

Keep in mind I am not using my "take home" money to do this so its not cutting into my life in any way. I'm using the money "you never see" that's taken out of your check before you cash it. That makes the deal even sweeter. Its like borrowing money to use to make money then returning the money at the end of the year without paying interest on the loan all year. Imagine as if you borrowed money to buy a 32' Sedan and a year later you sell it for a profit, return the money borrowed interest free from the sale BUT you get to KEEP the profit! [cl

AND I am only talking about the $2400 YOU OVERPAID and didn't need to do. Imagine how much you could have made if you held back the $2400 you overpaid PLUS the money you will owe. It would have been atleast THREE times as much. SO my profit from stock would be more like $3600 free and clear!!!! WHOOOO HOOOO! Or that $360 profit would have been more like $1080!!!
SO I am really not talking about $35 at all..............

 

[bob w]

jpswino,You have a special circumstance. And you must be an investment guru!

I saved 15% of my income for 33 years and the company threw in another 5%. So I know about investing & saving. Also, you cannot avoid witholding or estimated tax payments & it must be within a high percentage of what your tax liability will be for the year. Otherwise you are supject to penalties.

If, you keep on turning that kind of profit on your money, I expect to see your name on the Forbes list soon. Your rat rod collection will be huge![cl

 

[jpswino]

Thats why you can only buy 10% of your annual salary at the employee stock offering rate. Or I'd be borrowing as much as I could to make a buy. But then again, so would every other one of the 46,000 employees and the stock value would be $hit!!! lol

Yep you cannot avoid some witholding, but you can option it down to a minimum freeing up the maximum immediate cash every month. You just need to plan to pay in April.

 

[bob w]

Fact of the matter is, I don't need to diddle around like that anymore.

 

[jpswino]

Amen brother. I'm still working my way through the maze. Closed two businesses (restaurant and a wholesale wine company) in the last few years and now I'm playing catch up! Still got lots of back taxes to pay to the only legal mafia.

But I'm earning again and this time I'm not relying on the sink hole Michigan economy.