Bah 2023 Taxes

C

Chopticon64

Active Member
PeoplesElbow said:
Eh it means I made a lot of interest income. I would get $8 back if it wasn't for that.
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So a humblebrag about high savings account balances?

you seem sharp, but maybe needing validation.

Excellent job on saving! And putting that money in a high yield saving account! Interest in those accounts is taxed liked income, so not very efficient.

Boost your 401k savings if you’re not maxed, then your HSA, back door Roth, maybe I bonds
 
N

NOTSMC

Well-Known Member
Chopticon64 said:
So a humblebrag about high savings account balances?

you seem sharp, but maybe needing validation.

Excellent job on saving! And putting that money in a high yield saving account! Interest in those accounts is taxed liked income, so not very efficient.

Boost your 401k savings if you’re not maxed, then your HSA, back door Roth, maybe I bonds
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PE IS sharp. And on top of all that, he's a selfless, big hearted, truly good guy. You on the other hand, sound petty, jealous, and more than slightly condescending. Is SMC79 your sister by any chance?
 
PeoplesElbow

PeoplesElbow

Well-Known Member
Chopticon64 said:
So a humblebrag about high savings account balances?

you seem sharp, but maybe needing validation.

Excellent job on saving! And putting that money in a high yield saving account! Interest in those accounts is taxed liked income, so not very efficient.

Boost your 401k savings if you’re not maxed, then your HSA, back door Roth, maybe I bonds
Click to expand...
401k has been maxed out for 20 years now, Roth was also but now I can't put the max in, this is my liquid funds.
 
Gilligan

Gilligan

#*! boat!
PREMO Member
Decent chunk coming back from Feds...still waiting on state return. If its anything like last year, I'll probably owe the state most of what I got back from the Feds. ;-(
 
SamSpade

SamSpade

Well-Known Member
Gilligan said:
Decent chunk coming back from Feds...still waiting on state return. If its anything like last year, I'll probably owe the state most of what I got back from the Feds. ;-(
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Been that way, for me, for several years - but until last year, the Fed refund covered the Maryland take. No more.
 
PeoplesElbow

PeoplesElbow

Well-Known Member
Chopticon64 said:
So a humblebrag about high savings account balances?

you seem sharp, but maybe needing validation.

Excellent job on saving! And putting that money in a high yield saving account! Interest in those accounts is taxed liked income, so not very efficient.

Boost your 401k savings if you’re not maxed, then your HSA, back door Roth, maybe I bonds
Click to expand...
It was more of a comment in how much interest rates have changed lately, they had been about 0.5% if you had a high yield account, but now banks are pretty much throwing high interest accounts and CDs in your face for 4.5%-5.0%.

Several years ago I had tuned my deductions so I wouldn't get such a big refund, slipped my mind this past year to include higher interest rates into my planning.
 
H

HemiHauler

Well-Known Member
Chopticon64 said:
So a humblebrag about high savings account balances?

you seem sharp, but maybe needing validation.

Excellent job on saving! And putting that money in a high yield saving account! Interest in those accounts is taxed liked income, so not very efficient.

Boost your 401k savings if you’re not maxed, then your HSA, back door Roth, maybe I bonds
Click to expand...

Maybe it’s cash for an emergency fund? I wouldn’t tie that up in anything but an HYSA or traditional passbook savings, depending on a few different details.
 
Blister

Blister

Active Member
Personally we ended up $13.00 ahead. Tiny refunds from both Feds, and MD. After subtracting software and filing costs I won the $13 lottery.
 
PeoplesElbow

PeoplesElbow

Well-Known Member
jrt_ms1995 said:
Just think of how much better you'd be doing if you'd been smart enough to go to N.C. State (but avoided Poe Hall)! 🐺
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My best underling went to ECU and told me NC State were a bunch of tools. :lmao:

They do seem to think they are the only engineering school in NC from what I remember. Kind of doubt Poe hall is the only place they find them btw.
 
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