Finished my Taxes for 2017

[GWguy]

... and I got nailed. Big time. But, my own fault.

I was already in a fairly high tax bracket. Early in the year I took a lump sum from my IRA to buy toys, didn't take any taxes out knowing that I had already bumped up my deductions from other incomes, thought that would cover it. Wasn't enough. At all. The lump sum pushed me into an even higher bracket.

So, for the first time in a very long time, I have to write a big check to the IRS.

Lesson learned.

 

[Kyle]

... and I got nailed. Big time. But, my own fault.

I was already in a fairly high tax bracket. Early in the year I took a lump sum from my IRA to buy toys, didn't take any taxes out knowing that I had already bumped up my deductions from other incomes, thought that would cover it. Wasn't enough. At all. The lump sum pushed me into an even higher bracket.

So, for the first time in a very long time, I have to write a big check to the IRS.

Lesson learned.

on the bright side… Next year should be better! MAGA

 

[PeoplesElbow]

Thats why my toy fund is in a Roth IRA.