Re: Finished my Taxes and had some interesting numbers!!

Posted by donjr on March 05, 2015 at 08:31:39 from (71.246.69.119):

In Reply to: Finished my Taxes and had some interesting numbers!! posted by JD Seller on March 04, 2015 at 20:11:06:

I am not going to get into my tax situation because I get every penny back and usually some goobermint money during the year. I still wind up paying a potful during the year, and when I was working full time, they made up for what they don't get now.

But my main reason for jumping in here was a short story about my great aunt. She had her SS, a teachers pension, and my great uncles railroad retirement coming in, lived in my granddad's house rent free and had an enormous legacy in cash built up. My dad took over her finances and invested a large deal of it in paper at 15.01% at that time. When the tax man came calling, she had made over $25K in interest income, and had to write a check to Uncle for about $3500. Now, you have to realize, this woman was in her 90's and managed to live on about $4,000 a year at that time, and she was dammed if she was gonna pay the IRS $3500 of her hard earned money! But, then again, she still couldn't understand where all of that money came from......

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