The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Possible to invest extra income?||Date: 12/11/2000 9:06 PM|
|Author: rjm1||Number: 26549 of 81985|
This is my 1st post, so here goes. I have a full-time job and contribute to the max to my 401k ($10.5k for year 2000). I did
some moonlighting as a consultant thru the year, will be getting a Form 1099 (I was paid in full) and *gulp* haven't paid
any taxes on this additional income (which equals about 30% of my annual salary). My question is: is there some
retirement plan (Roth, Keogh, etc.) in which I can dump some of this extra cash I earned in order to minimize my
upcoming tax bill?
Better look into estimated income tax payments for state and local. Also you will owe social security and medicare tax.
Next est tax payment date is 1/15/01.
Look at irs.gov for publications.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|