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Author: KidsInheritance One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121146  
Subject: My Outta Sight Tax Bracket! Date: 10/7/1999 11:31 AM
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Hi Folks,

I am a long time lurker at the MI board. First time here. Tried the FAQ, didn't get anywhere, so here's some questions that's probably asked before, please forgive me.

The Investment God has been very good to me this year. YTD return has already EXCEEDED the income from my job. Now that my tax bracket is gone through the ceiling, what do I do to reduce the tax bite? Isn't there a 5 year averaging where I refile the last 4 years tax returns and ineffect raise my tax for the 4 years but reducing the tax for the present year? Need help.

The second question is that my paycheck tax withholding is not gonna cover the tax on the stock sales. Can I run into the IRS office on the last days of December and give them a big fat check so I won't get slap with tax penalties? Need help on that!

Much thanks,
KI

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