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No. of Recommendations: 17
I've silently followed this thread and will now offer a couple of valedictory, I hope, comments.

p8ntbal, I'm sorry my use of "child" set you off. No offense was meant, but obviously offense was taken, and I'm sorry. The use of this word was part Southern affect and mostly a reference to the inferred panic at the thought of "omigod, I'm making more money and paying more taxes!" not a reference to your age. Heck, on a rainy day my left knee makes me think everyone in the world is younger than I.

I hope the overall point of my response wasn't lost: if you make more money you will pay more taxes. Personally, I'd love to have a through-the-roof tax bill, because it would mean that I was rolling in money.

A couple of things I left out of my original response. One was the excellent advice given by Lokicious to keep investments which produce current ordinary income in tax-deferred retirement accounts while keeping investments which will (we hope) produce long-term capital gains in your taxable account. The other was to watch out for what I call "taxphobia."

I'm not saying that this applies to p8ntbal, but there are people so obsessed with paying less tax that they fall prey to one of the countless schemes and scams that are running around. Some are free, some cost you a bundle, and all get you in hot water with the IRS. Even though our mothers told us that if it sounds too good to be true it is, each of us is probably greedy enough to be tempted at one time or another. When that temptation strikes with respect to taxes, www.quatloos.com is an excellent debunking source.

I'm so sorry to hear that rehobothfool is still upset about our encounter. She thought I dissed her because she's a woman when I was less than gentle in responce to her saying, in message 50607, "I found out that you can't fund a regular IRA AND a SIMPLE IRA in the same year." I may have been having a bad day--I doubt it--but if I had a nickel in my pocket for every time in the last 30 years that I've had to disabuse people of "facts" that had to be true because "_____ told me," I'd also have a hernia.

For those who like my way of putting things, it's not likely to change until I'm drooling on myself, which could be any day. For those who don't like it, that's why God and the Fool invented the little frowny face next to the author's name on every post. Click it and poof, the author's offending words disappear from your view.

Phil Marti
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