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Hello tax board. I need some input. First of all...I over-withold by not claiming my exemptions. I know it is really foolish, but:

By overwitholding, I have ended up with a pile of 'savings' at tax time. This has allowed me to open and max a Roth IRA for both dw and myself the past 2 years. (the silver lining)

For 2005, I expect to pay zero federal taxes. I will get back every penny that has been witheld and possibly more. To date, my fed WH is 8K which would max both RIRA's for 2005. I am now considering changing my double-you-whatever to claim my actual exemptions so that very little would be witheld for the remainder of the year. I would, in fact, automatically deposit the approximate 'savings' into an account to earn some interest on it. Perhaps an ING. Perhaps a 2005 Roth. I'm not sure.

I AM sure that I have become financially responsible enough to handle such an endeavor without pissing away the difference in my paychecks. I would hope to then be able to withold appropriately for ALL of 2006 and save/invest that additional net all year...assuming I prove the discipline for the rest of '05. Obviously, I have not worked out any details. I need help thinking through this and I figure you guys are just the ticket!

Thanks for any input.
who knows full-well how stupid it is to give uncle sam an interest-free loan, but does not practice what he preaches...yet!
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