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Talking stocks, trading, and investing in general

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cross22

cross22

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I doubt you really mean high 5 figures still owed. That would be like 90k withholding shortage despite standard W4 withholding when 99% of income is from W2.

But yeah, extra withholding per paycheck is what I have been doing for many years. Also quarterly payments in case of large capital gains.
 
gettoasty

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certainly, taxes is not the end all be all. Such rich cash flow should be leveraged for other life pursuits much less worry about paying Uncle Sam. Alas, most people don’t think about it that way.

Same rationale for liking the idea of donation because of the deductions e.g., highly appreciated stocks up to 30%. But then turn around and be like those shares are no longer owned, hence, making the whole idea less desirable.
 
gettoasty

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cross22 said:
I doubt you really mean high 5 figures still owed. That would be like 90k withholding shortage despite standard W4 withholding when 99% of income is from W2.

But yeah, extra withholding per paycheck is what I have been doing for many years. Also quarterly payments in case of large capital gains.
Click to expand...
How about 61k?

Thanks for your input!
 
cross22

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gettoasty said:
How about 61k?

Thanks for your input!
Click to expand...
Yeah actually you are right, I was thinking that level of compensation won't be in salary (and thus W2) but bonuses, commissions, RSUs, etc all get included in the W2 so it's totally doable. That bill sucks, got to deduct the equivalent of an extra 5k a month from your paycheck.
 
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