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Brown Cafe UPS Forum
UPS Retirement Topics
Pension taxes
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<blockquote data-quote="Gixxer2003" data-source="post: 4782081" data-attributes="member: 78049"><p>Do you pay your taxes on your own federal and state can you tell me what its like I elected to not have any money taken out of my pension my plans were to pay them myself reason be its my only income what if i need extra money one month I figured i could take from the account i use to save for my taxes then catch up next month. If this ever came to me. Well a year has gone by and its tax time. I played around with the numbers a little bit on turbo tax software and the irs is looking for some money from me. If you can share with me how to handle this i would appreciate it. I think this year I’m just gonna let the bank take taxes out and i will have to live on whats left. I may have to mow lawns and walk some dogs to break even but at least the taxes will be paid. But i have 2020 to deal with any info will be greatly appreciated</p></blockquote><p></p>
[QUOTE="Gixxer2003, post: 4782081, member: 78049"] Do you pay your taxes on your own federal and state can you tell me what its like I elected to not have any money taken out of my pension my plans were to pay them myself reason be its my only income what if i need extra money one month I figured i could take from the account i use to save for my taxes then catch up next month. If this ever came to me. Well a year has gone by and its tax time. I played around with the numbers a little bit on turbo tax software and the irs is looking for some money from me. If you can share with me how to handle this i would appreciate it. I think this year I’m just gonna let the bank take taxes out and i will have to live on whats left. I may have to mow lawns and walk some dogs to break even but at least the taxes will be paid. But i have 2020 to deal with any info will be greatly appreciated [/QUOTE]
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