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<blockquote data-quote="59 Dano" data-source="post: 5003060" data-attributes="member: 23516"><p>I worked with a guy who read somewhere about some other guy who would do that, invest the money, then pay whatever he owed when he filed. "It's a free loan that I can use to invest." There were a few problems, the main one being that the guy he read about had such a ridiculously huge income that even a smaller rate of return would be a nice chunk of money. </p><p></p><p>The second problem was that he figured it up wrong. He figured, correctly, that he'd have $X to invest for a year. But he didn't account for the fact that it came in 52 installments, and each installment would be invested for one week less than the prior one. </p><p></p><p> The third problem was that this guy was a bacha type. </p><p></p><p>He made a mess the first year and then made a bigger mess the second year by trying to overcome the first year. He was putting it in CDs that didn't earn much. Whatever he made from that was offset by all the IRS fees and penalties he got stuck with. Guy was a real piece of work.</p></blockquote><p></p>
[QUOTE="59 Dano, post: 5003060, member: 23516"] I worked with a guy who read somewhere about some other guy who would do that, invest the money, then pay whatever he owed when he filed. "It's a free loan that I can use to invest." There were a few problems, the main one being that the guy he read about had such a ridiculously huge income that even a smaller rate of return would be a nice chunk of money. The second problem was that he figured it up wrong. He figured, correctly, that he'd have $X to invest for a year. But he didn't account for the fact that it came in 52 installments, and each installment would be invested for one week less than the prior one. The third problem was that this guy was a bacha type. He made a mess the first year and then made a bigger mess the second year by trying to overcome the first year. He was putting it in CDs that didn't earn much. Whatever he made from that was offset by all the IRS fees and penalties he got stuck with. Guy was a real piece of work. [/QUOTE]
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