BobTheTaxMan

BobTheTaxMan  …And is it really worth cashing in all this dinar and ending up with this huge amount of capital and finding yourself under the gun scope of the IRS.  If you have an exorbitant amount of income that show up, I mean a great big chunk, you can justify it, that’s not the problem at all, but I promise you if they audit you and you have not paid your taxes on it they are going to hit you with penalties and interests And it’s going to be huge.  Just be aware.  If you take a lot out and your tax returns jump way up high you might set yourself up for an audit.  Plan on it.  It’s going to happen.  THREE:  One of the amazing blessing that’s come from 2018 to 2019 taxes is the simple fact that in the past Schedule A  which is where you put your itemized deductions and report your charitable contributions had limitations on it. [Post 6 of… ]

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