Saturday, January 31, 2009

Taxes...CRAP!

Just did my taxes for the year, and I'm PISSED! Turns out I fall into the "Highly Compensated Individual" category, and I'm capped at $5000 for my IRA. So I have to pay a freakin PENALTY for saving TOO MUCH! Then since I put it into a 401(k), if I take it out to get rid of the penalty, I get clobbered with a shitload of other taxes and penalties.
Yeah, I know, "Consult A Tax Expert before You Proceed", but you'd think your employer would make you aware of this shit before encouraging you to sign up for the max.
I dropped my contribution to the level that will contribute $5k, and I'll worry about it later.
Makes you want to just stuff it in a mattress.....
And yes, I count my blessings, and I'm extremely grateful I even have a job in this climate. I just wonder how much Dear Leader MAObama will be jacking up the taxes on people like me so he can "Spread The Wealth".....