Comments on: State and Federal Income Tax Arbitrage http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 04:49:32 -0500 http://wordpress.org/?v=abc hourly 1 By: Frank fernandis http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/comment-page-1/#comment-78684 Frank fernandis Sat, 28 Jul 2007 04:45:20 +0000 http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/#comment-78684 The converse is also true. If you owe the state money in a calendar year, you can take it as an extra deduction against your federal income, since it was a state income tax paid. The converse is also true. If you owe the state money in a calendar year, you can take it as an extra deduction against your federal income, since it was a state income tax paid.

]]> By: Minimum Wage http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/comment-page-1/#comment-78152 Minimum Wage Sun, 17 Jun 2007 07:08:26 +0000 http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/#comment-78152 And to think I've been paying taxes the hard way all these years. Is this a great country or what? And to think I’ve been paying taxes the hard way all these years.

Is this a great country or what?

]]> By: CPA1298 http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/comment-page-1/#comment-78149 CPA1298 Sat, 16 Jun 2007 19:13:21 +0000 http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/#comment-78149 Brok - 25 exemptions is aggressive. I use 12 exemptions, and it knocks down my withholding pretty well. I've read that 12 is the most you can submit on a W-4 without providing additional information. I plan on owing $12k - $15k in taxes next April, interest/penalty free. Brok – 25 exemptions is aggressive. I use 12 exemptions, and it knocks down my withholding pretty well. I’ve read that 12 is the most you can submit on a W-4 without providing additional information.

I plan on owing $12k – $15k in taxes next April, interest/penalty free.

]]> By: broknowrchlatr http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/comment-page-1/#comment-78144 broknowrchlatr Fri, 15 Jun 2007 19:40:25 +0000 http://www.fivecentnickel.com/2007/06/15/state-and-federal-income-tax-arbitrage/#comment-78144 Great! don't cough oup the money till you have to. I do the same with federal. I set my exeptions to 25 (so I pay no federal tax) and then max out my 401k. Then, I use IRSs withholding calculator to calc and pay all my taxes in the last month of the year. Great! don’t cough oup the money till you have to.

I do the same with federal. I set my exeptions to 25 (so I pay no federal tax) and then max out my 401k. Then, I use IRSs withholding calculator to calc and pay all my taxes in the last month of the year.

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