Originally Posted by
e6bpilot
I have just decided to adjust my withholding down (not exempt since I don't want to pay penalties) and then see where I need to go from there in March. I have also decided to hire a tax professional and a money "guy" and stop being a DIY sucker. Seeing how much I paid the government this year (spent the full year as a captain who flies a little extra, not a lot) has made me realize that in looking around for the sucker, he was sitting right here all along. I am paying my marginal rate on my straight income like an idiot when I could be avoiding at least some of this and probably putting it into an investment that is going to net me something later.
I think I am officially in the "first world problems" era of my life.
I have went through several “money guys,” and honestly the advice they gave is what I already have been doing. That’s of course unless you have a business and a savy accountant that can help you get the max deductions towards that business. The reality is you will pay taxes and to try to dodge them without a business to help you reduce your tax liability is hard.