Cashing out a mutual fund and owing the IRS?
September 16, 2009 by admin
Filed under Questions and Answers
Alyssa asked:
I cashed out a $6,000 mutual fund and know I will owe a lot on my 2008 taxes. How can I start “paying back” the IRS now to avoid dept in April? I’ve started contributing more to my 401K to lower my taxable income and I’ve increased my W4 contributions to claim 0 and take out $50 extra per pay check. Any other suggestions?
Create a video blog…instantly.
I cashed out a $6,000 mutual fund and know I will owe a lot on my 2008 taxes. How can I start “paying back” the IRS now to avoid dept in April? I’ve started contributing more to my 401K to lower my taxable income and I’ve increased my W4 contributions to claim 0 and take out $50 extra per pay check. Any other suggestions?
Create a video blog…instantly.