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  Topic: Save paying tax on consultant income
joseph2

Replies: 11
Views: 23526

Post image iconForum: Taxes   Posted: Wed Aug 20, 2014 12:52 am   Subject: Save paying tax on consultant income
I actually like the idea of holding onto my money longer. I have the least amount deducted from my paycheck, but my itemized deductions usually result in getting money back. I do my own taxes because ...
  Topic: Pay student loan or add to retirement?
joseph2

Replies: 16
Views: 21824

Post image iconForum: Personal Finance   Posted: Wed Aug 20, 2014 12:40 am   Subject: Pay student loan or add to retirement?
I am an English professor, so I have to start by saying how much I love the simile "student loans are like herpes or luggage: it's forever, and it just gets uglier over time." I may just use that as a ...
  Topic: Save paying tax on consultant income
joseph2

Replies: 11
Views: 23526

Post image iconForum: Taxes   Posted: Mon Aug 18, 2014 6:17 pm   Subject: Save paying tax on consultant income
Thank you for the reply.

The consulting gig was a one-time thing. I was paid $20,000. I spent $5,000 on a home repair project and the remaining is in my MM account.

I don't know if I will get ...
  Topic: Save paying tax on consultant income
joseph2

Replies: 11
Views: 23526

Post image iconForum: Taxes   Posted: Mon Aug 18, 2014 5:02 pm   Subject: Save paying tax on consultant income
I will look into the IRA option.

The financial advisor at the bank recommend a SEP IRA, but they charge a fee--I think he said it was a front load fee. On the one hand, I understand that I am aski ...
  Topic: Pay student loan or add to retirement?
joseph2

Replies: 16
Views: 21824

Post image iconForum: Personal Finance   Posted: Mon Aug 18, 2014 4:57 pm   Subject: Pay student loan or add to retirement?
First, to clarify--I am a woman. My dad wanted a boy. Smile

To answer your questions:

1. I am a college professor--four degrees. The amount of my loan reflects that at the age of 20 I was left wit ...
  Topic: Pay student loan or add to retirement?
joseph2

Replies: 16
Views: 21824

Post image iconForum: Personal Finance   Posted: Mon Aug 18, 2014 12:58 pm   Subject: Pay student loan or add to retirement?
Thanks! I didn't think about the bankruptcy issue. This was helpful.
  Topic: Save paying tax on consultant income
joseph2

Replies: 11
Views: 23526

Post image iconForum: Taxes   Posted: Mon Aug 18, 2014 12:14 am   Subject: Save paying tax on consultant income
I just finished a consulting job. My first one. The client paid me in full--they did not deduct any taxes but did complete the required forms. I have been advised to save a least half of what I earned ...
  Topic: Pay student loan or add to retirement?
joseph2

Replies: 16
Views: 21824

Post image iconForum: Personal Finance   Posted: Sun Aug 17, 2014 11:56 pm   Subject: Pay student loan or add to retirement?
I am 43 years old and earn $62,000 a year. I have a mortgage but no car loan or credit card debt. I have a year's worth of income in a MM account.

I have $80,000 in student loan debt. My payment ...
 
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