Tax Help

zappasguitar

zappasguitar

Well-known member
I got what I feel is some bad info yesterday and need a little bit of advice

Are 401K's and IRA's tax shelters?
 
very limited ones....they defer tax on the income until you withdraw the money from the IRA......they defer tax, not eliminate it.......if you want a tax shelter you should look at something like municipal bond funds....
 
or you could use the Dude's approach......you buy stock and then sell if for less than you paid for it........the losses offset your income and you don't have to pay taxes......
 
PostmodernProphet said:
or you could use the Dude's approach......you buy stock and then sell if for less than you paid for it........the losses offset your income and you don't have to pay taxes......
Click to expand...

Wow desperation
You can go 72t and basically get dividends out without penalty before 59
This allowed me to shelter triple the 25,000 I was doing as a worker
 
Don't be fooled by the troll. Zappas is trolling here because ILA claimed these were tax shelters and Zappas ran all over the board chasing ILA about this issue and has now created a thread about it solely to rile ILA because ILA put him on ignore, so Zappas created a thread to get attention.

Troll.
 
Konono said:
Don't be fooled by the troll. Zappas is trolling here because ILA claimed these were tax shelters and Zappas ran all over the board chasing ILA about this issue and has now created a thread about it solely to rile ILA because ILA put him on ignore, so Zappas created a thread to get attention.

Troll.
Click to expand...

Really?

Why, just yesterday,

IHA was busy claiming IRA's and 401K's were NOT tax shelters.

THIS is why I started this thread, to clear up any erroneous information that may have gotten out there.

Sadly, facts appear to be the LAST thing that shit-stirring little trolls like Yo-Konono are interested in.
 
PostmodernProphet said:
so what you're saying is, he was right but you were too stupid to believe him........you must be some sort of dumbfuck liberal........they do the same thing all the time........
Click to expand...

As usual, you aren't paying attention and you got it all wrong.

What I am saying is, during our discussion yesterday, I thought to myself a number of times that he must be wrong, but he denied it vehemently.

I had some more questions for him, but for some reason he had the thread closed.

I started a new thread and thankfully you cleared up any lingering questions I might have had.
 
PostmodernProphet said:
and why do you think they were.....as I pointed out they merely defer tax......you even thanked me for telling you the same thing......
Click to expand...

I asked if 401K's and IRA were tax shelters and you stated they are.

I did some research online yesterday and every economist I read said the same.

The only person I spoke with yesterday who claimed they weren't tax shelters was IHA.
 
Konono said:
Don't be fooled by the troll. Zappas is trolling here because ILA claimed these were tax shelters and Zappas ran all over the board chasing ILA about this issue and has now created a thread about it solely to rile ILA because ILA put him on ignore, so Zappas created a thread to get attention.

Troll.
Click to expand...

I was right, Zappasguitar created this thread because he is butthurt ILA is ignoring him.

#WINNING
 
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