Friday, August 14, 2009

Changed my W-2

It's always a challenge to try and stay one step ahead (legally) of the KGB I mean IRS. I have recently changed my W-2 at Job #2 so that hopefully having more $ taken out from here on out will soften next year's tax bill. Having a second job really hurts a gal, as far as the tax bill is concerned.

Reasons to be optimistic:
  1. I have never adjusted my W-2 ever since I started working a second job back in 2007
  2. I continue to max out my FSA at work (a measly $1,500, but still, every penny counts)
  3. I did not do any skin care classes this summer at the public library, so will not be "punished" for that extra income
Reasons to be a little worried come April 2010 anyway:
  1. S didn't work 8 months last year and this year he was employed all year; hence his income will be a lot higher
  2. I contributed only the bare minimum (well, with a .05% on top of that because I like round numbers!) to my 403(b)--but I did that last year too since I was the only one working and we needed all the cash we could get at the time for living expenses and frankly, I am gonna keep this up anyway and open a Roth IRA as soon as is humanly possible! I'd rather pay the taxes now than when I retire anyway since I do expect to have my income keep going up, up, up...

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