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Old 07-07-2017, 07:53 AM
 
335 posts, read 334,850 times
Reputation: 258

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Quote:
Originally Posted by flamadiddle View Post
well shazam! they got Internet down there in Alpharetta? j/k
Yes, they just got internet and indoor plumbing last week
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Old 07-07-2017, 08:16 AM
 
Location: Sweet Home Chicago!
6,721 posts, read 6,495,848 times
Reputation: 9915
Quote:
Originally Posted by MSchemist80 View Post
I just increased my traditional 401k contributions to maximum to stick it to the Illinois govt. I'll also be opening a roth IRA for my bonds or REITS.
hmm, interesting thought. Does that really help much? Always interested in creative ways to minimize taxes. I guess every little bit helps...
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Old 07-07-2017, 10:07 AM
 
748 posts, read 834,823 times
Reputation: 508
Quote:
Originally Posted by flamadiddle View Post
hmm, interesting thought. Does that really help much? Always interested in creative ways to minimize taxes. I guess every little bit helps...
It gets out of paying taxes now, and IL actually doesn't tax certain types/ amounts of retirement income: Does Illinois tax my pension, social security, or retirement income?

Of course, you'd never hear that from the chorus of the never-taxers.
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Old 07-07-2017, 10:59 AM
 
Location: Chicago
6,160 posts, read 5,722,919 times
Reputation: 6193
Quote:
Originally Posted by flamadiddle View Post
hmm, interesting thought. Does that really help much? Always interested in creative ways to minimize taxes. I guess every little bit helps...
I do it to decrease my student loan payments. When you contribute to a retirement plan, it decreases your gross income, thus making your taxable income lower.
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Old 07-07-2017, 11:08 AM
 
Location: Sweet Home Chicago!
6,721 posts, read 6,495,848 times
Reputation: 9915
Makes sense, just maxed mine out too. I guess I can thank Illinois for forcing me to beef up my retirement funds.
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Old 07-07-2017, 11:15 AM
 
Location: broke leftist craphole Illizuela
10,326 posts, read 17,446,321 times
Reputation: 20338
Quote:
Originally Posted by flamadiddle View Post
hmm, interesting thought. Does that really help much? Always interested in creative ways to minimize taxes. I guess every little bit helps...
It is pretty much all I can do. At least with Cook Co sales and soda I can shop online and in DuPage Co. Property taxes I can rent with a room mate to dilute it a bit. Eventually though I would love to leave this Dem controlled cesspool behind and move south. I hate the Democratic party and Illinois Govt more than anything.

Family and Job are the only reason I don't though I am getting more and more tempted.
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Old 07-07-2017, 02:57 PM
 
Location: Saint John, IN
11,582 posts, read 6,747,418 times
Reputation: 14786
Quote:
Originally Posted by Taco1234 View Post
Moved into our home in Alpharetta today! Just missed the shining new budget


Congrats on getting out of Illinois!! When we moved from Illinois last year I wondered if we did the right thing. I have long since realized "YES" it was absolutely the best for my family!
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