/biz/ - Business & Finance

[Anouymons No.52435992]

>be me
>have always managed managed to pay off credit card statements in full, avoiding interest
>still owe $2040.76 by the end of this month
>doordash has been extremely slow lately
>have to put aside half of my pay towards a savings account just to pay taxes
>tfw may have to carry

[Anonymous No.52436092]

>>52435992
You mean DoorDash is slow to pay you? Just borrow from savings. The IRS penalty will be way lower than your credit card interest rate if they even notice.

[Anonymous No.52436166]

>>52435992
Half? Should be a third at most. Are you in California or some shit or are you not tracking your mileage/expenses?
Also like other anon said IRS interest rates is way lower than CC, don't carry

[Anouymons No.52436222]

>>52436092
>IRS penalty will be less than $70 (and slowly declining)

[Anonymous No.52436268]

>>52436166
Also a good point I missed. When I was contract to perm years ago I Rube Goldberged an Excel sheet to calculate what I should save and it's the same 30% anyone will tell you. OP you're saving too much already.
>>52436222
Honestly yes. https://www.irs.gov/payments/interest They're not even going to notice because you aren't due until January.

[Anouymons No.52436413]

>>52436166
>>52436268
Yes I'm stuck in Commiefornia and yes I'm tracking miles. I didn't start setting aside until late august, so I'm doing half to hopefully make up for it. Another intention is that anything remaining after paying taxes, if any, would go into finally starting a Roth IRA.

[Anonymous No.52436582]

>>52436413
How long have you worked there? The quarters are April, July, September, and the following January. Paying more later won't save you if you already owe an entire year's worth of quarters. But even there I think it's capped so the credit card debt is likely still your biggest enemy.