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The Water Cooler
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What Pissed You Off Today?
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<blockquote data-quote="tRidiot" data-source="post: 3443247" data-attributes="member: 9374"><p>RIGHT NOW, it's taxed at a much HIGHER rate in respect to what is held out. Meaning Uncle Sam gets an interest-free loan from my bank account, which is coming from a loan I took out and have to pay back. It's a ridiculous mess. And I can't pay it back early - I wanted to just forego the whole thing, but I can't. I took the money when it was offered, held it in reserve (for 6 months now), but have to disburse it to myself or the business gets taxed on it. So I get to pay the tax as personal income, but I have to pay it back next year in the form of reduced reimbursement. So... yay, me.</p><p></p><p>Also found out today, this is probably going to hurt me in trying to negotiate a restructuring of my mortgage. Great...</p></blockquote><p></p>
[QUOTE="tRidiot, post: 3443247, member: 9374"] RIGHT NOW, it's taxed at a much HIGHER rate in respect to what is held out. Meaning Uncle Sam gets an interest-free loan from my bank account, which is coming from a loan I took out and have to pay back. It's a ridiculous mess. And I can't pay it back early - I wanted to just forego the whole thing, but I can't. I took the money when it was offered, held it in reserve (for 6 months now), but have to disburse it to myself or the business gets taxed on it. So I get to pay the tax as personal income, but I have to pay it back next year in the form of reduced reimbursement. So... yay, me. Also found out today, this is probably going to hurt me in trying to negotiate a restructuring of my mortgage. Great... [/QUOTE]
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