Mar 19, 2001
Taxes are essentially done, but I still will probably have a
Taxes are essentially done, but I still will probably have a look for a couple of extra credits. Doubtful since AMT disallows most any deductions you may have had. But I've already griped about that. Looks like I owe our greedy uncle about 75k this year (all of it due to imaginary income). Still it's better than last year - when I wrote out a check to the IRS for a quarter million. Think about that when you start griping that you only get a thousand or two back...
Could be much worse. The Mercury News ran an article last week about other folks who exercised options last year and worked for dot-coms that have since gone under. One lady is looking at a tax bill of 350k from imaginary income and has no funds to pay it, since her options are now worthless. Has to sell the house and cash out her 401k to pay taxes on money she never saw and never will. Ouch.
No votes
I'm definitely not in Omaha!

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