Not exact matches
The short - term spending
bill, while not nearly as
large or as contentious as the
tax reform, was nonetheless critical to
avoiding what could have been a disastrous government shutdown over the holidays.
I * think * to the best of my understanding, I will have a decently
large tax bill coming that I'll need to drop money in an RRSP to
avoid.
It can make sense to go with income based repayment now, but you need to plan ahead to
avoid being stuck with a
large tax bill later.
In this way, your beneficiary would have the potential to stretch the distributions over his or her own lifetime, which enables the funds to continue compounding
tax deferred for a longer period and
avoids a
large initial
tax bill.
«Universities that wish to
avoid saddling their graduate students with
large tax bills therefore have an easy way out.
Although this method will
avoid a penalty for underpayment of estimated
tax, if you earn substantially more income in 2001, you may have a
large tax bill when you file your return.