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Post by outahtowner on Feb 12, 2015 13:31:13 GMT -5
What's more beneficial? Should you put your profit sharing into your TESPHE, pay the taxes on it with your weekly checks, then take out a loan on it? Or just recieve your profit sharing in cash?
I was thinking of putting all in TESPHE.
What do you do with your profit sharing and what makes it more beneficial?
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Post by brizzel on Feb 12, 2015 14:04:41 GMT -5
Either way you will be paying taxes. If it all goes in tesphe, the following week taxes come out. Taking out a loan, you will pay yourself interest back. Just change your dependents to 99 and tell the IRS to suck it!
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Post by fordlapworker1993 on Feb 12, 2015 16:09:12 GMT -5
I only did the 99 thing 1 time about 4 years ago. I've been told it doesn't work anymore??? not sure
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Post by jobs1stb4polarbear on Feb 12, 2015 20:43:45 GMT -5
Loan....pay yourself the interest....no expert here, but be careful how much of the profit sharing goes into TESPHE....Local and State tax comes out your next pay check I believe ....make sure you have enough to cover that.
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Post by oh2ky on Feb 12, 2015 21:55:18 GMT -5
I only did the 99 thing 1 time about 4 years ago. I've been told it doesn't work anymore??? not sure It didnt work for me a couple years back on the transfer bonuses. |
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Post by turk182 on Feb 15, 2015 12:05:52 GMT -5
With the loss of COLA and no raises for 13 years and no O.T., who can afford to put their profit sharing in tesphe? If you can,good for you!I realize younger people have only a 401k to look forward to for retirement but you have to survive till then.My heart goes out to young people these days. I would'nt know what advise to give a young guy or girl.Go to college and bury yourself in debt for the rest of your life? Military? Factory slave? God help them...
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Post by Ex-metalman on Feb 15, 2015 13:11:59 GMT -5
Mine would be start buying homes no matter what size or price..you will ALWAYS make money ..And the service has advantages as well 20 yrs and you're set for life..I couldn't take the BS and ass chewings though .
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