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To: patron_anejo_por_favor who wrote (156585)	3/21/2002 2:57:28 PM
From: Tommaso	Respond to of 436258

No kidding. Although I had arranged to have extra taxes witheld, way more than enough to prevent penalties, I will be writing the Feds a check for more than the new car I bought my wife some time back. I myself drive a 1995 Tercel, which is worth less than the extra taxes I have to send to the STATE. It did just occur to me that all those whopping state taxes will be totally deductible on next year's federal income. Decided against any tax shelters because the government(s) always have the power to retroactively change the conditions for these--and they also know exactly where the money is. Years ago I was in what was called a 403b, where initially I had the right to take any amount of money out at any time and just pay income tax on it. As IRAs were invented, the much more restrictive rules for IRAs were applied to the 403b accounts. I bet any time they wanted to the government could forcibly convert all ordinary IRAs to Roth IRAs and collect the taxes on the conversion. Or do it a little at a time. So I prefer just to pay what's due.