[net.taxes] taxes on interest

dave (01/22/83)

I was a bit bothered by the fact that good old uncle sam will
be taking my interest away from before it's time.  What must
I do to keep from having my interest deducted, thus loosing
the compounding effect, or is there magic involved here?

				Dave Cohrs
				seismo!uwvax!dave

gear (01/25/83)

#R:uwvax:-73200:uiucdcs:13200005:000:200
uiucdcs!gear    Jan 25 08:36:00 1983

Unless you fall into a small category, you probably can't stop then
taking the 10%, but you can reduce your witholding or estimated tax
payments by a like amount and invest that to offset the effect.