Bruce's Journal

Bruce Slutsky was born in New York City in 1949. I retired six years ago after working as a Science/Engineering Librarian at the New Jersey Institute of Technology in Newark for 25 years. I was married to Karen until she passed away in February 2021. I have a son Lee who is now 35 years old. I am very much interested in the popular music of the 1960s, especially Bob Dylan and the Beatles. I am interested in rock and roll radio. I am an enthusiastic fan of the New York Mets.

Monday, May 21, 2018

Thinking of Taxes in May

I am the Taxman and you are working for no one but me.

Since I retired I get income from TIAA (my pension) and Social Security every month. I indicated a certain amount of New York State and federal taxes to be deducted from TIAA, but I can't get anything deducted from Social Security. In February I received a payout for unused sick time over 25 years. I was concerned that I had too little withheld this year, so I consulted with my accountant today. He suggested that I send estimated taxes to the state and federal governments in June, September, and January. This way I would not get hit with a big tax bill in 2019. I was also afraid that I could get a big penalty if I underpaid.