So the cost of my debt is about $157 ($200 even) a month.
November = $200
December = $200
The taxes that I will pay to take $15,000 out in dividends this year to clear my debt are $15000 x 20% = $3000 (total approximation)
As BF pointed out, it may suck to wait, but it might be more prudent to wait until 2009 (January) to pay myself $15,000 in dividends, and save money on the taxes since working for a corporation earlier this year has already bumped me up above a couple of tax brackets.
*sigh* I really want to clear my debt in October, but paying an additional $2600 just because of my impatience to wait 2 months seems a bit silly.
Just a girl trying to find a balance between being a Shopaholic and a Saver.
I cleared $60,000 in 18 months earning $65,000 gross/year.
Now I am self-employed, and you can read more about 
Wait the 2 months, you’re too smart to do something silly at this point. 🙂
Hi there-I know what you mean, soo frustrating. But it is common sense, I suppose.