paying about 2200. Was hoping to have another dependant this year, but that fell thru, I never received a SS number for my dog.
Originally posted by: smc13
Originally posted by: purbeast0
Originally posted by: smc13
You do realize that getting a refund isn't a good thing, right? Essentially, you gave an interest free loan to the government. If you owe the government more then $1000 they might fine you to make up for their lost interest. We should be able to do the same when the government owes us lots of money. After all, it is our money.
People need to learn more about economics. It is better to have less taken out from each paycheck and get no refund then it is to have less throughout the year and get one big lump payment at tax time. Money now is better then money later.
To bad we can't just scrap the tax code and go to a system that says you made this much so you owe that.
i disagree. i personally would rather get more taken out each check and adapt to living with that income, then get this bonus check out of nowhere that can pay for my summer vacation to exotic locations.
if i were to get less taken out, i would just adapt to my higher income every check and probably end up not saving it (as basically i am forced to do and get it back in the form of a tax refund).
So what you are saying is that you would rather the government take more of your money each paycheck because you don't manage your money well. You do realize that if you took a portion of your paycheck each week and simply put it into a savings account, you would have more money in your account at tax time then you get from your refund. Or you could have money automatically taken out and put into a 401K to save for retirement.
Personally, I like having more money during the year.
Originally posted by: smc13
You do realize that getting a refund isn't a good thing, right? Essentially, you gave an interest free loan to the government. If you owe the government more then $1000 they might fine you to make up for their lost interest. We should be able to do the same when the government owes us lots of money. After all, it is our money.
People need to learn more about economics. It is better to have less taken out from each paycheck and get no refund then it is to have less throughout the year and get one big lump payment at tax time. Money now is better then money later.
To bad we can't just scrap the tax code and go to a system that says you made this much so you owe that.
Originally posted by: CTrain
Before I click on this thread I knew some tax refund nazi was gonna come in here and talk about how the government is keeping your money interest free, blah, blah...
Most people already know this and couldn't really give a crap about it.
Like many have said, they don't miss the extra $25 that are taken away every paycheck.
As far as interest goes, its so minimal.
Unless, you're getting like >$10K, the interest is very small.
Most people are getting ~$1K, if you were to put that in ING, you're looking at about $30 of interest but since you don't actually put the entire $1K from the beginning, you're getting about $20.
Originally posted by: alkemyst
Originally posted by: CTrain
Before I click on this thread I knew some tax refund nazi was gonna come in here and talk about how the government is keeping your money interest free, blah, blah...
Most people already know this and couldn't really give a crap about it.
Like many have said, they don't miss the extra $25 that are taken away every paycheck.
As far as interest goes, its so minimal.
Unless, you're getting like >$10K, the interest is very small.
Most people are getting ~$1K, if you were to put that in ING, you're looking at about $30 of interest but since you don't actually put the entire $1K from the beginning, you're getting about $20.
You obviously don't have much experience in this. It has nothing to do with savings and ING whatever. That money can be applied to mortgages, loans, etc which gives you a much greater yield than simple savings.
Yet alone if one has any kind of revolving credit cards....
Originally posted by: CTrain
Good lord, another tax refund nazi.
First of all, you know nothing agout the financial situation of these people.
Do know know for a fact that these people are needy of that extra $500-$1000 during the year ??
From the replies, most people are getting $600-800 back, which equate to about $16 per week.
Yeah, I can see it now, that extra $60 per month was going to get much greater yield when applied to loans, mortgage, etc...
You know, if I ever start getting >$5K refund every year, maybe I'll look into not deferring so much from my paycheck but as of now, the government can invest the extra $20 every week as they please.
Originally posted by: alkemyst
Originally posted by: CTrain
Good lord, another tax refund nazi.
First of all, you know nothing agout the financial situation of these people.
Do know know for a fact that these people are needy of that extra $500-$1000 during the year ??
From the replies, most people are getting $600-800 back, which equate to about $16 per week.
Yeah, I can see it now, that extra $60 per month was going to get much greater yield when applied to loans, mortgage, etc...
You know, if I ever start getting >$5K refund every year, maybe I'll look into not deferring so much from my paycheck but as of now, the government can invest the extra $20 every week as they please.
Let's see call names, nazi even...makes you right...nice and big feeling I guess
Read you own writings and think if that mattered why are you giving advice then...what if they are getting $1000's back....regardless it makes no difference, but you are too clueless to understand. There is a reason people go to tax pros...your advice has a lot to do with it.
You are never deferring any money from a paycheck if you are doing your taxes right...you either get back a false savings at the end of the year, owe money, or break even.
that little $20 a week compounds to a hell of a lot over a lifetime you realize.
you do realize right?
right?