I'm getting a $2500 tax refund!

[BigToque]

w00t

 

[Brainonska511]

Why is that good? You basically gave an interest free loan to the government.

 

[Engineer]

Congrats......on loaning uncle George and the DC crew $2,500 interest free for the year!



Edit: Damn, you're in Canada...but what the hell, Uncle George probably borrowed it from Canada too!

 

[Syringer]

ytmnd

 

[loup garou]

So what is that, $30 US?

 

[dartworth]

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

Stop with stupid bullshit...

some people don't make the same amount of $ every week...

I know I don't...and I am not going to change my W-4 every week either...

 

[Engineer]

Originally posted by: dartworth

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

Stop with stupid bullshit...

some people don't make the same amount of $ every week...

I know I don't...and I am not going to change my W-4 every week either...

Why not have a very liberal W-4, take most of it home, save it and then pay at the end, keeping the interest for yourself? (Of course, you don't want to have it so liberal that you pay a penalty for too low of withholdings)

 

[Lumathix]

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

exactly.

 

[dartworth]

Originally posted by: Engineer


Why not have a very liberal W-4, take most of it home, save it and then pay at the end, keeping the interest for yourself? (Of course, you don't want to have it so liberal that you pay a penalty for too low of withholdings)

I can only speak for myself.

Most years, I get 10 W-2s and a 1099 from unemployment. On top of that work a lot of overtime. It is not worth my time to try an figure out what I should have taken out from week to week...

On a 40 hour job I am going Married 2...overtime I am going married 9...sometimes more.

 

[ultimatebob]

Yeah... You don't want to owe more than $1000, or you'll also have to pay penalties. You really don't want a refund, though, because that means that you're paying too much taxes from each paycheck.

 

[JDrake]

:thumbsup:

 

[BigToque]

Originally posted by: ultimatebob
Yeah... You don't want to owe more than $1000, or you'll also have to pay penalties. You really don't want a refund, though, because that means that you're paying too much taxes from each paycheck.

I think most of my refund is from interest paid on my student loans and money paid on tuition.

 

[swtethan]

spend it on nerdy stuff

 

[Cattlegod]

buy a 50+inch DLP TV

 

[alm4rr]

assuming that none of that refund is from credits.........

 

[Vich]

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

Can you explain this, i dont get it. Isnt it good that he is getting alot of $$ back?

 

[FelixDeCat]

Originally posted by: loup garou
So what is that, $30 US?

About enough for a few :beer:s

 

[Brainonska511]

Originally posted by: Vich

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

Can you explain this, i dont get it. Isnt it good that he is getting alot of $$ back?

You are getting money back because you paid too much in taxes. But the government does not give you interest for the excess money you paid them, so it is essentially an interest free loan to the government (while if you had the money during the year, you could invest it and make some more money off of interest from your investments).

 

[Vich]

Originally posted by: Brainonska511

Originally posted by: Vich

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

Can you explain this, i dont get it. Isnt it good that he is getting alot of $$ back?

You are getting money back because you paid too much in taxes. But the government does not give you interest for the excess money you paid them, so it is essentially an interest free loan to the government (while if you had the money during the year, you could invest it and make some more money off of interest from your investments).

Ah i see.

 

[BigToque]

Originally posted by: Brainonska511

Originally posted by: Vich

Originally posted by: Brainonska511
Why is that good? You basically gave an interest free loan to the government.

Can you explain this, i dont get it. Isnt it good that he is getting alot of $$ back?

You are getting money back because you paid too much in taxes. But the government does not give you interest for the excess money you paid them, so it is essentially an interest free loan to the government (while if you had the money during the year, you could invest it and make some more money off of interest from your investments).

I probably would have spent it on something useless over the year, so it's actually better for me

I'm putting it all towards my student loan.

 

[kogase]

I'm glad I gave an interest free loan to the government. This way I got a $800 refund. If I had that money last year it would all be gone now.

 

[Engineer]

Originally posted by: BigToque


I'm putting it all towards my student loan.

:thumbsup:

Lowering debt FTW!