Why are People So Hung Up on the Size of Their Tax Refunds?

[spacejamz]

I will admit I used to be in that camp also...People should realize that the bigger your refund is, the more the government had of YOUR money until you file your return. It also means that you probably should adjust your filing status so your refund (or what you owe) is as close to zero as possible...

It would be a good thing if people were doing this as a way to force them to save money (since they might spend it each month), but seeing a few "How are you gonna spend your refund" threads, that probably isn't the case...

 

[notfred]

Refund? That would be nice, wouldn't it.

 

[OS]

Originally posted by: spacejamz

I will admit I used to be in that camp also...People should realize that the bigger your refund is, the more the government had of YOUR money until you file your return. It also means that you probably should adjust your filing status so your refund (or what you owe) is as close to zero as possible...

It would be a good thing if people were doing this as a way to force them to save money (since they might spend it each month), but seeing a few "How are you gonna spend your refund" threads, that probably isn't the case...

simple, everyone wants more money in their hands where ever they can

 

[leftyman]

to some people the bigger the better

 

[BigJ]

If I had the extra money, I probably would've blown it anyway.

This way, it's a nice suprise and helps me pay off some bills and what-not.

 

[Jpark]

Originally posted by: BigJ
If I had the extra money, I probably would've blown it anyway.

This way, it's a nice suprise and helps me pay off some bills and what-not.

my thoughts as well.

 

[Schfifty Five]

Why do you have to:

1. Hit a carriage return at the start of your post

2. Type all capitol letters for the first letter of each word in your thread title?

 

[spacejamz]

Originally posted by: leftyman
to some people the bigger the better

if they adjusted their W4 filing status, they would a bigger paycheck each month...

 

[iamwiz82]

Originally posted by: Jpark

Originally posted by: BigJ
If I had the extra money, I probably would've blown it anyway.

This way, it's a nice suprise and helps me pay off some bills and what-not.

my thoughts as well.

Yep. the extra few bucks per pay period would just end up disappearing, rather than having a nice little lump sum every year. the extra .5% interest really isn't going to make or break me, either.

 

[ngvepforever2]

well...I am happy because 99 % of my refund is from done deduction (lifetime learning credits) and I am a broke college student. I am pretty sure...once I graduate my refund is going to be jack...

Regards

ng

 

[LordSnailz]

sorry, noob question, just recently bought a house last year, and I adjusted my allowances. Is there an online calc. that can estimate my tax return?

Guess, I can always go through the whole turbo tax process ...

 

[optoman]

It is better to get a refund than to owe. If it came out to zero then that would be nice but the chances of that happening are slim.

 

[Mr N8]

Originally posted by: optoman
It is better to get a refund than to owe. If it came out to zero then that would be nice but the chances of that happening are slim.

My state and fed last year totaled just under $100. I thought that was pretty good planning. This year is was a lot more because of a certain unexpected child being born. I don't regret it one bit, just stating that it changed my financial situation.

 

[JS80]

If refund is > 0 you lose. If you have to pay the gov't in the end, you win.

 

[DVK916]

Some people love lending the goverment money interest free.

 

[Fireball77]

you guys are getting refunds.......damnit

 

[trmiv]

I know it's not supposed to be good to get a large refund, but I honestly don't care. If I had the money during the year, I'd likely waste it on stupid crap. I'm not a saver, shoot me. We will probably get a nice refund this year, and it will help pay for a nice vacation to Jamaica.

 

[Dedpuhl]

Originally posted by: Jpark

Originally posted by: BigJ
If I had the extra money, I probably would've blown it anyway.

This way, it's a nice suprise and helps me pay off some bills and what-not.

my thoughts as well.

That's the way I do it. This year, I overpaid $2000. $77/check is not gonna break me....and I lack the willpower to save money

 

[AdamSnow]

I'd love to get a refund...

 

[FoBoT]

i am going to file a new W-4 as soon as i get my refund, with the purchase of our house last year and other stuff, our refund has ballooned right up there. i want to keep some of that money up front

 

[spacejamz]

Originally posted by: AdamSnow
I'd love to get a refund...

1) Adjust your W4 so they withhold more $$ from your paycheck then...
2) ...
3) Profit!!!!

 

[acemcmac]

Apparantly the Mod's aren't hung up on it at all

 

[Heifetz]

instead of paying more taxes than you should, adjust your w4, have some part of your paycheck direct deposited to a savings account, pay off whatever you owe in taxes at the end of year, enjoy the extra interest you earned.

 

[spidey07]

because people love to throw away money?

 

[dabuddha]

Yeah this year I was pleasantly happy. Only owe about $80 federal and $40 state.

/me pats himself on the back