taxes
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I pay child support, and even though I pay child support, they still take my taxes whenever I get money back.. So its easier to pay, then to know I am getting money back but State of N.M. will take it...
Unlike most people I guess, I perfer the money throughout the year, then blow it on useless crap in February/March. so, I increase the exemptions on the W4 which equal lower montly tax outlay.
Remember, if you get alot of money back, it is an interest free loan to the government! Why pay into something that you will get back a year later w/out interest???? Just put that same amount of money into a savings account or even a 12 month cD that will yield 5-6% and YOU get the money instead of the Government.
The whole goal of the tax return is to get $0 or pay VERY little in or VERY little out. My dad got into trouble with the IRS for taking 0 exemptions on the W4 and paying in nearly $60k in taxes and getting a $30k refund. The IRS adjusted it FOR him the next year.
Don't forget, that the AMT has been repealed, but will push back a lot of returns being paid on until March/April and may take longer to get your check.
So, even if you file in January and you were in the orignal AMT bracket (like I am), then your return will be delayed!
Unlike most people I guess, I perfer the money throughout the year, then blow it on useless crap in February/March. so, I increase the exemptions on the W4 which equal lower montly tax outlay.
Remember, if you get alot of money back, it is an interest free loan to the government! Why pay into something that you will get back a year later w/out interest???? Just put that same amount of money into a savings account or even a 12 month cD that will yield 5-6% and YOU get the money instead of the Government.
The whole goal of the tax return is to get $0 or pay VERY little in or VERY little out.
I increase my exemptions so I don't get anything back or put anything in.
Unlike most people I guess, I perfer the money throughout the year, then blow it on useless crap in February/March. so, I increase the exemptions on the W4 which equal lower montly tax outlay.
Remember, if you get alot of money back, it is an interest free loan to the government! Why pay into something that you will get back a year later w/out interest???? Just put that same amount of money into a savings account or even a 12 month cD that will yield 5-6% and YOU get the money instead of the Government.
The whole goal of the tax return is to get $0 or pay VERY little in or VERY little out. My dad got into trouble with the IRS for taking 0 exemptions on the W4 and paying in nearly $60k in taxes and getting a $30k refund. The IRS adjusted it FOR him the next year.
Don't forget, that the AMT has been repealed, but will push back a lot of returns being paid on until March/April and may take longer to get your check.
So, even if you file in January and you were in the orignal AMT bracket (like I am), then your return will be delayed!
Wow I am impressed someone sees the light. I am a Financial Advisor and I harp on this all year. Stop giving the GVT your hard earned money!


i cant wait lol
who is getting paid and whos not
lol iam getting at least 4000 back
.... what yall going to do with yall taxes????


