So............this happened to me today

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Well, they really weren't implusive --I have had my eye on them for a bit now. I had decided I wasn't going to splurge this year but.....that didn't work
 
Whenever I’ve played with my withholding, I ended up owing the Feds. So I just leave it alone.
 
With what the banks pay for interest, that little extra pay check once a year sure is nice. It costs me maybe a dollar or two in lost interest. Big deal. But get it the other way around, loose a paycheck to cover the taxes, that really hurts.
 
If you get that much money back in your tax refund, you are having too much taken out of your paycheck in withholding tax. The government sure isn't paying you interest on all of that "free money" they have held and spent for the past year.

I try to set up a decent refund each year. It is sorta my savings plan. I got burned once and had to pay penalties for underpayment and that sux. Interest rates are so low now, it really makes little difference and I know I won't get a penalty.
 
refund?
 
My goal (and admittedly some years it works out better than others) is to end up with my taxes paid over the year to be as close as possible to the total taxes owed. Ideally, I "shoot for" ± $250. This year, I hit that goal and will be getting a small refund (but it does beat paying).
 
I usually use my refund for my yearly trips...but I just found it funny that I go shopping for a silly mask strap and ended up buyin the things I have my eye for a while. I usually have pretty good resolve, but this tax season was a pretty healthy one for me

I will always have it set up where a little bit more comes out that way I do not have to pay at the end of the year. Only have a few years left to take advantage of the EIC.
 
My goal (and admittedly some years it works out better than others) is to end up with my taxes paid over the year to be as close as possible to the total taxes owed. Ideally, I "shoot for" ± $250. This year, I hit that goal and will be getting a small refund (but it does beat paying).
My goal is to pay no taxes. I am self employed and try not to work very much. But sometimes clients find me and I end up owing. I always wait until the last moment to submit. My most satisfying gig was one with the government as my client. It felt like I got all of my tax dollars back that year..maybe that was just wishful thinking?
 
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