Ugh, just got all my tax forms. I'm now depressed about all the monies they've already taken out - and if last year is any indication - how much more they will be requiring of me. :weep:
Having kids and spending money on daycare, education, and a mortgage have seriously lightened my burden I am happy to say.
Thankfully for mortgage interest, I'll be getting back a few thousand that will help carry me over for a bit, until I can throw my last severance payment onto the Preppers pile in March.
No mortgage interest deduction here. But we do get a nice RRSP tax deferral.
My big beef is with the organization that asesses houses for property tax purposes. They have seriously inflated views about how much my house is worth. They assessed it at $1 million. Frankly, they are welcome to buy it at that price ... we have appealed.
Americans complaining they pay too much taxes. :lol:
You aint paying your fair share!
@Malthus, my house gain 18% year to year. My in laws a staggering 25%.
Quote from: garbon on January 25, 2013, 09:25:02 AM
Ugh, just got all my tax forms. I'm now depressed about all the monies they've already taken out - and if last year is any indication - how much more they will be requiring of me. :weep:
You've always got death to look forward too. :D
:(
Am I right in saying all USAnians have to do their own self-assessment whatever their employment status?* And it's mroe commmon to get a rebate than to have more to pay? Here it's usually only if you're self-employed, and pay as you earn (PAYE) does for the rest of us, with little hope of rebates.
* I learnt this mainly from The Simpsons.
Quote from: Grey Fox on January 25, 2013, 09:33:50 AM
Americans complaining they pay too much taxes. :lol:
You aint paying your fair share!
@Malthus, my house gain 18% year to year. My in laws a staggering 25%.
There ain't no way the house has gained that much. I'm pretty aware of real-estate values in my neighbourhood, and houses that are full renovated and have a two-story addition *may* go for that price. Mine is neither renovated nor has an addition.
Quote from: Brazen on January 25, 2013, 09:50:59 AM
Am I right in saying all USAnians have to do their own self-assessment whatever their employment status?* And it's mroe commmon to get a rebate than to have more to pay? Here it's usually only if you're self-employed, and pay as you earn (PAYE) does for the rest of us, with little hope of rebates.
I learnt this mainly from The Simpsons.
I think so. I'd hate to have to do tax returns :bleeding:
Quote from: Brazen on January 25, 2013, 09:50:59 AM
Am I right in saying all USAnians have to do their own self-assessment whatever their employment status?* And it's mroe commmon to get a rebate than to have more to pay? Here it's usually only if you're self-employed, and pay as you earn (PAYE) does for the rest of us, with little hope of rebates.
I learnt this mainly from The Simpsons.
If you earn a tiny amount of money ($2,000??) you don't have to file a return. Everyone else does.
Rebates are much more common than payments due because of the way withholding is calculated.
Shelf: at the easiest you're entering something like 5 numbers.
Quote from: Brazen on January 25, 2013, 09:50:59 AM
Am I right in saying all USAnians have to do their own self-assessment whatever their employment status?* And it's mroe commmon to get a rebate than to have more to pay? Here it's usually only if you're self-employed, and pay as you earn (PAYE) does for the rest of us, with little hope of rebates.
I learnt this mainly from The Simpsons.
Well, you don't have to file if you don't have any income (or a very, very low earned income; I'm not sure of the exact limits, but it's something like under $10K, and even under that level there are some situations where you still have to file), but otherwise, generally, yeah, everybody has to file an income tax return.
The reason most American get a refund is that how much is withheld from you pay is determined by how many exemptions you tell your employer you'll claim. Most people claim fewer for withholding purposes than they will actually be able to claim, so more is withheld than is really necessary. People do this for 2 main reason: first, to be really sure that enough is withheld (nobody wants to be in the position of actually having to cut a check to the IRS when it's time to file; for a single income household, this isn't really necessary, but for households with more than 1 wage earner, it can be a valid consideration) and second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Quote from: MalthusQuote from: Grey FoxAmericans complaining they pay too much taxes.
You aint paying your fair share!
@Malthus, my house gain 18% year to year. My in laws a staggering 25%.
There ain't no way the house has gained that much. I'm pretty aware of real-estate values in my neighbourhood, and houses that are full renovated and have a two-story addition *may* go for that price. Mine is neither renovated nor has an addition.
I thought that Malthus was Canadian.
Quote from: Sheilbh on January 25, 2013, 09:52:59 AM
I think so. I'd hate to have to do tax returns :bleeding:
Self assessment used to quite literally keep me awake at night for months every year when I was self-employed.
He is.
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Even for people that claim the correct number of exemptions there will usually be a refund. That's because the withholding system calculates the withholding amount using the assumption that the pay you got in that period is 1/26 (or 1/52) the amount you will earn the entire year.
So if you kick out the jams and double your regular paycheck one period with overtime, the amount withheld is how much tax you would have to pay if you doubled your income for the year.
Quote from: Brazen on January 25, 2013, 09:50:59 AM
Am I right in saying all USAnians have to do their own self-assessment whatever their employment status?* And it's mroe commmon to get a rebate than to have more to pay? Here it's usually only if you're self-employed, and pay as you earn (PAYE) does for the rest of us, with little hope of rebates.
* I learnt this mainly from The Simpsons.
Who has to file a tax return? (http://www.efile.com/tax/do-i-need-to-file-a-tax-return/)
It's $9750 for single, childless people.
As for rebates, yeah, most people get one but that's because they have more taxes taken out of their paycheck in a year than they owe in taxes. Usually, that's because of the tax breaks, etc., that is really hard to account for when you fill out the form at the start of the year telling the employer how much to deduct from each paycheck.
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Why? It's a dedicated way to save money. And it's not like putting it in a savings account makes you much. At least this way, you know that you can't touch it until the next year.
We're planning a trip to Europe with the youngest two kids next year. I'm considering changing my exemptions to zero to have them take a good chunk of money out of my account so that when we go, we'll have a nice bit of cash to go with us. It's win-win so far as I can tell.
Quote from: garbon on January 25, 2013, 10:16:17 AM
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
A savings account interest rate is 0.1%. Hardly worth it.
Quote from: merithyn on January 25, 2013, 10:18:12 AM
Quote from: garbon on January 25, 2013, 10:16:17 AM
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
A savings account interest rate is 0.1%. Hardly worth it.
Did you actually read my full post or just the end of it? :hmm:
Quote from: merithyn on January 25, 2013, 10:18:12 AM
Quote from: garbon on January 25, 2013, 10:16:17 AM
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
A savings account interest rate is 0.1%. Hardly worth it.
There are other ways to invest money, you know.
In strictly economic terms, Valmy is right--it's a retarded way to save money. In practical terms, it's the only way a lot of people will save up enough to actually go anywhere on their vacation.
Quote from: garbon on January 25, 2013, 10:18:55 AM
Did you actually read my full post or just the end of it? :hmm:
I read it, but I don't think that it's worth it for the individual. Yes, the government gets that interest rate, which for them is quite a bit. However, for the individual only letting a few thousand ride, it's really not. And again, it guarantees that the money can't be touched for at least a year.
I can hardly remember when savings interest rates were worthwhile, so from my perspective, they're no different than hiding your money under your mattress. So I don't see having them take extra taxes out to get back at the end of the year as a bad thing.
Incidentally Iowa ended the year with a surplus and the governor (God bless his soul) has proposed mailing a refund check to everyone.
Democrats in the legislature of course want to "invest" the money in crucial social spending.
Quote from: dps on January 25, 2013, 10:21:04 AM
There are other ways to invest money, you know.
In strictly economic terms, Valmy is right--it's a retarded way to save money. In practical terms, it's the only way a lot of people will save up enough to actually go anywhere on their vacation.
Sure, but you have to have a set amount to make any of those worthwhile, too. Once you've saved up $1000, buying a CD or some stocks makes sense, but you have to get to that point. For someone like me, that's 20 months worth of saving. Why not have the gov't hold on to the money for the year, and then when you get it back, buy the CD then?
When you have the money to save more than a pittance each paycheck, it doesn't make sense to let the gov't have it. I'm not in that position.
Quote from: Admiral Yi on January 25, 2013, 10:22:46 AM
Incidentally Iowa ended the year with a surplus and the governor (God bless his soul) has proposed mailing a refund check to everyone.
Democrats in the legislature of course want to "invest" the money in crucial social spending.
Like education and infrastructure? Yes, that would be awful.
I'd rather have the check. Daddy wants some more wargames to fondle and put on the shelf.
Quote from: merithyn on January 25, 2013, 10:17:37 AM
Why? It's a dedicated way to save money.
It seems to me like it puts you in peril of having to go into debt because a large chunk of your paycheck is sitting in government coffers. I would rather save money without that kind of risk.
Meri, I agree that the very low current interest rates make it not that profitable to fine tune your withholding. But by the same token most people who are not smoking crack cocaine on a daily basis do manage to put aside money on a regular basis to save up for a big future expenditure.
Quote from: Admiral Yi on January 25, 2013, 10:22:46 AM
Incidentally Iowa ended the year with a surplus and the governor (God bless his soul) has proposed mailing a refund check to everyone.
Democrats in the legislature of course want to "invest" the money in crucial social spending.
Well I guess it depends on what the condition of the state's finances are in. It may make sense to save the money if deficits are common, just to be safe. Or if there are critical infrastructure projects that need funding. Probably neither are the case in Iowa though.
Luckily my state income taxes haven't risen at all.
Quote from: PDH on January 25, 2013, 10:31:55 AM
Luckily my state income taxes haven't risen at all.
Mine have gone up 600% :weep:
I grumbled when I sent in my property taxes.
Quote from: merithyn on January 25, 2013, 10:26:03 AM
Like education and infrastructure? Yes, that would be awful.
I don't think construction companies were among the special interests whose votes they wanted to buy with my tax money.
Quote from: Ed Anger on January 25, 2013, 10:33:43 AM
I grumbled when I sent in my property taxes.
Hate property taxes. They seem ridiculously high here, like my crap little house requires me to shell out hundreds of dollars a month. I might as well be renting the place from the State of Texas.
But they are probably just as bad everywhere.
Quote from: Valmy on January 25, 2013, 10:32:51 AM
Mine have gone up 600% :weep:
Texas now has an income tax?? :o
When did that happen?
Quote from: Admiral Yi on January 25, 2013, 10:36:41 AM
Texas now has an income tax?? :o
When did that happen?
Um no. That was my lame joke.
Quote from: Valmy on January 25, 2013, 10:35:13 AM
Quote from: Ed Anger on January 25, 2013, 10:33:43 AM
I grumbled when I sent in my property taxes.
Hate property taxes. They seem ridiculously high here, like my crap little house requires me to shell out hundreds of dollars a month. I might as well be renting the place from the State of Texas.
But they are probably just as bad everywhere.
I wanted to pay in pennies, but I'd have to use a wheelbarrow.
Quote from: Admiral Yi on January 25, 2013, 10:28:39 AM
Meri, I agree that the very low current interest rates make it not that profitable to fine tune your withholding. But by the same token most people who are not smoking crack cocaine on a daily basis do manage to put aside money on a regular basis to save up for a big future expenditure.
Sure. But tell me the up side to a savings account over a tax return if you want to be certain that you can't/won't pull it out.
Quote from: Valmy on January 25, 2013, 10:27:24 AM
It seems to me like it puts you in peril of having to go into debt because a large chunk of your paycheck is sitting in government coffers. I would rather save money without that kind of risk.
That's kind of the point, though. It's savings that you can't touch. Aren't there CDs and Money Markets that are the same? You have to let them ride a certain amount of time before you can cash them out?
Quote from: Valmy on January 25, 2013, 10:35:13 AM
Quote from: Ed Anger on January 25, 2013, 10:33:43 AM
I grumbled when I sent in my property taxes.
Hate property taxes. They seem ridiculously high here, like my crap little house requires me to shell out hundreds of dollars a month. I might as well be renting the place from the State of Texas.
But they are probably just as bad everywhere.
We're sort of half-assed looking to buy this summer. Looking at property taxes, it's ridiculous at $3500/year for a $130,000 house. And it doesn't seem to matter the price of the house so much as the neighborhood it's in. The closer to the University, the higher the taxes, even if the house is only worth $60k.
Quote from: merithyn on January 25, 2013, 10:41:55 AM
That's kind of the point, though. It's savings that you can't touch. Aren't there CDs and Money Markets that are the same? You have to let them ride a certain amount of time before you can cash them out?
As far as I know both Money Markets and CDs enable you to get your money if you need it.
If you desperately need money because your car broke down or whatever what possible good are savings you cannot touch? Instead you have to take out a high interest loan or use a credit card or something? I can see somebody who is wealthy being able to tolerate savings they cannot touch but that seems like a recipe for disaster for poors like us.
Quote from: merithyn on January 25, 2013, 10:44:17 AM
Looking at property taxes, it's ridiculous at $3500/year for a $130,000 house.
I pay significantly more than that for my $144,000 house. Just outrageous.
I better keep my property tax amount secret. It will make Val mad. :lol:
Quote from: dps on January 25, 2013, 10:06:48 AM
I thought that Malthus was Canadian.
I am. :huh:
Quote from: Valmy on January 25, 2013, 10:46:49 AM
Quote from: merithyn on January 25, 2013, 10:44:17 AM
Looking at property taxes, it's ridiculous at $3500/year for a $130,000 house.
I pay significantly more than that for my $144,000 house. Just outrageous.
Those are indeed very high. I pay around $7000 on a house (incorrectly) valued by the city at $1 million.
Quote from: Ed Anger on January 25, 2013, 10:49:29 AM
I better keep my property tax amount secret. It will make Val mad. :lol:
Texas funds itself via property taxes, it is how we get away with no State income tax. So it would not surprise me if they are significantly lower in states with state income taxes, but I have no numbers to back my suspicion on that up.
NYC has a city income tax and so the property taxes are not wildly unreasonable.
However, the immediate suburbs in Westchester and Nassau (Long Island) have some of the highest property taxes in the country.
Quote from: Valmy on January 25, 2013, 10:46:49 AM
Quote from: merithyn on January 25, 2013, 10:44:17 AM
Looking at property taxes, it's ridiculous at $3500/year for a $130,000 house.
I pay significantly more than that for my $144,000 house. Just outrageous.
Who pockets the money? State or City(county?)
Yeah, in Ontario there is a wonking big sales tax (the HST) as well as property tax.
Quote from: Grey Fox on January 25, 2013, 11:04:31 AM
Who pockets the money? State or City(county?)
All the above (well...maybe not the city I will have to check) but the real blood sucker is the school district.
Quote from: Valmy on January 25, 2013, 10:46:49 AM
Quote from: merithyn on January 25, 2013, 10:44:17 AM
Looking at property taxes, it's ridiculous at $3500/year for a $130,000 house.
I pay significantly more than that for my $144,000 house. Just outrageous.
Yes, but I pay state income taxes, too. :contract:
Quote from: Valmy on January 25, 2013, 11:08:19 AM
Quote from: Grey Fox on January 25, 2013, 11:04:31 AM
Who pockets the money? State or City(county?)
All the above (well...maybe not the city I will have to check) but the real blood sucker is the school district.
Atleast you get no income taxes. My city property tax rate is 85¢ by 100$ of evaluation. I pay ungodly amount of other taxes, of course.
5% of Federal Tax
9.975% of Provincial Tax
Whatever my income tax rates are (2 of them)
And the payroll taxes (one of them grew by 4% for 2013!)
Other Canadians, Quebec has stop taxing the tax!
Quote from: Grey Fox on January 25, 2013, 11:14:52 AM
Quote from: Valmy on January 25, 2013, 11:08:19 AM
Quote from: Grey Fox on January 25, 2013, 11:04:31 AM
Who pockets the money? State or City(county?)
All the above (well...maybe not the city I will have to check) but the real blood sucker is the school district.
Atleast you get no income taxes. My city property tax rate is 85¢ by 100$ of evaluation. I pay ungodly amount of other taxes, of course.
Well, you live in Quebec. Paying people to measure the font size on English signs doesn't come free you know. :P
Quote from: Admiral Yi on January 25, 2013, 11:28:18 AM
Quote from: Grey Fox on January 25, 2013, 11:14:52 AM
Other Canadians, Quebec has stop taxing the tax!
Que?
Before it went like this.
Stuff 6$
Federal tax 5% = .3 + 6 = 6.3
Provincial tax 9,45% of 6.30 .60
Final Price : 6.90$
Now :
Stuff 6$
Federal tax 5% =.3
Provincial tax 9.975% of 6 = .60
Final Price : 6,90$
Clearer?
Quote from: Grey Fox on January 25, 2013, 11:43:31 AM
Quote from: Admiral Yi on January 25, 2013, 11:28:18 AM
Quote from: Grey Fox on January 25, 2013, 11:14:52 AM
Other Canadians, Quebec has stop taxing the tax!
Que?
Before it went like this.
Stuff 6$
Federal tax 5% = .3 + 6 = 6.3
Provincial tax 9,45% of 6.30 .60
Final Price : 6.90$
Now :
Stuff 6$
Federal tax 5% =.3
Provincial tax 9.975% of 6 = .60
Final Price : 6,90$
Clearer?
Is there a situation in which doing it one way or the other makes a difference?
On an item where there is no GST but TVQ is still applicable is a possible scenario but I am aware of no such product. So no, not real difference. Except for the federal government who kept insisting that they stop.
I know of items exempt of TVQ but still subject to the GST.
Quote from: merithyn on January 25, 2013, 10:21:52 AM
Quote from: garbon on January 25, 2013, 10:18:55 AM
Did you actually read my full post or just the end of it? :hmm:
I read it, but I don't think that it's worth it for the individual. Yes, the government gets that interest rate, which for them is quite a bit. However, for the individual only letting a few thousand ride, it's really not. And again, it guarantees that the money can't be touched for at least a year.
I can hardly remember when savings interest rates were worthwhile, so from my perspective, they're no different than hiding your money under your mattress. So I don't see having them take extra taxes out to get back at the end of the year as a bad thing.
Hey I just looked at some interest I got last year on an equivalent amount to extra taxes I paid for 2011. $13. Not anything to sneeze at but not sure why I'd happily give that away.
As I think Yi later mentioned - rather odd way to make sure that one saves money given that it isn't that hard to stash cash in a savings account that you don't touch.
Quote from: merithyn on January 25, 2013, 10:41:55 AM
That's kind of the point, though. It's savings that you can't touch. Aren't there CDs and Money Markets that are the same? You have to let them ride a certain amount of time before you can cash them out?
I'd just put it in a savings account that is harder to reach. Takes several days if I ever want to pull money from my ING Direct account which serves as a good barrier.
Quote from: garbon on January 25, 2013, 12:14:30 PM
Quote from: merithyn on January 25, 2013, 10:41:55 AM
That's kind of the point, though. It's savings that you can't touch. Aren't there CDs and Money Markets that are the same? You have to let them ride a certain amount of time before you can cash them out?
I'd just put it in a savings account that is harder to reach. Takes several days if I ever want to pull money from my ING Direct account which serves as a good barrier.
Okay. Others choose to use their taxes. :)
Sure, I think that's okay as a temporary thing to actually do but I'm not sure I'd go advocating such a backwards approach to savings.
Also I always thought the point of making a CD was for the better interest rate, not because you were trying to prevent yourself from accessing money. That was the downside of having a CD.
Quote from: merithyn on January 25, 2013, 12:16:05 PM
Okay. Others choose to use their taxes. :)
Yeah ok. If garbon suddenly needs cash because life throws him a curve he just has to wait a few days. The others have to possibly wait months while they are accumulating interest on a loan they had to take out.
I dont mind paying income taxes - they are based on an objective value - my income.
Like Malthus my blood boils at my property taxes which are based on some flight of fancy of what a willing buy might pay for my place. Like Malthus I would be quite happy selling it for that amount although I highly doubt any buyer would pay it.
Only three pieces of money-management advice I've ever consistently followed:
(1) however you can, accumulate a surplus and hold it in a reasonably liquid form, aside from your other savings. This is to cover any emergency that (will) come up.
(2) set up some sort of system to automatically deduct money from what you earn for savings every month, and live as if the remainder was your actual income.
(3) attempt to anticipate future major expenses (new car, vacation) and set up from your savings specific funds for those future expenses.
Seems moronically simple in theory, but hard to do in practice.
Quote from: Malthus on January 25, 2013, 12:34:52 PM
Only three pieces of money-management advice I've ever consistently followed:
(1) however you can, accumulate a surplus and hold it in a reasonably liquid form, aside from your other savings. This is to cover any emergency that (will) come up.
(2) set up some sort of system to automatically deduct money from what you earn for savings every month, and live as if the remainder was your actual income.
(3) attempt to anticipate future major expenses (new car, vacation) and set up from your savings specific funds for those future expenses.
Seems moronically simple in theory, but hard to do in practice.
Hey, we got the same advice. We have been fortunate enough to follow these rules from the time we got married - even when the amount we were able to set aside each month was only 50 bucks in the early lean years.
Quote from: crazy canuck on January 25, 2013, 12:38:56 PM
Hey, we got the same advice. We have been fortunate enough to follow these rules from the time we got married - even when the amount we were able to set aside each month was only 50 bucks in the early lean years.
Heh me too. They have served me reasonably well.
Quote from: garbon on January 25, 2013, 10:16:17 AM
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
When I'm employed, I usually put the refund or most of it towards the principal on my mortgage, knocking it down.
When I'm not employed, I use it for food.
Quote from: CountDeMoney on January 25, 2013, 12:57:56 PM
Quote from: garbon on January 25, 2013, 10:16:17 AM
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
When I'm employed, I usually put the refund or most of it towards the principal on my mortgage, knocking it down.
When I'm not employed, I use it for food.
I'm not sure I understand how that is here nor there on whether to increase one's withholding.
This year my tax return will be use to pay my dad taxes. (that he incurred because of me)
Quote from: garbon on January 25, 2013, 01:07:25 PM
Quote from: CountDeMoney on January 25, 2013, 12:57:56 PM
Quote from: garbon on January 25, 2013, 10:16:17 AM
Quote from: Valmy on January 25, 2013, 10:11:04 AM
Quote from: dps on January 25, 2013, 10:06:48 AM
second, people tend to use their refund check to pay for their vacation or otherwise treat themselves in some way--it's kind of looked at as a form of found money.
Which is retarded.
Back when interests rates were better, it was doubly so, as you'd basically be letting the government earn the interest on the money you overpaid.
When I'm employed, I usually put the refund or most of it towards the principal on my mortgage, knocking it down.
When I'm not employed, I use it for food.
I'm not sure I understand how that is here nor there on whether to increase one's withholding.
It's not. I just felt like fucking posting it there. IS THAT OK WIFF YOU
Sure but why did you quote me? :unsure:
Quote from: garbon on January 25, 2013, 01:16:26 PM
Sure but why did you quote me? :unsure:
Because it was there.
I usually get money back from the Feds, and have to pay the state. Last year I didn't owe the state, got a little back. I should be getting back a couple thousand from the Feds, mortgage interest, property taxes and medical costs will help there.