peachwein
Well-Known Member
Any other procrastinators who still haven't gotten their tax refund planning on upgrading their setup? I'm thinking of possibly upgrading to AG.
Amen!!Refunds suck. They just mean the government held your money all year.
Amen!!
Some people are always "proud" that they are getting a refund and don't realize that they've overpaid their taxes all year long...they could have placed that $$$ in the bank and gotten interest.
I make sure I always pay...
Airborneguy...do you realize how much interest you could have earned on that 20K if you hadn't handed it over to the Gov't?
You should learn to keep your money and make it work for you. :rockin:
Amen!!
Some people are always "proud" that they are getting a refund and don't realize that they've overpaid their taxes all year long...they could have placed that $$$ in the bank and gotten interest.
I make sure I always pay...
Airborneguy...do you realize how much interest you could have earned on that 20K if you hadn't handed it over to the Gov't?
You should learn to keep your money and make it work for you. :rockin:
I have been thinking more and more about this, But how much are they really making off a couple hundred dollars? I made a promise to myself to get smarter about it in the future as soon as I find stable employment though.
The whole time value of money thing is interesting, but what if they owed you a refund but didn't give it to you? California did that last year.
The ultimate goal is to get as close to ZERO as possible...haha... well, my refund isn't huge. But it can certainly help with upgrading my equipment. I did a lot better this year making sure i wasn't over paying that much.
That situation makes it understandable, but still the goal is to try to zero it out and keep more of what's yours.It would have been impossible for me to get it to zero. $8000 of that amount was the homebuyer credit. Most of the rest came from mortgage interest credit which I've never claimed before. My usual return is around $3000. All told, I'd rather keep my deductions the same to make sure I don't owe at the end of the year. The interest I would gain by playing around with my deductions would be nominal, and I already put extra money into my pension fund (7%) and 10% into my 457. So even if it did come out to be $100 or so in interest, I'd rather not risk owing at the end of the year. Trust me, I understand how taxes and income work. I wish I didn't, life would be much more bearable.
Something like 50% dont pay taxes, a percentage of them GET money that they never paid in.
Something like 50% dont pay taxes, a percentage of them GET money that they never paid in.
Multiply your refund by about 8% and that is what you lost by getting a tax refund.
Got a small refund, went to the investment account, no plans to upgrade or actually brew anytime soon.
Saw a poll the other day that 47% or something like that of respondents feel the amount of tax they pay is "about right."
Turns out something like 45% of people will pay no tax this year...funny how that works!
Where are you getting 8%? Investment grade corporate bonds are maybe paying 3-4% if you don't mind the duration risk.
Average DJIA return. My portfolio is up about 80% from January 2009... 2009 was a great time to buy. DJIA from 6000 to over 11000 points?!
Do you realize that our gov't owes roughly 10 trillion dollars, and thats not interest free? Letting the gov't keep your money interest free for a couple months may, in the long run, actually save money, because you're paying it one way or the other.Amen!!
Some people are always "proud" that they are getting a refund and don't realize that they've overpaid their taxes all year long...they could have placed that $$$ in the bank and gotten interest.
I make sure I always pay...
Airborneguy...do you realize how much interest you could have earned on that 20K if you hadn't handed it over to the Gov't?
Any other procrastinators who still haven't gotten their tax refund planning on upgrading their setup? I'm thinking of possibly upgrading to AG.
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