Quote:
Originally posted by preciousjeni
I've never gotten a tax refund. It's not necessarily a good thing to get one because it means that the government stole too much money from you and they're *kindly* giving some back.
The major issue is that you missed out on potential capital that you could have put toward investments. It's better to owe money at the end of the year because at least you held onto it for a longer amount of time!
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And some of us just had a LOT of deductions meaning we get a refund! When you had student loan interest, charitable contributions, Lifetime Learning Credits, Homestead Credit, etc THAT is what gives a refund. If you don't have enough to itemize deductions, yes you should look into having less taxes taken from your paycheck. If you itemize and make rather low income, you ARE going to get a refund (when you make over $18,000 and your taxable income is around $4500, not much you can do about 'the government stealing your money' because they are giving you back EVERYTHING you put in! You also have to remember there is not much you can do when you can only claim 1 deduction on your W-4 - you can't take it to 2 if you are single which would mean fewer taxes taken out.)
Sarah
ETA: Some of us STILL do pretax investments so we ARE lowering the amount that is sent to the Government.