Quote:
Originally Posted by Ch2tf
 x1 million
Single, out of school full time, no kids, no property definitely does suck though. Most of the people I know rake in the $$$ in refunds, but not I.
While I do get a refund, it is usually under $400 in total (federal and state). It's depressing |
Quote:
Originally Posted by BluPhire
Depends on your mentality.
A lot of people have the mentality that a refund is pretty much giving the government an interest free loan.
I say if you are an employee this is true.
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What BluPhire said. Your goal should be to break even or to owe the government. Otherwise, you gave the government an interest free loan. I know people who use their refund to pay off the credit card they've used all year. Well guess what? If they changed their deductions to break even, they wouldn't have needed to use that credit card and wouldn't have paid interest on that credit card! Major win.
For that reason, I follow the worksheet on the back of the W-4 to a T and I break even or get a very small refund. In the meantime, I have my cash to spend.