What do you plan on doing with your income tax!
#21
01-20-2010, 07:28 PM
All the money you make in your life is going to back to the government in some way.There is a tax for everything.You get taxed for dying.Besides,if youre bad with money you can wait to file until mid november and then you have christmas gift money.
By the way,I just got my tax checks back from last year.I procrastinate!!!!!!
By the way,I just got my tax checks back from last year.I procrastinate!!!!!!
Last edited by mr freeze; 01-20-2010 at 07:30 PM. Reason: felt like it...
#23
01-20-2010, 07:32 PM
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You guys do realize that by not claiming the proper deductions each month, you are letting the government use your money with zero interest for a year!
It is better to max out your legal deductions and place it in a interest bearing account and bank the interest money yourself. I have a 3.75% checking account...what do you figure I would make a year on that same $4,300...compounded? Even if you didn't want to save it, at least you would see it each month in your paycheck and could buy the parts you need, when you needed them, versus having to wait till the end of the year.
It takes some financial discipline but I refuse to let the government have a dime of my money if I can help it....especially with the current administration....but that's a whole different matter for a different forum. Just a thought.
It is better to max out your legal deductions and place it in a interest bearing account and bank the interest money yourself. I have a 3.75% checking account...what do you figure I would make a year on that same $4,300...compounded? Even if you didn't want to save it, at least you would see it each month in your paycheck and could buy the parts you need, when you needed them, versus having to wait till the end of the year.
It takes some financial discipline but I refuse to let the government have a dime of my money if I can help it....especially with the current administration....but that's a whole different matter for a different forum. Just a thought.
#24
01-20-2010, 08:15 PM
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Yes...then you use the interest you made to pay them with. As I previously posted, you take the amount of legal dependents that you'd normally take at the end of the year anyways. You will also have to figure in major deductions as well to see if additional dependents are warranted.
It's not just me saying these things, any financial consultant worth their salt will tell you the same thing. See link:
http://shine.yahoo.com/channel/life/...ht-now-562577/
The majority of people who choose to let Uncle Sam save their money for them...with zero interest...don't have the discipline to do it on their own. Not an insult, just a fact.
#26
01-20-2010, 09:06 PM
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#27
01-20-2010, 09:18 PM
#28
01-20-2010, 09:23 PM
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#29
01-20-2010, 09:37 PM
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#30
01-20-2010, 10:09 PM
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