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Author Topic: Tax Refund(s) Yes/No"  (Read 153 times)

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HawgWild

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Tax Refund(s) Yes/No"
« on: February 05, 2018, 10:37:03 am »

Filed my taxes last Friday. Owed money to the Feds as I have every year since the 1980s. Got to thinking, a lot of people look forward to getting a refund. I'm more of the camp that wants to avoid giving Uncle Same an interest free loan. In fact, I try to owe right up to the line before a penalty kicks in. (I've had to pay a penalty twice over the years and that's no fun at all.)

Do you try to manage your withholding to get a good amount back? Pay in or little id any? Never really mattered? Your finances are too complext to do this?

Just curious.

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woodrow hog call

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Re: Tax Refund(s) Yes/No"
« Reply #1 on: February 05, 2018, 12:47:54 pm »

We most always have to pay in more, I guess I should look at it as getting to use Uncle Sam's money for most of the year before I have to pay him back, but I have a hard time doing that. I guess it's all about perspective, maybe I need to change mine.
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widespreadsooie

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Re: Tax Refund(s) Yes/No"
« Reply #2 on: February 05, 2018, 12:51:53 pm »

I try to true up taxes mid year in order to break around even.
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CSCSW

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Re: Tax Refund(s) Yes/No"
« Reply #3 on: February 05, 2018, 04:35:48 pm »

Im just getting into investing and know very little. Why is it that we Im guessing the we meant as fellow investors are having to pay on?
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widespreadsooie

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Re: Tax Refund(s) Yes/No"
« Reply #4 on: February 05, 2018, 04:57:24 pm »

Im just getting into investing and know very little. Why is it that we Im guessing the we meant as fellow investors are having to pay on?

Interest, dividends, capital gains derived from stock, other capital gains, business investments, real estate investments. Basically anything that makes a dollar that doesn't derive from your job.
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zane

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Re: Tax Refund(s) Yes/No"
« Reply #5 on: February 06, 2018, 08:08:58 am »

I try to break about even.

This year will be interesting though. Next year even more..
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