[QUOTE="shaggygrosser"]A large tax return means you're not managing your money correctly. Why should the government hold your money through the year when you could invest your money and grow it instead?
But I digress. I'll use whatever I get from the refund and put it towards my credit cards. And since my credit cards typically pay for my gaming habit through the year, it works out.
phybaoptikz
not really. each state is different. you dont know how to manage your money, a large tax return means this guy files zero on his taxes so they take more tax out of his checks when he gets paid, instead of less. you do realize that if he were to have them take less money out throughout the year, he could easily owe the IRS when its tax time. i have them take as much as possible. as far as you saying he can't manage his money correctly, did you say you had credit cards with an "S", so that is plural. if you knew how to manage your money, you wouldn't have multiple credit cards. managing money means spending what you make, not spending more than you make. if you can't afford it now and can't pay it off at the end of the month, you dont need a credit card. i use my credit card like a debit card, but i pay my card off every month, might as well use the credit card and get points towards rewards that my debit card doesn't offer.WOW. you should never let the IRS hold your money for a year. You're better off, calcualting how much they would take if you claimed "0" and then dumping it in the bank each paycheck. Then come tax time, if you owe anything, you have it in an account and you keep the intrest.
If you get a huge return, without any dependants or deductions, chances are, you should have took more time with your tax form at the beginning of the year.
Personally, I travel alot, so I'm getting my city wage taxes back, which was alot. But usually my return is in the 500 to 800 dollar range and I made something like 4 times as much the last 2 years than I did the 2 previous. (I graduated college 2 years ago and got a real job)
I do agree with the credit card statement. There's only a few small things you should borrow money for, like a House, Car, Education, Business. Things like games and TVs should only be purchased with money you have and credit cards if used, need to be paid off regularly.
Log in to comment