Quote:
Originally posted by Nathans_Dad
You got it. That is why you should adjust your withholding to make sure you get zero refund each year or owe a little. Everyone gets excited about a tax refund when in reality all you have done is give the government an interest free loan for a year...
This year I am getting $7k back but that is because my wife quit working 4 months into the year so we lost a big chunk of income.
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That's what I do (not completely zero though, I like to get a little back, it's a psychological thing I guess). I would rather earn interest than the government.
Some people like the windfall though. Maybe they struggle to save so this is a way for them.....