Sunday, February 27, 2011

Saturday Six – Episode 359

Patrick’s Place Saturday Six – Episode 359

1. Have you filed your state and federal taxes yet?
Nope, I haven’t even gotten all my 1099s yet

2. When do you traditionally file?
April 15th. The longer I keep my money, the more interest I make.

3. Are you expecting a refund or a balance due this year?
I owe, I owe, It’s off to jail I go.

4. Do you file them yourself manually, with help from software, or do you take it to a tax professional?
A professional.

5. If you are expecting a refund, what would you be most likely to buy with that money?
Refund? What is that?

6. What’s the biggest thing you’ve ever purchased with a tax refund?
Why get a refund? If you are getting a refund you should decrease your withholdings, why give the government an interest free loan. You should adjust your withholdings so you just break even or pay a little at the end of the year.

1 comment:

  1. I intentionally have my employer take a little more than they need to specifically so I'll get a refund. You're right that I'm giving the government an "interest-free loan," but at the same time, I'm providing myself with a guaranteed refund of some kind and I have a strict rule that the money can only go to pay off a debt.

    I'm hoping that eventually, there'll be no debt left to pay, and then I'll adjust as necessary.

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