I like getting a tax refund as much as the next guy but...

[Suleiman Bey]

I know you guys love to sounds "woke" but I prefer my 3 racks in a lump sum.

 

[mannyrs13]

I love Coli accountants.

How you getting 2.2 on the full amount, when you won’t have the full amount in the account until the final paycheck?

But let’s say you did. The interest on 5500 dollars is a whopping 121 dollars a year. And I highly doubt 10% of the people you know, is getting that much back.

nikkas acting like banking gurus over 121 dollars. Some people would PAY 121 dollars to be able to save 5500 over 12 months

The interest compounds daily on there. Besides I'd rather have an extra 121 dollars a year for doing nothing than having the government hold my money and give me nothing more. Basically what I'm trying to say is that people would be smarter to get that money thru out the year and save it or even do something smart like putting it towards their mortgage and lowering their amortization rate depending on how much they would get each month, but that's a discussion for another thread. You know how to manage your money better than the government does, just gotta be smart enough to know what to do with it. And unfortunately some people aren't.

Ally 2.2% ???

You suppose to make that 5200 BUBBLE.

the people gotta get their money back at the end of the year. I can't hit the casino every week and gamble their money now.

 

[Originalman]

Depends OP. It you have side businesses and investments you will have to itemize your taxes.

Due to how businesses and investments work you can't really adjust what is taken out if you get a paycheck from say your main job.

For myself I work but have multiple properties and am an investment partner in a car dealership. So one year I can make a nice profit from my busineses but then another year I could make less due to property repairs or due to not selling as many cars as the year before.

So for something like this me adjusting how much is taken out of taxes for my main job may actually hurt me. So I leave my claims alone then at the end of the year itemize everything from my side businesses.

 

[kdub83]

I really didn't even understand what those exemptions mean until last year. I made an adjustment last year after i seen how big a refund I got. I did an estimate of my taxes this year, and it is still a pretty big refund so I'm adding one additional exemption. I'll probably leave it at 2 and just take the rest as a refund.

 

[ScoopNScore]

Most idiots think it's "free money"

But hey most of them can't save a nickel so "overpaying" the government and getting it back later is basically their savings account.

Forced savings.

Word, like throwing down in a Susu, thinking you Warren Buffett all of a sudden cuz it's your turn to get the bandz

 

[MF budz]

6500 back. car paid off and then a month or two rent

 

[KING WILL]

I really hate how excited my people get when tax time rolls around.

Only to not do anything productive with it.

1 thing I can say about my childs mother, she pays off some bills for 3-6 months.

This year, I convinced her to invest some of it.

I used to get a lil excited over my escrow check, now im not damn, you mfers charging me $80-$100 more per month on my mortgage.

like a lot of yall saying, "Its not free money!"

 

[NinoBrown]

if youre single with no kids, go to HR and change your withholding from 0 to 1. bigger checks and your refund will be about 500 bucks (or whatever the fukk), but thats definitely the way to go

Or change it to more....add some business expenses....boom...big boy check..

 

[mannyrs13]

6500 back. car paid off and then a month or two rent

And how much interest were you paying on that car every month?

 

[MF budz]

And how much interest were you paying on that car every month?

My interest rate wasn't bad and I've only had the car since july/August. They tried to give me some long loan not knowing I would have that shyt paid off in 8 months