Tax Refund/What's going in your wallet?

[JennB]

So why would you want to get such a large refund? I have never understood. Why wouldn't you want that money on your paycheck all through the year? Why not get it and put it into a savings account and earn a nice bit of interest instead of letting the government hold onto it for free? I'm not being mean or anything, just asking an honest question. It's up to everyone what they do with their own money but I think a lot of people don't quite get how the tax system works and think they HAVE to have a certain amount taken out of their paychecks and then they HAVE to wait until the end of the year to get it back. If that's what you like to do then fine, but it has never made much sense to me personally.

I pay a TON of tax and I do an estimate at the beginning of each year so I can get my withholdings almost dead on and get the largest paycheck possible. I want my money, I don't want the government holding onto any more of it than they have to. I get punished enough for working my ass off and not having kids or many other deductions, I'll be damned if I let them hold onto thousands more of my dollars. But that's just me, I'm an accountant and I want full control of my money at all times.

[quickdodge®]

Why wouldn't you want that money on your paycheck all through the year?

I already do that. I have my dependents maxed out on my W2. I get as much back on my weekly check as I can. And I still get a decent return each year. I'm completely satisfied with my set up right now. Later, QD.

[cactusEG]

turbotax ftmfw!!!!

Aint that the troof brotha ! ! ! I'll be only putting my self as a dependent...

[hondalover00]

h&r sucks ass! My homeboy from work got me back 7600 and i dont even have any dependents and i only worked at my job for 7 months. I got back more then my girls dad with one dependent, mom and her bro and his wife with two dependents and they all went through h&r.

oops this is -sdoublec- didnt know i was on my supervisors name

[JennB]

h&r sucks ass! My homeboy from work got me back 7600 and i dont even have any dependents and i only worked at my job for 7 months. I got back more then my girls dad with one dependent, mom and her bro and his wife with two dependents and they all went through h&r.

Once again, you cannot compare your refund to someone else's, it's completely pointless. Someone can get back $20 and pay less than you overall and someone can get back $5,000 a pay ten times what you pay overall.

If you overpaid by $7,600, you really need to adjust your W-4.

[drpepper14]

I'm getting back such a large return because I qualified for the first time home buyers credit, got married last year, and had to travel for 2 of my jobs on a regular basis...

Otherwise, I want my money in my high interest savings account and in my IRA instead of sitting in uncle sam's pocket all year.

[JennB]

Oh, sweet. That first time homebuyers credit is an awesome program. Good for you.

[redrumracer]

woohoo im getting an awesome 270 buck
only made 3k last year.

[§treet_§peed]

im getting almost 1600 bucks back. that'll go in my savings til i get my new car in april. i would of got back well over 4k if i would of claimed my friends daughter. No i wouldn't of been lying since i do help pay her bills, by them food, medicine, etc. but she was afraid of getting in trouble even tho she has every receipt on everything i paid for.