Thread: What Are you doing with Tax Returns?

As I said in the other thread, I pay my taxes and nothing more.. Therefore no return for me. Why overpay and give the government an interest free loan?
If I want to save money I'll save money not overpay my taxes because I don't have the will to save on my own.

Originally Posted by codyAK

As I said in the other thread, I pay my taxes and nothing more.. Therefore no return for me. Why overpay and give the government an interest free loan?
If I want to save money I'll save money not overpay my taxes because I don't have the will to save on my own.

so by your thought process your doing it wrong. you should pay more, therefore saving more inadvertantly because youre giving more to the government and getting it back in one chunk early the next year. hm..

Originally Posted by Bio248

so by your thought process your doing it wrong. you should pay more, therefore saving more inadvertantly because youre giving more to the government and getting it back in one chunk early the next year. hm..

I have no need to inadvertently save money.
Your aim should be to owe nothing, but also to receive nothing back. If you are getting money back it means you payed too much in the first place.
No matter what you use your refund on, you would be better off not overpaying and instead having the money in each paycheck. If you put your refund into savings, you would be better off putting the extra money into an interest earning account each month. If you use it to pay off debt, you could have used the money to not accrue the debt(and pay ridiculous interest charges) in the first place. If it's used to pay outstanding debt you could have been paying it each month. If you put it towards a big purchase, you could have put the money into savings each month and earned interest on it instead.


I see no advantage to overpaying your taxes.

damn you guys i got all excited thinking what i was going to blow it on.. pregens, springs, and brakes??... spoiler, tints, drop??.. headers, filter, pulley,tune??.... no it going towards a $1500 bill that popped up from school. i hate you

Scott...I still have a spare Gen V on the shelf.

Originally Posted by BillBoost37

Scott...I still have a spare Gen V on the shelf.

oh no dont tempt me lol

umm ill be there in 2 hours or so ok lol

Originally Posted by silvaman61

Oh no dont tempt me lol

umm ill be there in 2 hours or so ok lol

doooo itttt!!!!

Originally Posted by SilvaMan61

damn you guys i got all excited thinking what i was going to blow it on.. pregens, springs, and brakes??... spoiler, tints, drop??.. headers, filter, pulley,tune??.... no it going towards a $1500 bill that popped up from school. i hate you

Ugh dont we all have these!! However, thats what good student loans are for (and no dropping the $300 i get from tax returns would not touch the 20K i owe for my school. Oh the troubles of going to a good school)