tax season vent

Meganequine · January 2013

Okay, so maybe I should have saved this for FFFC- but I always forget them by then.

I hate, hate HATE when people complain about not getting a tax refund. New flash- you don't want a tax refund. A tax refund means you overpaid your taxes, gave the government an interest free loan and are just now getting your money back. Ideally you want to get nothing and owe nothing.

This stems from my friend's fb post (whose always posting annoing political bull) about how he's bummed to only be getting $2,000 back.

ashlin242000 · January 2013

I would love to complain about not getting a big refund. I am just praying I don't end up owing, breaking even would be just fine by me.

MrMrsandBaby · January 2013

So I totally get the "interest free loan" thing but in my head it is logical to want a refund. I would rather get a few hundred or more! dollars in April than get an extra 20 in each paycheck. I would barely notice the extra in my check but I can use the refund for a big purchase/payment/savings.

Maybe if I were more disciplined it would be different. But I'm not!

shortsweet&sassy · January 2013

ashlin242000:
I would love to complain about not getting a big refund. I am just praying I don't end up owing, breaking even would be just fine by me.

this! We changed our deductions after having baby girl so I'm hoping we don't owe and just break even as well. We followed the guidelines when changing the deductions so hopefully if we do owe it will be minimal.

Meganequine · January 2013

I guess I should add, I would much rather get money than end up owing. I would not be bothered by people complaining that they owe.

jmccall79 · January 2013

I agree with not loaning the government your money, interest free. However, being single, with no dependents, I couldn't ever get it to work out right to where I didn't owe. So, I'll take a refund over owing them money. Now having Ian, I am getting a nice refund this year. I may go in and change my deductions for this year and see what happens.

Shawnee11507 · January 2013

MrMrsandBaby:
So I totally get the "interest free loan" thing but in my head it is logical to want a refund. I would rather get a few hundred or more! dollars in April than get an extra 20 in each paycheck. I would barely notice the extra in my check but I can use the refund for a big purchase/payment/savings. Maybe if I were more disciplined it would be different. But I'm not!

Same here. I would likely spend the extra $20/check or whatnot, but this way I at least can make a couple bigger purchases or put it in savings- and I would never want to owe if I could help it.

Lena122 · January 2013

I'd rather get a refund than owe. I've never broken even, it's always been one or the other.

MrMrsandBaby · January 2013

I also fully believe the way taxes are withheld is broken. When DH and I were married with 0 children, we did the calculation on the W4 form to figure out how much to withhold and both of us came up with Married and 1 exemption. So he did that and I did Married with 0 exemptions...we ended up paying over $2,000 that year. So because of that, now we both do Single and 0 just to make sure that never happens again.

If it was easier to predict what our taxes were going to be, I would totally set it up for us to break even.

ssimon621 · January 2013

Yeah, I never can figure out how to not owe. DH and I both claim zero, I claim married and he does single and DH has a set dollar amount to come out as extra and we still had to pay over the last few years. Now that we have DD and just bought a home we hope to at least break even or get a couple dollars back. But I rather over estimate a little and leave our deductions the same and get something back instead of having to pay.

I won't complain about how little it is as long as I don't have to pay. If I were getting $2,000 back I would be doing a happy dance and putting the money in savings.

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