Tax refunds are for fools...

Yes its that time of year when the TVs are full of people promising you big refunds and mates bragging about their $2500 checks and how they are going to live the American dream by spending the refund on something they don't need. When I tell them that I owe $100 and I'm happy about it they seem very shocked.

So let me put it this way for you....

If you are the sort of person who would like a check for $2400 next April just send me a check for $200 every month. Then next April I will give you a check for $2400.

Yes people a refund is nothing but an interest free loan you gave the government. In a perfect world I would pay no tax all year and save what I owe. But Uncle Sam doesn't let you do that. If you owe them too much they add in fines which is a bit hypocritical since they don't pay any interest but they charge it!

So unless you had some big life changes which means your w-4 wasn't correct, then you should fix your with-holdings to put the money back in your pocket.

Remember its YOUR MONEY!!!

Published 19 February 2008 10:08 PM by zman
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