Taxes are to high!
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@JaredBusch said:
@travisdh1 said:
@Dashrender said:
@JaredBusch said:
My tax rate (counting healthcare) is something like 35% when I looked at my last paystub for 2015. Refund this will be about $3k because I forgot to change the amounts last fall like I generally do once I have paid in enough to cover my taxes.
That's weird - why would you pay in early? In fact, why not do the opposite, short them as much as possible, bank the cash and send them a check?
It's the world's worst savings plan! I've known people who used taxes like a savings account before, not such a great way to go about things. Personally I've got it to the point where it's as close to zero at tax time as possible (normally $40 or so either way.)
Because I forgot to adjust my W4 amounts last year. I normally do that about September once I have a solid grip on my expected tax for the year. I have long aimed for a ~$100 owe/refund amount.
If it wasn't for possible penalties, I'd pay zero all year and just write a check every year on April 15, get the interest myself.
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@Dashrender When I was self-employed that is what I did... the penalty for not filing my quarterly's was small enough I felt is wasn't worth my time dealing with.
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@Dashrender said:
@JaredBusch said:
@travisdh1 said:
@Dashrender said:
@JaredBusch said:
My tax rate (counting healthcare) is something like 35% when I looked at my last paystub for 2015. Refund this will be about $3k because I forgot to change the amounts last fall like I generally do once I have paid in enough to cover my taxes.
That's weird - why would you pay in early? In fact, why not do the opposite, short them as much as possible, bank the cash and send them a check?
It's the world's worst savings plan! I've known people who used taxes like a savings account before, not such a great way to go about things. Personally I've got it to the point where it's as close to zero at tax time as possible (normally $40 or so either way.)
Because I forgot to adjust my W4 amounts last year. I normally do that about September once I have a solid grip on my expected tax for the year. I have long aimed for a ~$100 owe/refund amount.
If it wasn't for possible penalties, I'd pay zero all year and just write a check every year on April 15, get the interest myself.
Since April 15 is my birthday, feel free to write me a check too.
