Do income tax returns = more ESEE knives?

MSgt said:
We always owe Sam at tax time, we set our withholdings that way. I do not want the govt to be setting on/receiving interest on my monies. Ever note that Sam does not pay you interest on your funds -it holds; BUT if you owe March 15th and cannot pay right away you owe them interest! [one way street and that's why I'd rather owe a few hundred than get even one cent back.]
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Your are 100% right on your thinking, I plan on doing the same next year, hell I could use that extra money all year long instead of floating a loan to the govt.
 
Not to turn this into a tax advice thread, but I actually do my taxes in early Nov, or mock taxes and see where I stand. As long as you bring home the same amount each check, you can do the numbers exactly using a calculator on irs.gov. If I'm close to having what I need in for the year, which I usually am, I shut it down for the year and give myself a nice raise. That's the law, as long as you believe you are paid in enough to meet your tax obligation, you can contact your HR dept and tell them to change your withholding to 15 and pay no more federal taxes for the rest of the year. I've done this for the past couple of years now as sort of a holiday time pay boost. I know I'm just playing games with my own money, but I still like the way it works out....
 
MSgt said:
We always owe Sam at tax time, we set our withholdings that way. I do not want the govt to be setting on/receiving interest on my monies. Ever note that Sam does not pay you interest on your funds -it holds; BUT if you owe March 15th and cannot pay right away you owe them interest! [one way street and that's why I'd rather owe a few hundred than get even one cent back.]
Click to expand...

I set it up the same way. I would rather have the money then let the government borrow it for free.
 
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