Quote:
Originally Posted by backtaxpro
Agreed many people give the IRS an interest free loan. It is usually in your best interests to have your taxes withheld today:
1) Many people will spend the money leaving them with unpaid taxes later
2) Saving Rates or CDs are at lows
3) You are required to make estimated payments during the year. The IRS by the end of the year should have 75% usually of your total taxes.
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Nobody here is suggesting that you not have taxes withheld. We just advise that you not have extra withheld. If you are getting a tax refund of more than a few hundred dollars, you could easily correct that by adjusting your deductions.
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Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
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