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03-20-2007, 10:02 AM
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Quote:
In 1976, it was increased to $1,750. In 1981, it was increased to $2,000 and stayed there until 2001, 20 years later. Obviously, $2,000 in 2001 was a much smaller percentage of income than it was in 1981. At least they finally bumped up the contributions to the current $4,000. It goes to $5,000 next year and then will grow with inflation.
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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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03-20-2007, 12:15 PM
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I got a $500 refund between Fed and State. I'm happy with that. I hate to owe, so I'd rather get a small refund. Yeah, I know I could have made 5% interest, but honestly, if the money was in my check, I'd likely find a way to spend it and it wouldn't make it to savings to begin with. This way I've got a nice little "bonus" I can use to bolster savings, pay down debt, or like what happened this year, fix DH's truck.
I don't think huge refunds are good though, anything over $1000 would have me looking at our withholdings to see if we could adjust it.
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