edpaffjr.comOver the years I’ve become accustomed to receiving a rather large tax refund check around this time of year. Last year, after filing our taxes, I went along with Turbo Taxes suggestion to rework our W-4’s so that we neither owe a large amount or receive a large refund. The theory behind this is that we get to keep more of our earnings throughout the year so that we can invest it ourselves. Well, it actually worked. We will likely owe around $200 to the federal government, while our state refund will still be a few hundred bucks. The question now is where exactly did all of that extra money go throughout the year. I’m not really sure that we have much more invested than we normally do. I guess we should put more of each paycheck aside this year so we can really see the difference it makes.
2 Responses to “I’m The Tax Man”
Leave a Reply to Collins
I did the same thing this year and I also owe a small amount but at the same time I have no idea if I got that large of an amount as I normally get. Maybe I spent more cause my checks seem bigger, need to check on Mint and see how the earnings compare year over year.
Good call. I checked our earnings, and we did earn more this year even when taking raises into account. I guess it’s just harder to notice when you don’t get that big check at the end of the year. The nice thing is that we somehow spent less than last year, though our wedding was a big chunk last year.