Taxes - Do you prefer owing or refunds?

[adamak]

I have always worried about having to pay taxes in April. But in recently years I got too much refund and I feel stupid to give investment money to the government.

For those who prefer to pay in April, how do you save up during the year for the taxes? Do you think it's worth it? And how do you know how much to stock away?

 

[becka]

I prefer getting a refund. I know it is not the smartest financial move but I HATE having to write a check in April.

 

[helenabear]

Breaking even (more or less) is what I prefer the most. I don't mind the refund but I hate the thought of losing the interest, but I hate having to pay a lot as well.

 

[janette]

I prefer to come within a couple of $100 either way. I'm getting quite a bit back this year and it could have been better used elsewhere. We are changing our w-4's and increasing savings at the same time so we should come home with about the same. I'd rather earn the interest.

 

[jamsmom]

I like getting a refund- stupid to let them have the money throughout the year, I know. But, when i get a refund, I can buy next IRA and pay for next Disney trip....or almost pay

 

[Grog]

I pretty much break even. Last year I owed $34, this year I am getting back $36. I owe more years than I get refunds but it is never more than $25-$50

 

[aahmom1]

Obviously I would prefer a refund, is there anybody out there who likes to hand more of their money to the government? If so, please send them my way, they apparently have too much.

 

[caitycaity]

i also prefer to come within $100, either way.

 

[Mark P.]

Might not be the smartest fiscal thing to do, but we opt to get a refund that takes care of the annual trip to Disney. We also put a chunk of the refund in our savings to pay for school clothes and Christmas gifts.

 

[Serena]

I want to break as close to even as I can.

 

[KimRaye]

I know all the drawbacks but, I prefer a refund. I've never paid in April, EVER. This year, I'm getting new carpeting!

 

[catsrule]

I prefer a refund. This is the first time we are getting something back from the state. Not much, but at least we don't owe...yay!

 

[Mamu]

When you have no deduction to take at the end of the year. It's a sad day when you file your taxes.

When my DH retired because of a injury. We were very excited, but we soon learned early retirement stinks! Little did we know between the state and federal government 1/6 of our earnings would be going back.

We all feel that pinch when taxes are taken out of our weekly earnings. It's wonderful to get a refund even if it's only a dollar. I would love a weekly pinch. When filing taxes I end up with a punch that knocks me cold for a few weeks.

Yes a refund would be wonderful.

 

[Cindy B]

Silly, I know but I prefer a refund as well.

 

[DVC-Don]

We shoot for 0, but wind up owing a bit every year. I'd rather do that than let the government use my money without any interest.

 

[Blondie]

We prefer a refund too!

 

[Dodie]

I prefer to get a refund. I know it is silly to let the government draw interest on my money, but, for us, it is a GREAT way to ensure that there will be some "free money" that shows up in the spring for a vacation or something like that.