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      02-05-2013, 12:38 PM   #13
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Drives: F80 M3 - Evo IX MR
Join Date: Oct 2008
Location: NM

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Originally Posted by wv128bmw View Post
I am a financial planner and can not get it through my clients head. A tax return is nothing but their money that the government held all year. Why do people still insist on a refund.

Lets put this as simple as possible. If you are not writing a check on April 15th then you messed up!!!!! ( I have a few clients that have changed - one actually last year came $20 from owing a penalty- my hero).

Op ask your tax lady how to change your with holdings to the correct amount. Then bank the difference every paycheck. At the end of the year you will have your refund PLUS interest BEFORE you do your taxes.
Im a CPA and I totally understand your thought process. I do friends tax returns and they enjoy getting a few grand at tax time. Theyve tried it the other way, but put the money away for a bit then end up spending it because the difference is so minor month to month. Its obvious that if you can be responsible and put the money away the benefit is in withholding less and trying to minimize tax paid/refund at year-end. But if you enjoy spending money and cant get the benefit of the interest etc then it doesnt make a difference what you do ha. All depends on spending it over time or taking the bigger refund and throwing it all on BLACK !
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