I’d rather keep more money from each pay check than get a big refund

I’d rather keep more money from each pay check than get a big refund | I owed taxes this year! Better to get an interest-free loan from the government instead of the other way around | image tagged in memes,success kid,income taxes,taxes,tax refund | made w/ Imgflip meme maker
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213 views, 3 upvotes, Made by MnMinPhx 1 year ago memessuccess kidincome taxestaxestax refund
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1 up, 1y,
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Titanic | I PREFER A REFUND. | image tagged in titanic | made w/ Imgflip meme maker
Not only does it ensure that I won't have to owe, it means something I am saving for actually gets saved for. Just an easy way to save a decent amount and be sure it doesn't get squandered instead of saved.
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1 up, 1y,
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I do the same by direct depositing a portion of each paycheck into a money market account. Then after a year, I get all that money plus interest — after paying taxes of course.
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1 up, 1y,
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Whatever works! I had considered that. It's having the required minimum to start that can be difficult if you don't have it. I have been saving more the past year though, and would like a better savings option. Maybe you just talked me into checking into it. I suppose you get taxed on the interest?
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1 up, 12m
Yes, interest is concidered part of your income but it usually isn’t enough to affect your tax bracket.
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I owed taxes this year! Better to get an interest-free loan from the government instead of the other way around
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