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What Comics Are You Gonna Buy With Your Tax Return Checks?

Started by NewEnglandGothic,

78 posts in this topic

Legion HQ

Legion HQ

Posted
Posted
Getting a tax refund check is OVERWHELMINGLY STUPID. You've given the Federal government an interest free loan of your money for 18 months.

 

Anyone who wants to give me money all this year, I will pay you back next May. That's what you're doing if you're getting a tax refund check. :facepalm:

 

:blahblah: I'd rather loan the government the money for a few months interest-free, then stress over paying hundreds / thousands of dollars in one bank-busting payment the following year. My parents just suddenly had to spend $7k on a new heating unit for their home yesterday. I know they're also going to owe money from their taxes, money they just had to spend on an emergency. Their entire year will now be stressful. Worth it to save a bit of interest or whatever? Not to me.

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N/A

N/A

Posted
Posted
Getting a tax refund check is OVERWHELMINGLY STUPID. You've given the Federal government an interest free loan of your money for 18 months.

 

Anyone who wants to give me money all this year, I will pay you back next May. That's what you're doing if you're getting a tax refund check. :facepalm:

 

:blahblah: I'd rather loan the government the money for a few months interest-free, then stress over paying hundreds / thousands of dollars in one bank-busting payment the following year. My parents just suddenly had to spend $7k on a new heating unit for their home yesterday. I know they're also going to owe money from their taxes, money they just had to spend on an emergency. Their entire year will now be stressful. Worth it to save a bit of interest or whatever? Not to me.

 

You can work it so when you file you are essentially even. :makepoint:

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Legion HQ

Legion HQ

Posted
Posted
Getting a tax refund check is OVERWHELMINGLY STUPID. You've given the Federal government an interest free loan of your money for 18 months.

 

Anyone who wants to give me money all this year, I will pay you back next May. That's what you're doing if you're getting a tax refund check. :facepalm:

 

:blahblah: I'd rather loan the government the money for a few months interest-free, then stress over paying hundreds / thousands of dollars in one bank-busting payment the following year. My parents just suddenly had to spend $7k on a new heating unit for their home yesterday. I know they're also going to owe money from their taxes, money they just had to spend on an emergency. Their entire year will now be stressful. Worth it to save a bit of interest or whatever? Not to me.

 

You can work it so when you file you are essentially even. :makepoint:

 

I do that somewhat. But I err on the side of caution. I'm not a tax expert, and don't have the luxury of a bunch of deductions like others might. So, I prefer to play it safe since I know I'm terrible at saving money.

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Legion HQ

Legion HQ

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Posted
I'm all for playing it safe but the return should not be substantial as it is implied here. (thumbs u

 

True, I get that. Generally, my returns fall between $500-1500. Don't know if that's considered substantial. But I enjoy the mid-year "bonus" every year. :grin:

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batman_fan

batman_fan

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Posted

I am still working on trying to balance thing out for my taxes but since 20% to 60% of what I make is tied to the companies earning and stock price, it gets hard to get it just right. Actually, I would just be happy to not need to file an extension this year.

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Bomber-Bob

Bomber-Bob

Posted
Posted
Getting a tax refund check is OVERWHELMINGLY STUPID. You've given the Federal government an interest free loan of your money for 18 months.

 

Anyone who wants to give me money all this year, I will pay you back next May. That's what you're doing if you're getting a tax refund check. :facepalm:

 

I agree with you if the overpayment is planned but sometimes you simply have more deductions that you anticipated.

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dupont2005

dupont2005

Posted
Posted
Getting a tax refund check is OVERWHELMINGLY STUPID. You've given the Federal government an interest free loan of your money for 18 months.

 

Anyone who wants to give me money all this year, I will pay you back next May. That's what you're doing if you're getting a tax refund check. :facepalm:

I know it's better to have the money in the bank, but the people I know that practice it always have a tough holiday because of the upcoming tax bill. I'm somewhat responsible, I keep a few grand emergency funds in the bank and keep my debt to a minimum, but I just feel better knowing they the taxes are paid.
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hockey&comicsguy

hockey&comicsguy

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None considering that the wife has already spent last year's, this coming year and probably 3 years returns going forward on home renovations. Although I did get some good news today as she informed me the new master toilet will be the elongated kind so my junk doesn't get squished. Apparently she was thinking of me when deciding to remodel so I suppose I ought to be grateful. meh

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hockey&comicsguy

hockey&comicsguy

Posted
Posted
Getting a tax refund check is OVERWHELMINGLY STUPID. You've given the Federal government an interest free loan of your money for 18 months.

 

Anyone who wants to give me money all this year, I will pay you back next May. That's what you're doing if you're getting a tax refund check. :facepalm:

 

We agree on a lot of things but this probably isn't one of them. I think overwhelmingly stupid is a tad harsh. You're correct that it's an interest free loan. But I don't think you can just paint everyone with a broad brush as if what we're doing is the height of foolishness.

 

I work. My wife stopped working almost 10 years ago at age 24. We have 2 kids and live well. I have had a 5 figure return each of the past 5 years. I take out as much as I can and sock a bunch more into my 401k with plenty left over from check to check. I'm not saying an argument couldn't be made that I could find better uses for the money. But we don't need it and by doing our taxes the way we have we never worry about owing. The only thing I ever wonder about is if my return is going to be even bigger than the year prior. Who knows what we'd do with the extra money on a day to day basis. The way we do it now we get a large check every year and we do something like remodel our bathrooms. Last year we used it to put down a new stamped patio and walkways around our home. And we're just fine doing things in this manner. So I don't feel stupid at all.

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