Wednesday, March 11, 2009

Hit 'Em (Back) Right In The Wallet

Over at Q&O they've floated an idea that seems to be catching on.

The idea is simple. On April 15th, up your W-4 deductions so that only about 90% of your expected tax bill for next year is withheld. Take the extra money in your paycheck and put it into savings or invest it. Next year, pay what you owe on April 14th.

What does this accomplish? Well, it means Uncle Sam doesn't get your extra money to play with for free for the year, and won't get it until the last minute next year. Individually, the amount may be small, but if enough people do it, it'll be noticed.

I don't need the government to tell me how best to use my money.

1 comments:

dogette said...

I've done it that way for as long as I can remember. This whole "I'm getting a huge refund!!" brag is BS. When I hear someone say that, my first thought is always, "That's a sorry ass piece o' tax plannin' there, bud."

 
CLICK HERE FOR BLOGGER TEMPLATES AND MYSPACE LAYOUTS »