Tax Refunds - What's the ideal amount?

It's that time of year again. The final days to get all your documents: W4, work expenses, and bank statements in order before the tax man comes a knocking asking for even more money. I know many people get excited to file their taxes because it means one thing: tax refund! You're probably excited to get a check in the mail from the government and your fingers are crossed for a big fat check none the less. The government is giving you money, great deal right. False!

 

This is your money and yiur just getting it back. The government thought it would just hold on to it throughout the year and earn interest on it. So here the real point. Your tax return every year should be 0 dollars, or as close to 0 as possible. Your mission every year to find the perfect amount to withhold from your paycheck and maximize the value of every last cent of the wonderful day thay happens but twice a month. You should keep that money that you worked so hard to get.

 

This response drives me crazy to no end, well if I get the money in paycheck I'll just spend it. I'd rather over pay and get the money back at the end of the year,I me a savings account. Every time I hear this another piece of soul dies. If you can't control your spending your screwed? Plain and simple. Just give up all hope of every having money in the bank let alone being rich. We're trying to get rich here at Fitsavefun. Rich can mean a lot besides just having money, but we're focused on having a lot of money in addition to loving and exploring the world with friends, family and strangers.

 

Back to my original point. Ahhhh! Never give the government another cent then they need. Every year they make millions if not billions of dollars in interest from this pile of money just sitting there in the bank from all the Americans over withholding their paycheck every month. This money belongs to the people not too the government. More money in the pocket of the middle class adds up quick and as a society and as a people we feel more rich. That feeling goes a long way.

 

Step 1 - Fight the urge and spend some time to learn how you can adjust your withholding to minimize your tax refund and maximize your paycheck. Step 2 - Control yourself, being fit and being rich is built on discipline. Step 3 - Keep the money in the hands of the people. Warren Buffet the famous investment billionaire called the IRS over a 14 dollar error. That might over kill but this mindset is the fuel that built his fortune. Discipline at all costs