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Your "Gift" from the Government
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Your “Gift” from the Government
With tax season in full swing, I thought I would touch on the subject of the tax refund. If you get out of the house at all, you know that people are already talking about how they are going to spend their tax refunds. These people drive me crazy! Let me make this very plain and simple: A refund means that you overpaid your taxes throughout the year. It’s not a gift! You just paid the government too much money. You basically lent the government money (interest free); they invested it, made some profit, and then returned to you whatever you overpaid throughout the year. If you are getting a large amount of money back this year, you need to take a serious look at your deductions with your employer and make the changes to pay only the amount of taxes you owe throughout the year. When you do this your amount of take-home pay will increase and you can use this money throughout the year to pay down debt and get an emergency fund in place. Remember, a tax return is not a gift; it is your hard-earned money. Don’t spend it foolishly!
Make Tomorrow Better Than Today!
Categories: Financial
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2 Comments
That is a gift the government takes money from hard working families and individuals and gives it away to those less fortunate. I don' actually agree with this practice but it is how the governement operates.
Any how I agree use your refund to pay off debt or to invest in something that will create income. Use well what you have.
Great site,
Keep up the good work.
Thanks
Casey
Thanks for the encouragement.
Ed
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