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I started doing our taxes yesterday, and initial estimates (I’m still waiting on one W2) look like I’ll end up owing the government over $1500! Ouch! It’s one thing to have those taxes taken out of your check as you get paid, but quite another thing to have to write a check that big for things like…
Governor limo rides to work everyday and $100 million of unused flight tickets.
Oh yeah, don’t forget my (least) favorite one:
The Defense Department has uncovered its own credit card scandal. Over one recent 18-month period, Air Force and Navy personnel used governÂment-funded credit cards to charge at least $102,400 for admission to entertainment events, $48,250 for gambling, $69,300 for cruises, and $73,950 for exotic dance clubs and prostitutes. (heritage.org)
Makes me sick.
Yea, We have had to pay the last few years. It really is a downer. The more you dig the worst it gets with the government stuff.
Honestly – and I’m sure you’ve heard this before – it really is better to have to pay That way you have your money to use all year, rather than giving the government an interest free loan. At least that’s what I’ve heard…
Wow, what a flashback! That also happened to us the first full year that we were both working. Yes, owing really is financially smarter — but only if you’re expecting it and have the money set aside. We both ended up changing our deductions to zero, plus I had to have additional funds deducted beyond that just to keep us even. Taxes get better after you have kids (though everything else gets more expensive).
Yeah, you’re right, it’s better to collect interest on it through the year than let our government do so. (Of course, if you owe too much they fine you, so that’s not good either)