Just be careful. If you are too underwithheld you'll have to pay interest & penalty to them.

when in doubt, just withhold what you owed the prior year, that is a safe harbor even if you end up massively under-withheld.

110% if your taxable income is over $150K & you aren't a farmer, but yes. Not a bad idea.

We generally don't go out of our way to overpay, but we always do and get a decent return each year. I like getting the return because we almost always use the money on something that we've needed but didn't have the money for, or a trip, etc.

This.

It helps after buying a house because we can take that money and put it back into the house.

My strategy

Yup.

Let's see.....this year any return goes to finishing the basement or a damn fence for our backyard. Or a new bed.....**** we need a new bed.

I think we're going to get hardwood floors in the kitchen and living rooms.

Nice!

I'd like to do that and add an overhang in our backyard. We'll see though.

Last year we got close to $9000 back and that was before the whole buying a house thing.

Wow. That's a ton back. When we still had daycare, we were getting back $4,000-$6,000.

Damn.. that's way overpaying.

We get a shit ton of credits.

3 kids
Day care credit
School Credit for my wife
School loan interest for myself.

Well and my wife doesn't pay state taxes....so I get to claim all of that for my state taxes.

That's a bit morethan we get back. Last year we were aroind $7K.