Your tax withholding strategy
 

Just a poll for random discussion now that tax season is rolling around again...

I typically owe $2500-$3000 every year. Why let the Government earn interest on your money?

I know logically it doesn't make sense, but I tend to fall into category 1. I like getting a nice "bonus" each year that I can then use for big purchases all at once. It's like a forced savings account. Granted, a savings account that pays no interest, but it's not like interest rates are any good with others right now anyway.

The reason the question is on my mind is that, with the recent changes to our taxes, I'd like to not take a "pay cut" on a monthly basis due to the new laws, so I'm considering reducing my withholding a bit to make up for it. We'll see.

I pound the hell out of the 401k so I don't make as much for them to take taxes from (now)

**** the Gubment, I ain't letting them hold my money for free, I would rather pay on the last day.

This

Same or similar

I voted #1. I can claim two on my tax returns but during the year I withhold for 1 so hope for the best return tax $$ I can get.

I just hope the hospital doesn't take what I owe them for not paying them this year.

Under. No way I am giving the government an interest free loan.

Every year I alternate between owing about $150 to getting $150 back. I adjust yearly to make sure I pay just about the right amount.

Because that $.42 in interest from your 1 YR certificate of deposit is going to make a huge difference in your standard of living?

Bob Dole gave up saving 2 years ago and started buying shit that should appreciate. Had the withholdings down to +/- $250 for a decade, but just had a significant change in salary, and have avoided trying to figure out the impact. Not looking forward to the tax form this year...

Move to Belize

I try to get as close to $0 at the end of the year as possible. No refund, no bill.

Actually, Bob Dole is having a discussion with some friends who are already there and a small group contemplating the idea of joining them.

Bob Dole's taxes are a mess... Stupid Bob Dole bought a house that doesn't even generate enough taxes and interest for Bob Dole to itemize.

Claim Married and 3 all year even though I'm divorced and have 1 dependent child and I'm still getting back around 3600(so far).