Money Your tax withholding strategy

R8RFAN · 01-08-2013, 06:05 PM

Quote:

Originally Posted by DaFace

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.

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

View Poll Results: What's your strategy for tax withholding?
I try and over-withhold so that I get some back at tax time	41	42.71%
I try and withhold the exact amount I'll need	36	37.50%
I try and under-withhold and just make up the difference at tax time	14	14.58%
What the hell are you talking about? Strategy? I just check the boxes and see what happens.	5	5.21%
Voters: 96. You may not vote on this poll