Tilted Forum Project Discussion Community - View Single Post - How do some people get so much back on their tax returns?

yellowmac · 02-07-2008, 08:17 AM

I wouldn't worry about other people and their tax returns. If they're getting a big fat refund, as ratbastid has said, they've given the government an interest-free loan for the entire year. Not exactly in everyone's self-interest.

What I would worry about is educating yourself on your own tax situation. I don't know how much you know already, but make sure you know the basics. Figure out how to reduce your own personal tax liability. Talk to others and figure out how they save on their tax bill. Donate more to charity to get the tax deduction, etc. Though I personally think that most people should do their own taxes, talk to a tax professional to get some more advice and help if you feel like you need it.

The IRS has a helpful basic publication, as well:

http://www.irs.gov/pub/irs-pdf/p17.pdf IRS Publication 17 "Your Federal Income Tax" [~3 MB file]

02-07-2008, 08:17 AM	#8 (permalink)
yellowmac Insane Location: left coast	I wouldn't worry about other people and their tax returns. If they're getting a big fat refund, as ratbastid has said, they've given the government an interest-free loan for the entire year. Not exactly in everyone's self-interest. What I would worry about is educating yourself on your own tax situation. I don't know how much you know already, but make sure you know the basics. Figure out how to reduce your own personal tax liability. Talk to others and figure out how they save on their tax bill. Donate more to charity to get the tax deduction, etc. Though I personally think that most people should do their own taxes, talk to a tax professional to get some more advice and help if you feel like you need it. The IRS has a helpful basic publication, as well: http://www.irs.gov/pub/irs-pdf/p17.pdf IRS Publication 17 "Your Federal Income Tax" [~3 MB file]