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

kutulu · 02-07-2008, 09:18 AM

There are so many ways to answer the question. The most simple is how your W-4 is filled out. I like a nice refund. This year's was actually a lot more than I was expecting. We had a second child and this was the first year that we had enough deductions to use the itemized deductions (deducted interest from our mortgage). I ended up with a refund of about $3000. However, half of it is going right back to pay my property taxes.

I think of it as like an escrow account for my property taxes. After that, sure I could get an extra $60 per paycheck but honestly, if I took in an extra $60/paycheck I'd probably just waste it on stupid shit like more expensive food. Instead, I'd rather withhold the money and get a nice lump sum payment and do something special.

02-07-2008, 09:18 AM	#11 (permalink)
kutulu Junkie	There are so many ways to answer the question. The most simple is how your W-4 is filled out. I like a nice refund. This year's was actually a lot more than I was expecting. We had a second child and this was the first year that we had enough deductions to use the itemized deductions (deducted interest from our mortgage). I ended up with a refund of about $3000. However, half of it is going right back to pay my property taxes. I think of it as like an escrow account for my property taxes. After that, sure I could get an extra $60 per paycheck but honestly, if I took in an extra $60/paycheck I'd probably just waste it on stupid shit like more expensive food. Instead, I'd rather withhold the money and get a nice lump sum payment and do something special.