Tax Refund
03-17-2003, 11:13 AM
#12
Senior Member
Join Date: Aug 2002
Location: Indianapolis, IN
Posts: 123
Originally Posted by Tom93R1' date='Mar 17 2003, 08:13 AM
[quote name='Baldy' date='Mar 17 2003, 07:38 AM'] I remember reading in one of my Personal Finance books about how many millions (or billions?) are lost in interest from the government taking money during the year then giving it back, minus interest...kinda makes you think...
So if you end up paying money, from the interest perspective, the government is actually losing money in interest while you're holding that money for the year.
I'm gonna stop before I confuse myself.
So if you end up paying money, from the interest perspective, the government is actually losing money in interest while you're holding that money for the year.
I'm gonna stop before I confuse myself.
Yep.... learned bout this in finance the other day. If you owe, according to the present value of money, you could have invested the money and YOU earned interest on it, instead of the government....
If you get a refund, the GOVERNMENT was making money on interest cause they were holding your money, instead of you.
Only thing is though if you dont plan on owing, it sucks...... cause then you are just thinkin bout how much money you have to scrounge up to pay uncle sam
03-17-2003, 12:21 PM
#16
Senior Member
Join Date: Sep 2002
Location: teh frozen nort
Posts: 1,030
Originally Posted by r0t0r-rooter' date='Mar 17 2003, 09:29 AM
I think we need to start a Church of the Rotor or something..... declare ourselves a religion and pay no taxes
Judge Ito can be the High Priest.
J
03-17-2003, 03:16 PM
#18
Senior Member
Join Date: Jan 2003
Location: London, Ontario
Posts: 2,871
HMMM, this reminds me I better get the software and get to it. I'm expecting a good refund this year, because we get a refund if more than a certain percentage of your gross was spent on rent. My rent was HUGE last year.
