Your tax return? Is it?

[Watchfoxheadexplodes]

That extra money to catch up, pick up household items, car repair, savings account, etc.

Or

Found play money?

Seems ours is always catch up money but about every other year we find some fun 😀

[tymorial]

1. We always owe.

We don't own a home and we can't itemize.

[Watchfoxheadexplodes]

2. My biggest fear owing

But we make under 60,000

Lucky us huh?

Buying a home did seem to help although with trump I wait to see how messed up this year is.

[TheDebbieDee]

3. You can change your W-4 to withhold an additional $20 or $30 dollars out of each paycheck

so that you don't owe as much when you file (I have no idea how much you are owing when you file but you can withhold additional funds accordingly)...

And I have heard about other folks who have trouble saving cash sending a lot more additional withholding with the plan of getting a really big refund that they used to put down on a home...

[tymorial]

4. We already do.

Unfortunately where we live, the cost of living is high. We want to buy a house but we are going to move about 40 miles away from where my wife works. That wouldn't be so bad if it weren't for the ludicrous traffic around Boston. We just cannot afford a house around here. It's terrible for people entering the market. I feel bad because the commute will be awful but she is just now starting to get recognized in her company so it doesn't make sense for her to find a new position. Oh well.

[mopinko]

5. mine had to go to next years taxes.

[Yonnie3]

6. I don't get refunds

I make sure I owe some. I don't like loaning the government money for free. I am self-employed (just a very small thing) and also collecting retirement. I don't pay estimated taxes, but in December when I know within a few hundred dollars what I will owe, I do an IRA withdrawal and have 90% of it withheld for federal income tax. My tax money has earned for me for most of a year and I have met all the requirements to avoid penalties.

I guess for those who cannot make themselves save, over-withholding is useful. It certainly is not the optimum way to save.