LogFAQs > #914822972

....claiming yourself and family and hoping to owe nothing during tax season? I've heard plenty of time folks suggesting one shouldn't allow themselves to be over taxed and lend interest free money to the government by claiming nothing.

Depending on how responsible and discipline one is, for some folks I can see having that buffer of being over taxed and getting a refund later useful in ensuring they at least won't owe anything later. Some folks, like some of my friends, probably see that refund as "free" money and something to treat themselves with. I tend to use that refund for Christmas bills, hah!

Personally I only get on average $1,000 to $1,200 in refund each year and already regularly put in money into my mutual fund and Roth IRA accounts. Depending on the changes to the rate of interest, that $1,000 to $1,200 may or may not yield much. I recall some PotDers get several thousands in refund each year from various claims and deductions.

What is your usual stance and approach when it comes to the withholding on your paychecks?

Comments are appreciated,

Thank you
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