Quote:
Originally Posted by joey2665
It’s really not crazy at all. You not talking about 10’s of thousands of dollars and with today’s interest rates you are losing an extremely minimal amount of interest especially when you consider it is amortized over every paycheck. Most do not have the disciple to save the 25-100 per week extra they are receiving in each paycheck and also do not want to risk owing 4/15. Many of my clients use it as a forced savings and when they receive their refunds they go on vacation, pay credit card bills or improve their homes.
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Spend, spend, spend! A good accountant would figure out how much taxes should come out each pay period so that at the end of the year $000 would be coming back, and then reccomend that the extra money be automatically put in a 401K for their future retirement.
This is what I did when the 401K first came out..but HEY, to each their own.