Last weekend I got my W-2 and decided to take a jab at my taxes. I am one of those who like doing their taxes themselves and doing them fast. Until last year I used to qualify for the free e-file thanks to my measly student income. Not this year. Fortunately as a State Farm customer I get to use Turbo Tax's deluxe edition ($29.95) for free. And my pleasure was so short lived. After plugging in all the numbers leave alone a refund, I owe a little more than a grand to Uncle Sam. I could not believe it and tried it out on many other tax softwares and tax calculators. What is to be will be.
After all these years of getting everything back this did not feel so good. Anyway being single and no mortgage seem to have its own disadvantages. Well the only disadvantage I can think of thus far.
I thought I will call my HR manager and ask her to maybe make some adjustments to how my taxes are being withheld. But decided against it. I would rather pay up than get a refund because the refund is after all "an interest free loan to Uncle Sam" (I have read this in everyone of the PF sites I visit).
All said and done a minor setback on my way to a positive networth.
Subscribe to:
Post Comments (Atom)
1 comment:
refund is after all "an interest free loan to Uncle Sam
What does this mean???explain..how refund is not good for international student??
Post a Comment