Thought of the day

Thank you, President Obama, for nearly tripling my federal tax return with education credits and the like.

P.S. TurboTax gave me nearly double what TaxSlayer would have given me for my federal return. However, for my state return, TaxSlayer improved my refund by 50% over TurboTax (plus it costs less).

4 Responses

  1. Now lets remember that those dollars are just imaginary.

  2. It always amuses me when people are giddy about large tax refunds. It just means they didn’t plan their deduction properly.The best returns are when you get just a little back because you didn’t pay too much all year long.

    It reminds me of years ago when people put money into their Christmas club all year long so they could buy presents in December, They didn’t understand how the banks were using their money and paying little or no interest to them and they could do much better using a savings account.

  3. I pay extra in on purpose. It’s like a savings account but without the temptation. Besides, most of my return in composed of education credits (tuition – grants and scholarships).

    As for Christmas Clubs, they tend to get the same rates as other accounts. They do benefit the banks more because they discourage customers from withdrawing funds (thereby closing the account for the remainder of the year), but they also benefit the customer by, well, discouraging them from using their money prematurely.

  4. …discouraging them from using their money prematurely.

    this is what amuses me. The tiny amount if self discipline required is abdicated to ‘big brother’.

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