Monday, March 19, 2007
No tax time blues
Thanks to the computer program (hmm ... guess which one) having my return from last year saved off on a server somewhere, it took me less time to do my taxes tonight than it did to wash and fold a few loads of laundry in my four-hopper apartment-building basement laundry room: 20th century laundry facilities, 21st century online tax filing software! And what's more? I'd been putting it off for this long because I feared having to pay the various authorities. But no! The little refund tickers at the top dwindled, dwindled, but did not go into the red. I'll be getting enough of a refund to pay the friendly little tax-o-bot its due, with a few shekels left over, to boot. While there may be something exciting about getting a bigger refund from the IRS et al, that's actually a sign that you gave the Feds a sizeable interest-free loan, when you could've invested it and made some extra money in the meantime. Of course the other extreme would be not to let them withhold enough throughout the year and get slapped with one of those nasty underpayment penalties. The government knows when YOU are borrowing interest-free out of its coffers, and does something about it in the end. So ideally, you want to get as close to zero without going over, or just going over a tad bit, so everybody's happy and doesn't lend too much of their money without their consent.