Refund or tax bill?

Question

Mom and I were debating this morning.
We always pay in during tax time- I prefer paying in a small amount because if I have my money in my accounts it is earning interest rather than it being with Uncle Sam.
But my mom prefers a return so she isn’t surprised with a tax bill.
Which do you prefer?

Answer

Logically, it makes sense that owing money when you do your taxes is the most fiscally beneficial options, because it means you had extra money to use throughout the year. However, I love the psychological boost of getting a check back that I didn't already plan for.

Answer

Fiscally, my dad always told me it's better to get a bill than a refund, because that's money that's yours that you could have been collecting interest on but you weren't. 
That check always excites me tho I can't lie! (And the rate interest rates are going, tbh, I'm not earning shit in my savings anyways)

Answer

my husband rather owe money than get money. before we married it was always just a tiny amount  (less than $20). he says if he can't get an interest free loan then why should the government and he's not going to pay more than he absolutely has to. my father feels the same way. I don't care enough so I'm cool with getting the refund.

Answer

My husband is a tax specialist and he calls them "interest free loans to the government" when you get a refund. Personally I love refunds, I didn't need the money and didn't miss it and now I don't have to pay anything more AND you'll pay me back some of what I paid? Love that!

Answer

I don't think I understand the way you phrased it. When working (I'm currently a stay at home mom and my SO works)  I always claimed zero exemptions because, when living paycheck to paycheck, I'd rather not be surprised with owing money at tax time because chances are I wouldn't have it anyway. Claiming zero exemptions leaves me less likely to owe money than claiming exemptions.

Answer

This is the first year I got something back & I fucking loved it 🤷🏻‍♀️😂

Answer

Taxation is theft. I prefer to not be stolen from to begin with.

Answer

Refund. 
It’s just simpler for us this way.

Answer

I'm not bad with money per se, all my bills are paid on time and I save a little every month...but I also feel like when I have the extra money I will likely spend it. Whereas when I get a big refund I put it straight into savings where it starts collecting interest then and I'm not tempted to spend it because its separate from what I get on my paychecks. I've built a decent savings with tax refunds over the last few years

Answer

Refund.  Because I don’t want to be surprised by some astronomical bill that I would owe. The IRS is no joke. My understanding is they will just take your possessions if you can’t pay. I wouldn’t want to ever be in that situation. You may think you have plenty of money (to pay the bill) now but you just never know what could happen in a year.

Refund or tax bill?

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