Happy Tax Season!

[*bfine32*]

(04-18-2019, 11:02 AM)Benton Wrote: No real logic, just my opinion: it always seemed like it was better to owe in that I had those dollars during the year to invest in making more dollars. If I get to the end and get money back, the government kept money that was mine that I could've used to make more money. 

But that's just my opinion. I'd rather not pay all the taxes I do.

Correct. It's simple finance employing the Time Value of Money Concept.

[Belsnickel]

(04-18-2019, 11:02 AM)Benton Wrote: No real logic, just my opinion: it always seemed like it was better to owe in that I had those dollars during the year to invest in making more dollars. If I get to the end and get money back, the government kept money that was mine that I could've used to make more money. 

But that's just my opinion. I'd rather not pay all the taxes I do.

That's the logic focusing on the good it does you, and that's fine. Most people think primarily in that way. However, the steady revenue stream throughout the year is beneficial for government services and therefore society as a whole. So you reduce the lost opportunity costs by not missing out on investing money you would get as a return, but society as a whole also benefits with minimal additional opportunity costs to you by ensuring your withholding is accurate.

[*michaelsean*]

(04-18-2019, 01:35 PM)Belsnickel Wrote: That's the logic focusing on the good it does you, and that's fine. Most people think primarily in that way. However, the steady revenue stream throughout the year is beneficial for government services and therefore society as a whole. So you reduce the lost opportunity costs by not missing out on investing money you would get as a return, but society as a whole also benefits with minimal additional opportunity costs to you by ensuring your withholding is accurate.

[*bfine32*]

(04-18-2019, 01:35 PM)Belsnickel Wrote: That's the logic focusing on the good it does you, and that's fine. Most people think primarily in that way. However, the steady revenue stream throughout the year is beneficial for government services and therefore society as a whole. So you reduce the lost opportunity costs by not missing out on investing money you would get as a return, but society as a whole also benefits with minimal additional opportunity costs to you by ensuring your withholding is accurate.

Why don't you just tell them to keep your return?

[*Synric*]

I was able to purchase and write off my new 4-wheeler in a single year. Last time it took 3 years...It was 7 for a tractor and 5 for a front loader.

[Belsnickel]

(04-18-2019, 02:55 PM)bfine32 Wrote: Why don't you just tell them to keep your return?

Because that is your money. I'm talking about a balance between individual and collective need. Telling them to keep your return would tip that balance more towards collective need.

[JustWinBaby]

(04-18-2019, 04:20 PM)Belsnickel Wrote: ... and collective need. ...

Interesting choice of words...