So, we owe taxes this year. To the tune of over $1,500. Yikes. I can't remember a year where we've received a refund. We seem to always either break even (best scenario) or owe a small amount. This is the first time that we clearly underpaid in taxes.
Now, I know that it's better to owe than to receive a refund because you if you are getting a refund you are giving the government an interest free loan with your money yada yada. And yes, you could be taking that amount home, putting it aside and investing it. But, let me tell you, I'd rather give them a loan and get a lump sum back every year rather than to owe. I filled out new M-4/W-4 forms for us to make sure that we will receive a nice, juicy refund next year.
For those of you who are getting a tax refund, are you doing anything special with it? Banking it? Vacation? New TV?
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