Tax refunds are actually bad investments

Submitted by a LOZO expert
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It's fun to get a tax refund each year, but really you are just getting your money back from the government who has been keeping it (and keeping the interest you should have gained) all year long. Check your withholdings to try to keep more money now, and less of a refund later. Then save, invest, or pay down debt with that money so you can keep the extra benefits, rather than the IRS.

A LOZO expert posted this tip.


User Comments

posted by mkahan (Contributor | 200 Points) on 03-21-2010 11:26 PM
Paying to get a known refund is even worse
There are services offered by H&R block, and others that give you a loan so you can get your refund even sooner. This is equivalent to borrowing at a really high rate of interest.
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