Let me just say this... Income Tax makes NO SENSE!!! I mean, I love getting money back and I am quite happy to get these annual "bonuses", but this stuff is C~R~A~Z~Y! I remember when we did not have children and people we knew always got big money back, while we were happy if we got $100 back... or if we, at least, did not have to pay in. Last year we got a significant tax return last year, so we made some changes to our W-4 form, so we would get our money up front month to month. It worked out well this past year and even covered the cost of my health insurance premiums. It was pretty good year for us financially for a single income family with four kiddos and homeschooling costs (books, supplies, conference expenses). I have been feeling like we accomplished the goal... we made it through without incurring further debt with more expenses this year and less money than most people live off of. I decided in my little mind that our income tax return would be low and really that was the goal. I mean, so that we had more of that money throughout the year to live on and less accumulating interest for the government. If someone is going to make interest off it, I would like it to be me. ;) Guess what?! I did my taxes (TurboTax) and I was pleasantly surprised to see that we are getting more back this year than last year. That was fabulous and my husband did not even believe I was telling the truth... shame on him. ;) BUUUUUTTTTTT.... it is nuts! It makes no sense. We are getting back way more than we even paid in for the year because we have four kiddos. Seriously, did these laws really get VOTED IN? It is no wonder our country is in financial ruin because they do not understand the basic principles of math. You know 1 + 1 = 2... U. S. Government version is 1 + 1 = 10. LOL!
I have a theory.... it goes something like this and it is sooooooo simple. If you make money you get taxed a set percent across the U.S.. Everyone pays in the same and at the end of the year they divide up the overrage and return it or spend it on a voted on worthy cause. The other part of the theory is for the U.S. not to spend money BEFORE they have it. It is soooo simple. And yes, I know it will NEVER happen. Still my theory, though. ;)
TIP OF THE DAY: The Number One rule to get out of debt is: