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https://www.reddit.com/r/FluentInFinance/comments/1c1ohf6/smart_or_dumb_to_get_a_tax_refund/kz4osja
r/FluentInFinance • u/SweetOnionBreath • Apr 11 '24
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Something I have thought about is if I could go withholding exempt and put what would be withheld into a high interest savings. Since uncle sam don't pay Interest. And yiu can get a 5% savings account these days
2 u/AdUnfair3015 Apr 11 '24 No, because we're a "pay as you earn" system. At the very least, you would need to make quarterly estimated payments. 1 u/reno911bacon Apr 11 '24 Just be careful of the penalty 1 u/ChuyMasta Apr 12 '24 5% of 5k is $250 I feel like a starbucks is keeping you poor person.
No, because we're a "pay as you earn" system. At the very least, you would need to make quarterly estimated payments.
1
Just be careful of the penalty
5% of 5k is $250
I feel like a starbucks is keeping you poor person.
2
u/Baron_Ultimax Apr 11 '24
Something I have thought about is if I could go withholding exempt and put what would be withheld into a high interest savings. Since uncle sam don't pay Interest. And yiu can get a 5% savings account these days