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Reply to "First return after buying house- How much did you get back ?"
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[quote=Anonymous]Tax refunds are essentially interest free loans you make to the government, so they're not something you should look at as a good thing. The ideal tax bottom line IMO and my accountant's, is to owe about $500 or less so you won't have to do estimated payments next year, but you also haven't been giving the govt. the use of your money for free (at no interest). If you get a big refund adjust your withholding so that you will not overpay so much next year via withholding. Tax refunds aren't "gifts" or manna from heaven, they're your money coming back to you after not growing for as long as the govt. has held it. [/quote]
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