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Money and Finances
Reply to "Fed taxes sticker shock"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We always owe. Another 10k this year. Why do I bother working?!?![/quote] Owing $10k means that you borrowed that much from the government over the course of the past year. People not understanding the basics of taxes as an adult baffles me.[/quote] I'd argue that the person enjoyed the benefits of the $10k and had the opportunity to earn interest on it before handing it over to uncle Sam. They didn't "borrow" it from the government since [b]it isn't technically due until tax day.[/b] People not understanding the basics of taxes as an adult baffles me![/quote] Not true at all, as anyone who pays estimated taxes will tell you., If you pay all the taxes you owe on April 15, you will incur a serious penalty. [/quote] Agreed. I mean there are safe harbor provisions, but the interest and penalties can add up quick.[/quote]
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