UNDR8D
...has a job!
I am not an accountant. This is relatively basic information. When you fill out tax information for a new job or at year's beginning, you have the option of claiming yourself for an exemption. This means that less will be withheld from each paycheck. Many people claim zero exemptions during the year for the purpose of getting a larger refund at year end. This is retarded though because the federal government is holding your money, earning interest on it and/or utilizing it to their benefit, and not paying YOU interest. This would be like a bank just holding your money for you, all the while earning interest on it. If they are deriving utility from it, you should be compensated. This is obviously not how the tax system works so the less they take, the more you keep and the more potential you have to utilize each dollar to your benefit. If you want to understand this more fully, try this:
1. Figure out the difference between zero and one exemption.
2. Claim one exemption
3. Put that money into a savings account and earn interest.
The interest is the difference between letting the government hold on to it, and you holding on to it. Crafty tax evasion is a secret of the wealthy.
1. Figure out the difference between zero and one exemption.
2. Claim one exemption
3. Put that money into a savings account and earn interest.
The interest is the difference between letting the government hold on to it, and you holding on to it. Crafty tax evasion is a secret of the wealthy.