Comments on: Tax Checklist http://mindyourdecisions.com/blog/2010/01/28/tax-checklist/ Articles on game theory and personal finance Tue, 22 May 2012 15:59:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Presh Talwalkar http://mindyourdecisions.com/blog/2010/01/28/tax-checklist/comment-page-1/#comment-6363 Presh Talwalkar Tue, 09 Mar 2010 06:12:59 +0000 http://mindyourdecisions.com/blog/?p=1959#comment-6363 I agree refunds are to be avoided. I have had many arguments with people about this who feel it is psychologically easier to get a check than to write one. I find that it's not always possible to get a refund, however, if your job pays out a big yearly bonus or you do a lot of freelance work. But for those of you who do manage taxes responsibly, good job :) I agree refunds are to be avoided. I have had many arguments with people about this who feel it is psychologically easier to get a check than to write one.

I find that it’s not always possible to get a refund, however, if your job pays out a big yearly bonus or you do a lot of freelance work.

But for those of you who do manage taxes responsibly, good job :)

]]> By: G. Pearson http://mindyourdecisions.com/blog/2010/01/28/tax-checklist/comment-page-1/#comment-6295 G. Pearson Thu, 04 Feb 2010 00:54:51 +0000 http://mindyourdecisions.com/blog/?p=1959#comment-6295 The Checklist is great. I always find that organizing the information on charitable donations to be the longest part of the process. However, I was surprised to see you mention anticipation of a refund check. Isn't game theory about finding tactical advantages? Where is the advantage in giving the government an interest free loan instead of them giving YOU one? It is always my goal to owe the government several hundred dollars (enough to be worth the accrued interest but not enough to incur a penalty). It only takes the discipline to save the money and the knowledge to know how to set up your withholding to the correct amount. The Checklist is great. I always find that organizing the information on charitable donations to be the longest part of the process.

However, I was surprised to see you mention anticipation of a refund check. Isn’t game theory about finding tactical advantages? Where is the advantage in giving the government an interest free loan instead of them giving YOU one?

It is always my goal to owe the government several hundred dollars (enough to be worth the accrued interest but not enough to incur a penalty). It only takes the discipline to save the money and the knowledge to know how to set up your withholding to the correct amount.

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