IRS: Taxman or savings enforcer?
- Posted by Sharon McNary
- on January 27, 2009 12:00 PM
Richard Berman of Hull, Mass. knows he could make more by investing his money in a CD or money-market fund, but he prefers to let the government double as his annual savings plan…
He has more money than is necessary to pay his taxes withheld from his paycheck in order to get a hefty check later.
I look at it as a way of forced savings that I might not otherwise do. I take that large annual infusion and pay off a bill or two, but primarily I set it aside for our vacation, travel and fun fund.
Last year, he bought a big flat screen TV.
How do you grapple with your taxes?