Hi Dan, I read the feature article here every week but have never commented before. Yours was very entertaining while also educational. I was a small custom builder for about 30 years and I was always amazed at the comments from employees, subs, and helpers that centered around tax refunds. They don't take one minute to understand withholding. A lot of Americans use their refunds as their only savings tool...then spend it anyway. Your client, who turned his retirement savings into cash during the recession, then put it into a new pick-up truck, wins the prize. I saw a close friend do nearly the same thing, buying an expensive sports car. The car is no longer in his garage and the cost of that transaction was immense. Thanks very much! CW
Comments
Hi Dan, I read the feature article here every week but have never commented before. Yours was very entertaining while also educational. I was a small custom builder for about 30 years and I was always amazed at the comments from employees, subs, and helpers that centered around tax refunds. They don't take one minute to understand withholding. A lot of Americans use their refunds as their only savings tool...then spend it anyway. Your client, who turned his retirement savings into cash during the recession, then put it into a new pick-up truck, wins the prize. I saw a close friend do nearly the same thing, buying an expensive sports car. The car is no longer in his garage and the cost of that transaction was immense. Thanks very much! CW
Post: Taxing Our Brains
Link to comment from December 20, 2023