Gird your loins, everyone! Tax season is almost upon us.
International readers, today you are dismissed. Go prance off to enjoy your state-sponsored healthcare or hold a wealthy politician accountable for their actions. Or, if you enjoy being baffled and horrified by uniquely American shitfuckery, stick around! Because nothing will make you more grateful to live in Denmark, Canada, or Namibia than the tax laws of the United States.
A few years ago I asked Lauren this question: “When it comes time to file your taxes, would you rather receive a tax refund or owe taxes to the government?”
“Get a tax return. No question,” she answered.
Which surprised me! Because as far as I was concerned, I’d much rather owe taxes than get a tax refund. I told her as much, to which she said “Just wait until your income increases. You’ll change your mind real quick the first time you get a five-figure tax bill.”
So what was that all about? Which Bitch had the right answer? Is there a “right” answer?
Today I want to go over a little-known quirk of the tax system, one that affects taxpayers from all across the income spectrum. And in the end, I’ll go over what you can do about it to save yourself the most money in the coming tax season.
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