Tax Basics

taxes and money

Why Getting a Tax Refund Means You Need to do This [VIDEO]

February 25, 2016 : Mike and Lauren – Guest Contributors

It’s exciting to get a tax refund. And a lot of us get them. Last year, the IRS issued 109 million tax refunds, with the average amount being $2,797. 

But what if getting a refund actually signaled something bad? Unfortunately, for many taxpayers, getting a refund could mean that you are allowing the government to hold your money, interest-free over the course of the year. We talk about how to make sure you are having the right amount withheld from each paycheck, instead of overpaying.

Read more about Form W-4. And see how changing allowances and withholdings affects your taxes.

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Mike and Lauren – Guest Contributors

Mike and Lauren – Guest Contributors

Mike & Lauren TV

Mike and Lauren began their YouTube career in 2008, when they went backpacking through Europe for 2 months, spending less than $10,000. They are determined to “retire” by Mike’s 31st birthday in 2018, documenting their journey and providing financial tips and tricks along the way.

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