I am claiming 1 on my taxes and it says I will owe at the end of the year. HELP!!!

Once you plug in your deductions you should not owe anything, especially if you are over the road. Once you put in your per diem you may even have a credit. Then there are other deductions, uch mortgage interest and certain other taxes. It is a good idea to keep an eye on your taxes. I would rather have to pay at the end of the year rather than have them give me a refund for over payment of taxes. If you get money back you have over paid. I can't see giving the government an interest free loan.

 

I prefer, as others, to break even or have to owe a few bucks at the end of the year. I have real problems with giving the gooberment a interest free loan all year long and then have to jump thru all their hoops to get my own money back.

 

So how much interest did you make? 2-3 dollars. Not having the govt holding your money is a good thing, but don't try to doll it by saying you make money on it.

 

I didn't claim it was a way to get rich. What I did years back was to deposit my entire refund check into a high interest savings account, and ever since have had 25% of my paychecks deposited into it. I only ever take out money to pay my taxes if needed, sometimes I will pay my takes from one of my other accounts.
But over the year, I have earned quit a lot in interest from money that I never would of seen if I just let the government hold it for me.

Here is a good article about how you could turn just $200 a month into a very nice nest egg...

I have a nice nest egg... Do you...

Too many people live paycheck to paycheck and struggle to get ahead... if only they knew how saving a few bucks each week adds up... then instead of living paycheck to paycheck, you have money in savings earning interest, you pay less interest on loans and credit cards..
Not saving is expensive...

 

There used to be a line on the W-4 where you could voluntarily pay more tax every week. You could put $25 a week in that field to guarantee a refund in April.