Comments on: 5 easy ways to increase your savings http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/ An honest look at family finances Wed, 17 Mar 2010 05:20:40 +0000 http://wordpress.org/?v=2.5.1 By: Laina http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-2290 Laina Mon, 27 Oct 2008 13:52:43 +0000 http://wideopenwallet.com/?p=189#comment-2290 Good words. Good words.

]]> By: companylist http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-2113 companylist Sat, 18 Oct 2008 14:43:45 +0000 http://wideopenwallet.com/?p=189#comment-2113 good tips. maybe i can begin with saving my changes. good tips. maybe i can begin with saving my changes.

]]> By: Anna http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-973 Anna Mon, 01 Sep 2008 01:16:43 +0000 http://wideopenwallet.com/?p=189#comment-973 Wow! I actually do all five of these! Even though I know I'm saving money, the end seems SO far away! Thanks for the great tips. Wow! I actually do all five of these! Even though I know I’m saving money, the end seems SO far away! Thanks for the great tips.

]]> By: Valuable Links For Your Life-Aug 10-08 | Value For Your Life http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-650 Valuable Links For Your Life-Aug 10-08 | Value For Your Life Sun, 10 Aug 2008 21:12:36 +0000 http://wideopenwallet.com/?p=189#comment-650 [...] Open Wallet shares 5 Easy Ways to Increase Your Savings. These are simple but effective suggestions since getting started on saving is often the hardest [...] [...] Open Wallet shares 5 Easy Ways to Increase Your Savings. These are simple but effective suggestions since getting started on saving is often the hardest [...]

]]> By: More Great Personal Finance Carnivals | artofthecoupon.com http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-593 More Great Personal Finance Carnivals | artofthecoupon.com Mon, 04 Aug 2008 11:30:51 +0000 http://wideopenwallet.com/?p=189#comment-593 [...] I Ever Received.  I especially enjoyed reading The Reluctant Spouse at Not The Jet Set and these 5 Ways to Increase Your Savings that Wide Open Wallet [...] [...] I Ever Received.  I especially enjoyed reading The Reluctant Spouse at Not The Jet Set and these 5 Ways to Increase Your Savings that Wide Open Wallet [...]

]]> By: squawkfox » Carnival of Personal Finance: City Slickers Edition http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-592 squawkfox » Carnival of Personal Finance: City Slickers Edition Mon, 04 Aug 2008 11:27:45 +0000 http://wideopenwallet.com/?p=189#comment-592 [...] Open Wallet shares 5 easy ways to increase your savings. Number five is a good [...] [...] Open Wallet shares 5 easy ways to increase your savings. Number five is a good [...]

]]> By: Passing the week. . . « “the tax guy” http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-582 Passing the week. . . « “the tax guy” Sun, 03 Aug 2008 12:51:24 +0000 http://wideopenwallet.com/?p=189#comment-582 [...] 5 easy ways to increase your savings from Ashely at Wide Open Wallet. Along with Green Living: Energy Smart shows we can all be doing [...] [...] 5 easy ways to increase your savings from Ashely at Wide Open Wallet. Along with Green Living: Energy Smart shows we can all be doing [...]

]]> By: Bruce "the tax guy" http://wideopenwallet.com/2008/07/5-easy-ways-to-increase-your-savings/#comment-519 Bruce "the tax guy" Mon, 28 Jul 2008 13:53:43 +0000 http://wideopenwallet.com/?p=189#comment-519 Since everyone is still sleeping I can sneak in some tax stuff here (I am supposed to be on vacation). Anyway. . . I agree with your five ways to save but wish to point out a few things about #3. This is dependent on ones situation. (I think you knew this was coming by the “Oh the controversy!”) I won’t go into all the possible scenarios, but I would like to point out that a series of “big tax refunds” could trigger an IRS audit. I am not saying this is bad. Audit or not the IRS can’t make you change your withholdings so your return won’t generate that large refund. But who wants the hassle? Maybe claiming zero isn’t the answer. However I would advise a visit to ones preparer, or search the www.net for withholding calculators or calculators that will help determine what your tax might be and guide you in w-4 calculations then adjust to have extra with held (0 withholdings would be right on the money/mark for most). If zero isn’t the best idea then on your federal and state w-4 have an extra whatever withheld to get the refund. I urge caution and a thorough plan before just claiming 0. Since everyone is still sleeping I can sneak in some tax stuff here (I am supposed to be on vacation). Anyway. . .
I agree with your five ways to save but wish to point out a few things about #3.

This is dependent on ones situation. (I think you knew this was coming by the “Oh the controversy!”) I won’t go into all the possible scenarios, but I would like to point out that a series of “big tax refunds” could trigger an IRS audit.

I am not saying this is bad. Audit or not the IRS can’t make you change your withholdings so your return won’t generate that large refund. But who wants the hassle?

Maybe claiming zero isn’t the answer. However I would advise a visit to ones preparer, or search the http://www.net for withholding calculators or calculators that will help determine what your tax might be and guide you in w-4 calculations then adjust to have extra with held (0 withholdings would be right on the money/mark for most).

If zero isn’t the best idea then on your federal and state w-4 have an extra whatever withheld to get the refund.
I urge caution and a thorough plan before just claiming 0.

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