Take back your money for FREE

Ok, I'm assuming by now you have completed and filed your 2007 tax return or you are very close to doing so. I'm also assuming you received a refund. I'm sure you've heard that by getting a refund you are allowing Uncle Sam to use your money all year long without paying you any interest on your money. (This is true.)

With that being said, I know people are deathly afraid of owing money at tax time. So where's the balance? Hey, I even like getting a little refund. I found a tool that will help with this. Here's the link. It's Kiplinger's tax withholding calculator. You'll have to have your 2007 tax return in hand to use this tool.

When I ran the calculation for myself, it told me I should be claiming 2 extra withholdings. This would add another 87.50 per month to my take home pay. This sure will help when $4 a gallon gas comes this summer.