I'm Not Winning the Lottery After All

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Actually, it would be quite difficult for me to win the lottery because I don't ever play the numbers, or at least it's so rare that it would be a miracle. But, when I got my w-2's from work printed off I thought we'd be getting a lot of taxes back in a refund because I thought I had a lot coming out this year. Normally, I try to keep my exemptions at work minimal so that more comes out each week. Not only does that ensure that I get something back but more important so I don't have to pay in at any time. Most years I will change how much is taken on our checks as I can access it online. I have the most taken out when we are cleaning windows and less during the winter months when we are not because most winters we are barely scraping by. Here in the United States you can claim the status of single or married and then zero exemptions up to a higher number. I've no idea the highest anyone might claim, but it's usually related to how many children they have under their roof. Because we don't have extra funds in the bank, we've found that it's easier to have more taken out throughout the year rather than owing at the end. So, I choose single status with zero exemptions which means that more will be withheld from each check. Then in the winter months I change it to married and either zero or one to give us a bit more in our checks so we don't have to borrow from family. It's nice that I can make these changes whenever I choose at my job. This last winter I didn't even think about lowering what was being taken out because I've been getting social security checks for the first time ever and also because we got a nice lump sum amount from my mom. Last year we got around fifteen hundred back, but this year it will be considerably less. So, I'm extra thankful that I never changed the withholdings for the recent winter. I knew that the deductions went up for those doing the short form which means not itemizing allowed amounts, but today I also found out that the government changed the tax rates so more money is kept by the employees each week. I planned on getting two new tires and maybe a replacement recliner with the refund along with paying off one or two of our smallest credit cards. Now, I don't know if there will be enough to do all of that. We could get a used recliner at a yard sale and that may tide us through for a few more years. So, while I don't even play the lottery, getting a nice refund would feel the same as a win. At least we don't have to pay in.