Week 8 Discussion 3 FP101

Week 8 Discussion 3 FP101 - due to inflation. If our money...

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I like to minimize how much the IRS will withhold from me, so I can put some in a savings account every paycheck. I do not want to pay too much tax at the end of the year, so I only have very little money withheld from my paychecks. Savings accounts gain a percentage of your money every period, but the IRS does not give you any more money back than what they took from you. Prices of gas, food, housing, and other necessities will rise in the years to come,
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Unformatted text preview: due to inflation. If our money stays frozen until it is time to pay taxes, our money will lose some of its value. Although, if we keep that money in a savings account; it will grow, and have more value than it did before. That is why I like to minimize the amount that is withheld from my paychecks....
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This note was uploaded on 03/17/2012 for the course ALL all taught by Professor All during the Spring '10 term at University of Phoenix.

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