eye, remi spencer and ethan berman. back in the days before sexting the only way to accidentally send your boss naked pictures of yourself was to clip them to your w-4. oh how times have changed. a man accidentally texted a photo of himself in the buff to his hr manager of a company that just offered him a job. and then he did it again two days later. the hr manager contacted the police and then only realized the job applicant was behind the sext when he called her for the follow-up. cops figured out it wasment for another person. as for the new job, the police chief said, quote, there was a conditional offer of employment made to this applicant.
enough, over and above that, there s a change in the capital gains rate from 15% to 20% for the same people, but that is on top of the obamacare surcharge of 3.8%. withholding is going to be critical this year and you re going to have to make a lot of adjustments depending how you expect the year to play out. jamie: that s interesting, maybe you can learn something from last year, how much tax you owed based on your coincome. and when you get that w-4, maybe worth filing a new one, how much exemptions can you put down? it depends how much you actually owe the government or whether you can t, in the old days, people use today just put extraordinary numbers of exemptions down so they would get the money and give it to the irs late and the irs will penalize you for it for doing that. you re really supposed to have your exemptions very much in line with what you re actually able to take. under the new regulations, regarding, let s say like tuition credit, child care
off debt and 42% said they would put some of the refund in their savings account and 13% say they are going to spend their refund on a big ticket item. almost 12% say they are using it on a vacation. but before you go out on a spending spree with your newfound cash, a few reasons why and how you should get a much smaller check next year. first, why don t you want a big refund? because it means you re paying too much in taxes. taxes that you don t owe with every single paycheck. so think about what you can do with that money every week. if you re paying too much in taxes, your, in effect, handsing over money that is not owed and you can t use it for the things you need. not only once a year like paying off debt and saving two items where interest earned or saved should be yours, not the irs s. how do you change how much of a refund you get without a huge bill? change your withholding number on your w-4 and find out what the number should be take time to use the withholding
everything but the little one. attack the little one with a vengeance. when it s gone, take the money used to pay there and pay it on number 2. when those two are gone, the snow ball rolls over again and attack the third one and so on. all right and number five resolution, invest in growth stock mutual funds. shhhh, don t tell anyone. the dow jones industrial average was up 11% over january. in the one year period of time. while the whole world is freaking out about the economy, you could have made some money investing last year. very smart. don t wait to do your taxes either. absolutely. go ahead and get them done. if you re getting a refund, stop it! you need to change your w-4. don t have a savings account with the irs that has zero interest so you get money back. santa claus doesn t live in washington. good job, dave ramsey. thanks for joining us and with some great advice and hopefully we got people on the right track. thanks. meanwhile, steve, what s coming up next? we
i thought after tax day we wouldn t be talking about returns anymore, but they re done hopefully. maybe you filed for an extension. maybe you re getting a big refund and excited about it. doug flynn joins me now. he said if you re excited about getting a tax refund, you are doing something very, very wrong. he s here. we re also joined by ryan mackey, president of optimum capital management. these two are going to tell you what you do if you ve got a refund coming to you. doug, you feel that if you re getting a refund or you owe more than $1,000, you re doing something wrong. you re not withholding the right amount from your paycheck. yes, a lot of people don t realize that the w-4 form you signed when you first took your job, it doesn t have to be the one that you keep on file for the rest of your working career. you can change that from time to time. as your life situations change, you get married, you get divorced, you have children, your tax withholding is going to