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Old 01-24-2013, 11:22 AM   #16 (permalink)
fullmetal
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Join Date: Feb 2009
Posts: 7,505
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Quote:
Originally Posted by Orangejello727 View Post
How in the world do you get that much back? IM pretty envious. I have to throw a bunk load of cash into my RRSP just so that I can come in paying around that much into taxes!!
You have a larger percentage withheld from you paycheck (free loan to the government) to later use to pay your income taxes.

Some taxes you can estimate, some depends on actions you take with your investments. If it turns out your had more withheld than you owe, then you get the difference back.

Since my wife changed jobs and I was unsure how I would handle some investments I had too much withheld. Whatever I get back goes straight into a tax-free Roth IRA investment plan.
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