|
| Had the year end conversation with our accountant, I'm sure this won't affect most of you, nor me, but in passing, he mentioned two things. They have very little experience as to how the new rules will affect people's taxes, there were a lot of changes. And, previous years, the average tax refund was some $3500, they dramatically reduced the withholding rates last year so they anticipate that average refund will be more like $500 this year.
You can see where this is going, many lower income wage earners use withholding as a sort of forced savings, and then use the refund to finance a bigger ticket purchase.
There might be some disappointed people and disappointed merchants this spring.
And yes, I know it's not market related. So don't bother to complain.
I was just trying to keep the conversation going. | |
|
Just a little heads up on taxes.
