Some financial advisors recommend you increase the amount of federal income taxes withheld from your paycheque each month so that you will get a larger refund come April. That is, you take home less today but get a bigger lump sum when you get your refund. Based on your knowledge of the time value of money, what do you think of this idea?
If you guys can talk about what would be the implications of withholding taxes from income and CRA penalties, that would really help me out! Help is always much appreciated!
If you guys can talk about what would be the implications of withholding taxes from income and CRA penalties, that would really help me out! Help is always much appreciated!
