WEBVTT 00:00:00.000 --> 00:00:02.220 align:middle line:84% ANDY SERWER: Hey, it's tax season. 00:00:02.220 --> 00:00:03.520 align:middle line:90% Anything different this year? 00:00:03.520 --> 00:00:07.170 align:middle line:84% And how can people get the best returns? 00:00:07.170 --> 00:00:11.780 align:middle line:84% SUZY ORMAN: It's interesting is that taxes are taxes. 00:00:11.780 --> 00:00:15.600 align:middle line:84% And the main thing is I would still tell people if you're 00:00:15.600 --> 00:00:20.790 align:middle line:84% getting a tax refund, something's radically wrong 00:00:20.790 --> 00:00:22.740 align:middle line:84% because you're still, even though interest rates 00:00:22.740 --> 00:00:24.960 align:middle line:84% are so low, you're still allowing 00:00:24.960 --> 00:00:27.120 align:middle line:84% the government to have an interest free loan 00:00:27.120 --> 00:00:29.450 align:middle line:90% on your money for a year. 00:00:29.450 --> 00:00:33.000 align:middle line:84% And if you really look forward to that refund 00:00:33.000 --> 00:00:34.990 align:middle line:84% every single year as like, oh my God. 00:00:34.990 --> 00:00:35.790 align:middle line:90% Look at this. 00:00:35.790 --> 00:00:37.380 align:middle line:90% I have all this money now. 00:00:37.380 --> 00:00:41.400 align:middle line:84% That also says to me that you needed that money 00:00:41.400 --> 00:00:44.580 align:middle line:84% during the year, an extra-- because the average refunds can 00:00:44.580 --> 00:00:47.640 align:middle line:84% be $2,500 a year, an extra $200 a month 00:00:47.640 --> 00:00:52.020 align:middle line:84% that you could have taken and put into your Roth IRA 00:00:52.020 --> 00:00:55.740 align:middle line:84% if you qualified for it income wise, and dollar cost averaged 00:00:55.740 --> 00:00:58.290 align:middle line:84% into the markets, whether it was via slices, 00:00:58.290 --> 00:01:01.770 align:middle line:84% or an index fund, or whatever, would have returned far 00:01:01.770 --> 00:01:03.960 align:middle line:84% better for you than money to just 00:01:03.960 --> 00:01:05.730 align:middle line:90% sit there with the government. 00:01:05.730 --> 00:01:08.770 align:middle line:84% Other than that, I don't have a lot to say about taxes. 00:01:08.770 --> 00:01:12.420 align:middle line:84% However, except this for this year. 00:01:12.420 --> 00:01:15.480 align:middle line:84% Given that the stimulus checks will 00:01:15.480 --> 00:01:21.000 align:middle line:84% be based on either your 2019 or 2020 income tax, 00:01:21.000 --> 00:01:23.850 align:middle line:84% and there will be an income limitation, 00:01:23.850 --> 00:01:27.560 align:middle line:84% you're going to have to decide should you file your 220? 00:01:27.560 --> 00:01:28.360 align:middle line:90% Should you not? 00:01:28.360 --> 00:01:30.570 align:middle line:84% Should you do it off of your 219? 00:01:30.570 --> 00:01:33.780 align:middle line:84% Or if you made less this year than last year, 00:01:33.780 --> 00:01:38.070 align:middle line:84% then file your taxes right away because you would qualify 00:01:38.070 --> 00:01:40.200 align:middle line:90% then possibly for the stimulus. 00:01:40.200 --> 00:01:41.880 align:middle line:84% And just make sure that the government 00:01:41.880 --> 00:01:46.920 align:middle line:84% has your information via your tax returns and everything. 00:01:46.920 --> 00:01:48.720 align:middle line:84% Because you're going to be the first people 00:01:48.720 --> 00:01:53.460 align:middle line:84% that they send the money to directly into your account. 00:01:53.460 --> 00:01:56.220 align:middle line:84% And it's those people that qualify for the stimulus 00:01:56.220 --> 00:01:59.220 align:middle line:84% but don't file a tax return for whatever reason, 00:01:59.220 --> 00:02:02.550 align:middle line:84% that they don't have your direct deposit information, 00:02:02.550 --> 00:02:04.470 align:middle line:84% you might not get your stimulus even though you 00:02:04.470 --> 00:02:06.330 align:middle line:90% need it for months from now. 00:02:06.330 --> 00:02:09.479 align:middle line:84% Other than that, there's not a lot for me to say about taxes. 00:02:09.479 --> 00:02:10.620 align:middle line:90% Taxes are taxes. 00:02:10.620 --> 00:02:12.450 align:middle line:84% They're always going to be taxes. 00:02:12.450 --> 00:02:14.960 align:middle line:90% Just pay them, people.