4/15/2005

Tips for the Last-Minute Tax Filers

Why are people so predictable? It’s the same thing every year. Weather it is for Christmas or taxes, people will always put wait tell the last minute. Is our time so precious that we can’t spare the time to get our taxes done? If we look at it from an economic point of view, we would file early, get our return, and then invest it. If you are one of these people this webpage, Tips for the last-minute Tax filers could be your saving grace.

2 comments:

trudy said...

If we assume that people are rational and act in their best interests filing taxes early must not be very valued. The opportunity cost for waiting until the last minute must not be very costly. I sometimes do my best work under presure and at the last minute. Man that was one of my best comments.

Dr. Tufte said...

Trudy - are you checking to see if I read these?

Would you believe there is an economic theory of procrastination? I don't know much about it, but it is similar to what Trudy outlined.

Also, the psychologists have been exploring the fact that people are overly optimistic that their future time will not be filled up in the same way that their current time is. In some sense, we all think we'll be less busy later, and we're not.