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Tax refunds???

post #1 of 22
Thread Starter 
What do you typically do with your tax refund? When I was single, part of my refund always went toward getting new glasses. In those days, I needed a new pair, every year. I would also use some of it, to take the kids to the County Fair.

I did Bill's and my taxes, this morning. My refund isn't very big but, I have no deductions. I wound up owing the state $58.

Because of mortgage interest, IRA and 401(k) contributions, Bill gets back a substantial amount. We are going to buy a new refrigerator, with part of his refund. The one that we have now, came with the house and it is old, ugly and Harvest Gold. I found a nice, bright white one, with deep drawers and shelves, at a giveaway price. We bought a new stove, last year and this will make the kitchen look nicer.

Next year, maybe I can talk Bill into new carpet, for the living room.
post #2 of 22
Usually I pay bills with it, this year we are saving up to fix up the house - my company is moving me to another state, so we need to fix up the current house for selling. The thought of showing this house with 3 black cats and 11 birds - I start hyper ventalating!
post #3 of 22
Ugh. Mine always goes toward keeping me alive in the summer when I am not being paid.
post #4 of 22
For the last few years, I've owed the government money because I have two jobs. This year, since I got married, my husband and I are going to get a refund. Hooray!! We will save some of it and use some toward a trip to Italy that we are taking in May! AFter that, we want to have kids, so I'm sure that's where all the money will go from then on!
post #5 of 22
Hopefully we will get a good amount this year. We plan to get a new computer. Normally we use it towards bills.
post #6 of 22
We usually end up owing, and now there is a new change that Oregon is trying to pass through that in a nutshell will tax small businesses on their gross income- not the net! It will also tax cigarettes, liquor, and SUV owners!! GRRRR! It will raise our personal income tax to about $800.00 per year! We voted no on this. If it passes, there is no way we can continue to have our business.
post #7 of 22
Some years we owe, and other years we get something back. When that's the case, we usually spend it on the house. In 2001, we got a lot back, and put it in the bank. Unfortunately, our washer, dryer, dishwasher and range all died within a 3-month period, and the return went to covering 90% of the replacement costs. This year we should get something back, but we have to replace our 22-year-old heater, so the money is already earmarked for that.
post #8 of 22
What the heck! I'm takling the kiddos to DISNEYLAND!!!
post #9 of 22
In years past we have just blown it on fun stuff that we can't usually get, or upgraded computers. Not the wisest thing in the world, but it's a nice break from living paycheck to paycheck. This year, I know we'll do one or two computer upgrades, and probably pay off a couple bills (I hope). Probably blow the rest on something frivolous.
post #10 of 22
This year..... It will depend on how much I get back on both federal and state taxes. I think im not for sure that I may be getting a substantial amount back for state but the federal taxes don't like me because last year I didnt get anything back and I ended up owing from 2001.
post #11 of 22
Thread Starter 
I must admit that I like TurboTax. It came bundled, with my computer and this is the third year, that I've used it for my taxes and the second year, for Bill's. E-filing and direct deposit of the refunds is nice, too. I always hated waiting for that refund check. Now, it shows up, in our bank accounts, within 10-16 days.
post #12 of 22
I wish we had turbo tax, that thing is only good for the IRS in the states, and we do not pay federal taxes, just to the P.R. government... I wish we even had refunds!!!!! Here the Departamento de Hacienda (The agency of the Puerto Rico gov. who takes care of Internal Revenue) are so darn cheap that they would never send it back to you. Unless you demand it and start jumping around and threatening to go to court, (and sometimes not even that) then and only then they may do it.

They also sometimes go to charge some old debt you had that you paid eons ago and even when we sent them the cancelled checks and photocopies of the forms (with how they are you have to keep records of all of it) they kept sending the letters charging the debt. We simply ignored them... if they try to go farther then it will never stand in court.

We once accidentaly sent the form on april 16 and then they sent a letter talking of all the felonies that paying taxes late is and that therefore we have to pay a fine of....(drumbeat, please).... US $0.64. We did a check for 64 cents... I would have given a million bucks just to see the bank cashier cashing the check .

Well, I am getting off my soapbox... just felt the need to say how cheap are they here.
post #13 of 22
Every year, I plan something fun with the money I'm due back from Uncle Sam. And every year, without fail, either the house, the computer or the car eats every penny of it with some sort of dire emergency need.

This year, I am deliberately NOT planning what to do with it. Maybe that will break the cycle!
post #14 of 22
Haha! What a great idea! The same thing happens to me, Seems there is always something- an emergency- or the car, maybe you're right- I shouldnt plan on Disneyland and then be dissapointed when an emergency happens and we can't go!
post #15 of 22
I'm not sure how much I'll be getting back this year, but it'll be a fairly good chunk of cash...hopefully a grand! Unfortunately, I won't get to spend it on fun stuff this year! I've got some debt from when I moved to Lincoln (deposits & washer/dryer), so all of that goes towards those bills. Usually I buy myself a new pair of glasses every year with some of the money, but since my glasses broke 2 weeks ago I had to buy new ones early. Boy did that hurt the budget this month! OUCH! Thankfully, I'll be going back home to Fairbury this coming weekend so Dad can figure up my taxes for me (isn't that sweet of him?). I might keep a little bit back just for fun...maybe a new pair of jeans or shoes? Hmmm...decisions, decisions, decisions! LOL!
post #16 of 22
I use to spend it on school when I was single. Last year, was the first year we shared it...and we paid off an old vehicle and a credit card. This year, we already used it this weekend when we took a trip to Dallas, Texas for Valentine's Day (early celebrating) and the rest of it we are putting into savings for my new car next year, since my lease is up on my beetle
post #17 of 22
I'm spending part of the money on a new mattress...the old one is about 20 yrs old. I think its time. Another chunk is going toward a new screen door for the front of the house. The bulk of it pays my car insurance. NJ is one of the highest in the nation for car insurance. Would you believe I'm paying $2600 for a 3 yr old car with 1 accident that I wasn't charged for!
post #18 of 22
We pay off the credit cards with our tax refund. The interest rates are killer!

I would love to get a new mattress! Ours has a spring that stabs our feet. I keep forgetting to turn the mattress and just fall into it when I get home.

I spend 4 hours, 8:30-12:30 as a vollunteer in the library at my son's school. They have no other librairian.

I also spend from 4-6pm at the school running "The Ark" my own little pet care training class. We have guinea pigs, rabbits, mice, rats, hamsters, leopard geckos, anoles, iguannas, corn snakes, red tailed boas, ball pythons, hermit crabs, tarantula, millipede, box turtles, red eared sliders, finches and parakeets. The time in between we get food, shavings, crickets, grubs, seed, water bottles, pick up donations, and check all the animals for signs of illeness.

Whoa, got a little off track.. Mattress sounds good to me.
post #19 of 22
Thread Starter 
Bill is buying the new refrigerator, out of his and paying down his credit card. I am going to splurge and get a decent set of kitchen knives, out of mine. We have all of these old, mismatched knives and, althoug Bill sharpens them, they won't hold an edge, any longer and will barely cut a bagel. I am also going to buy the faucet, that I want, for the kitchen sink. We (I) need a spray head and I'm going to buy it.

Even with the knives and faucet, I should still have enough left over, for a new pair of black high-heeled pumps. My old ones are 14 years old and I think that I deserve a new pair.
post #20 of 22
Quote:
Originally posted by katl8e
Bill is buying the new refrigerator, out of his and paying down his credit card. I am going to splurge and get a decent set of kitchen knives, out of mine. We have all of these old, mismatched knives and, althoug Bill sharpens them, they won't hold an edge, any longer and will barely cut a bagel. I am also going to buy the faucet, that I want, for the kitchen sink. We (I) need a spray head and I'm going to buy it.

Even with the knives and faucet, I should still have enough left over, for a new pair of black high-heeled pumps. My old ones are 14 years old and I think that I deserve a new pair.

You bet you deserve a new pair!! Wow! That is a long time! I just bought a new pair of boots! I have had my old pair since I was 16 (6 years!) Now, I just have to break them in...hehe...
post #21 of 22
Since I now have a mortgage my returns have been wonderful. This year I'll by a new stove & fridge the rest will go toward reducing the mortgage.
post #22 of 22
ours usually go to bills but this year the tax money is going to the wedding fund!!
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