November 2008 Weddings
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Big plans for your tax refund?

I can't believe it is almost that time again.....I know a few people that have already, more or less, spent their tax refund money.  I guess I just have never been one to spend money before it is actually in my hands but I am curious.....do you have plans for your refund (if you are getting one of course). 

Re: Big plans for your tax refund?

  • new electrical for our house...or maybe a fence...we've got lots of needs!
    Lilypie Third Birthday tickers Lilypie First Birthday tickers
    TTC #1 13 cycles, CP 6/09, TTC #2 1 cycle
    CDing, EP'd for 13 months for #1, BFing for #2
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  • my plan is to pay uncle sam lots of money i don't have! DH says he's filing separately because of this, but he never gets much anyway, deal with it bub
  • I think we'll put it in our travel fund. Our depending how close we are to moving, use it for moving expenses or buying a new (old) car.
  • I never plan on spending tax money until I get. Only once have I ever owed, I usually do get money back, but its always been like under $800.

    It will be interesting to see how this year goes. Now that we are home owners and DH has been a 1099 Contract employee.

    I am hoping that we at least break even.

    Any money we do get will most likely go straight to the savings account...maybe go out for a nice dinner...but thats as far as any spending will go.

  • Meh. Probably will just put it into savings on the chance we end up buying a place this year. Who knows! Definitely not a vacation since DH has no freakin' days (since he hasn't accumulated any yet from his new job). So, in short, nothing too exciting.
  • Put it in savings.  I'll be off work (no pay) with the bambino at the end of the year.  And we'll have 2 weddings to go to while I'm off.
    imageLilypie Second Birthday tickers
  • We'll probably put some towards a cc and the rest in savings.  Nothing exciting.
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  • possibly getting a drum kit (!) oh and paying back the in-laws ( they lent us a bunch of $$$)
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  • We will put a couple of thousand into savings for when bebe gets here, possibly pay off a credit card or two and DH really wants to put some into the house (painting).  We usually get pretty good refunds due to the house and DH takes a lot out of his paycheck, part of his "savings" fund for not getting commission in the winter.  He takes from himself all year, then gets it back in the winter when he really needs it.  I used to think it was crazy, now I totally get the madness.

  • Climbing out of debt,  savings for a house, and buying a Wii and Wii fit. Ours is usually pretty good due to the huge amount of interest we pay in student loans. We'll see how it goes.
  • I never feel certain about how much money we'll get.  I always have way too much taken out because I had to pay 2K one year and it SUCKED. 

    J was unemployed for half of the year and a 1099'er for the other half.  Scarlett was born.  In the latter half of the year I changed my deductions from 0 to 2.  I imagine we'll get a chunk, but you never know.  I'm also expecting a raise and bonus in February.  May be minimal.  We're also trying to sell my dad's empty lot, his van and his bike (anyone want an AWESOME upgraded custom Harley?).  Might get some funds from that, too, that my sisters and I are splitting.

    I have vague plans about putting it all of it toward this house-purchase process. I'd also like to pay off our credit cards, but Suze Orman says not to.  Jason needs a car.  That might wait until we get our house credit.

    TOO many variables.

  • Dh always owes, so last year I filed seperatly. I am sure I will be filing seperatly again, and usually only get about $300-500. I think I may take it all and go shopping.

    I know, I know, I am so selfish! But, we have been on a major debt diet with trying to buy a house. I need a reward!

  • We won't get very much back this year.  DH's deployment did not take him to many official combat zones, so he didn't get tax free pay.  I also did not pay as much interest on my student loans since I've paid off so much of the principal.  Oh well, we always just put any refund we get into savings anyway.
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  • Property taxes. Blech.
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  • The plan is to go to Vegas for 4 days with friends in July with our tax refund.

     

    First I have to cut this pesky umbilical cord that is tethered firmly to my son, because I don't see myself leaving him for that long so soon in his life.  We'll see though.  DH really wants to do this.  

    I am hoping that we buy a new house and can't afford Vegas anymore.  :) 

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  • Since we never really know how much we're gonna get, we don't plan anything until our tax lady tells us how much we're getting.  I think we filed separately last year because M's is complicated.  We both live in MA, I work in MA, he works in ME (Maine), Maine's tax rate is higher than MA's.  He pays both though, and has to file for both states.  We both have extra taken out of our paychecks to try to cover ourselves (we file married withholding more), last year, I can't remember which one of us, I think it was him, got a whole $1.00 check back from the state of MA, we kept the check, didn't bother cashing it because we thought it was funny, they spent more on cutting the check than what it was written out for.  I think in total though we got close to 2 g's back.

    Regardless, whatever we get back will probably go into our saving for a house fund.

  • imagecode_8:
    I will oweCrying

    Me too....for the first time EVER Sad . I am so sad about this. I have never had to pay until this year. Someone tell me what exactly the benefits of marriage were again......

  • We always get money from the federal but then end up having to pay the states and local.  Whatever money we have left over will probably go into savings.
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  • imageariajean:

    . I'd also like to pay off our credit cards, but Suze Orman says not to.  Jason needs a car.  That might wait until we get our house credit.

     

    I heart Suze Orman!

    We'll prob use it towards $ for our cruise-booze $... or pay of cc's or for our summer trip w the skids...

  • We're gonna put it into our house. New counter top, floors, and paint.
  • I really have no idea how much (if any) we'll get this year.  We got a HUGE refund last year, primarily because I worked for only a few months -- got most of my fed taxes back, AND our income was low enough to qualify for all the SL / mtg interest deductions.  Now that we've both worked all year, who knows how much Uncle Sam will let us get back.

    I just got my W2 yesterday...waiting on D's, then I can start geeking around with Turbo Tax again.  Yay!

    Lilypie Second Birthday tickersimage
  • I have no clue what we'll be getting back if any. Every other year we have gotten large returns, but this is my first tax season with a full year of a good paycheck. On the flip side, we do have all the business expenses to write off, so we should get something.

    Either way, the money is going into our savings. We will use some for more business expenses I'm sure. The rest will stay in our savings for when we eventually decide to have a baby.

  • Not sure. . . the last 2 years I've owed a couple hundred, but this year I changed my withholding allowances, so I should actually get a refund. Not sure how we're filing, either. Neither of us has gotten our W2s yet, so we can't get started. I'm hoping for at least a small refund, which will help pad our savings.
  • imageCrunchyMama:
    Property taxes. Blech.

    Crunchy, you dont have those lumped in with your monthly mortgage? We set up an escrow account so that way we dont even have to be bothered with paying the property taxes or our house ins...it all is in our monthly payment and gets handled magically.

  • Hahaha - what refund?  DH and I screwed up our withholding in 2009.  So we will be paying in a chunk along with a penalty.  The best part - we're both CPAs.  Ick.  I don't handle payroll (obviously) but it's still super embarrassing.  Embarrassed 
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