Plans for your tax returns?

cabaray
cabaray Posts: 971 Member
edited October 6 in Chit-Chat
For those of us not getting bent over and screwed by Uncle Sam, what do you plan on doing with your tax refund?

We are going to buy some new furniture and get as many home improvements done as possible.
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Replies

  • scs143
    scs143 Posts: 2,190 Member
    A new kitchen and I cannot wait!
  • Salamanda425
    Salamanda425 Posts: 358
    Swimming pool!!!! Looking forward to a fantastic summer!
  • BrettPGH
    BrettPGH Posts: 4,716 Member
    Pay off the last of my debt. I can't wait.
  • amerr
    amerr Posts: 190
    Max out our IRA contributions.
  • _Timmeh_
    _Timmeh_ Posts: 2,096 Member
    No clue what a tax return is :laugh:
  • CaptainGordo
    CaptainGordo Posts: 4,437 Member
    For those of us not getting bent over and screwed by Uncle Sam, what do you plan on doing with your tax refund?
    I would consider having given Uncle Sam an interest-free loan all year "getting bent over and screwed" too.
  • Saruman_w
    Saruman_w Posts: 1,531 Member
    Put it toward savings or something
  • ajlarz
    ajlarz Posts: 155 Member
    Going to Mexico!
  • LuckyLeprechaun
    LuckyLeprechaun Posts: 6,296 Member
    For those of us not getting bent over and screwed by Uncle Sam, what do you plan on doing with your tax refund?
    I would consider having given Uncle Sam an interest-free loan all year "getting bent over and screwed" too.

    you don't have to do it that way. Change your deductions...
  • AnarchoGen
    AnarchoGen Posts: 400 Member
    going straight to the savings, for emergencies only!!
  • Ocarina
    Ocarina Posts: 1,550 Member
    Going into savings. Rebuilding my savings account basically.
  • CaptainGordo
    CaptainGordo Posts: 4,437 Member
    For those of us not getting bent over and screwed by Uncle Sam, what do you plan on doing with your tax refund?
    I would consider having given Uncle Sam an interest-free loan all year "getting bent over and screwed" too.
    you don't have to do it that way. Change your deductions...
    Understood. It always cracks me up to see celebration about a big refund. one could adjust his deductions, and stow the money away in an interest-bearing account and come out with even more dough.

    Regardless, the fact that only 53% of us pay taxes, and those that make more pay a higher percentage, is what really grinds my gears.
  • cabaray
    cabaray Posts: 971 Member
    Yes, I know I could put the extra money in a savings account and earn interest (a very small amount); however, it is easy to dip into a savings account and I know there are times when I would. Having a tax refund is a handy way of having a good chunk of money for bigger items once a year for those of us with savings issues.
  • solpwr
    solpwr Posts: 1,039 Member
    A large amount refunded or due equals bad planning.
  • Hayesgang
    Hayesgang Posts: 624
    Reinvesting into my husband's new business, paying the last of our debt and savings.

    Damn that sounds way to grown up :blushing:
  • bestrodeo
    bestrodeo Posts: 139 Member
    Moving closer to town, buying another bowflex, paying off my truck and filling my closest with clothes that actually fit.. :-)
  • loved1
    loved1 Posts: 206 Member
    For those of us not getting bent over and screwed by Uncle Sam, what do you plan on doing with your tax refund?
    I would consider having given Uncle Sam an interest-free loan all year "getting bent over and screwed" too.
    you don't have to do it that way. Change your deductions...
    Understood. It always cracks me up to see celebration about a big refund. one could adjust his deductions, and stow the money away in an interest-bearing account and come out with even more dough.

    Regardless, the fact that only 53% of us pay taxes, and those that make more pay a higher percentage, is what really grinds my gears.

    Would you please list the accounts/banks that paid any type of interest in 2011? Usually, the interest free loan thing makes sense, but in an environment where interest rates are close to zero it's not a big deal.
  • christinad95
    christinad95 Posts: 201 Member
    I pay my rent for the year with ours. Makes living alot more comfortable.
  • SaddyPants
    SaddyPants Posts: 152 Member
    Buying baby stuff! :D I can't wait!
  • Juliebean_1027
    Juliebean_1027 Posts: 713 Member
    I pay my rent for the year with ours. Makes living alot more comfortable.

    This is really smart!
  • monroe61
    monroe61 Posts: 620 Member
    hmm....a little for the "house" account
    another tattoo for me and the husband (my son's name)
    maybe a swingset/jungle gym type thing for the kids (and us:happy: )
    new pans
    and most certainly new clothes for my hubby (he has lost a grand total of 75lbs) so proud of him :heart:
  • rmsrws
    rmsrws Posts: 639 Member
    My tax refund is going to be used to pay of the rest of my younger brothers funeral and final arrangements!! .....Lucky Me~
  • Juliebean_1027
    Juliebean_1027 Posts: 713 Member
    I'm planning on paying off a credit card and if there's anything left from that I'll be putting it into savings. I have a feeling my water heater or furnace are going to crap out soon and I'd like to be as prepared as possible for when that time comes. Oh, the joys of being a homeowner...
  • philOHIO
    philOHIO Posts: 520 Member
    Pay off the last of my debt. I can't wait.

    ^^^
    should be a LIKE button

    probably saving it for an AC replacement
  • 0PhAtDaDdY
    0PhAtDaDdY Posts: 569 Member
    A large amount refunded or due equals bad planning.

    Not so true, I own an Income Tax Office, Client can work and earn about 10k have a few babies and pay ZERO in to the Federal Government and get about a $9000.00 refund.. I see it hundreds of time every year...So did they badly plan?
  • bmxpop
    bmxpop Posts: 353 Member
    I have to hurry and get my federal return done, so I can use my rebate to pay my state and local taxes on time!! :mad:
  • CaptainGordo
    CaptainGordo Posts: 4,437 Member
    Would you please list the accounts/banks that paid any type of interest in 2011? Usually, the interest free loan thing makes sense, but in an environment where interest rates are close to zero it's not a big deal.
    True enough.

    I would still prefer to have the money at hand all year than in Uncle Sam's coffers.
  • virgo1978
    virgo1978 Posts: 73 Member
    I usually break even. If there's anything extra, I'll put it into savings.
  • likeaphoenix28
    likeaphoenix28 Posts: 176
    Using it to get an apartment of my own.
  • Ashley_Panda
    Ashley_Panda Posts: 1,404 Member
    $500 is going for my husbands certifications so he can improve his already stellar resume. Lol The rest is going into savings along with our escrow refund and then it's savings for home improvements and possibly a baby free vacation.
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