Plans for your tax returns?

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  • monroe61
    monroe61 Posts: 620 Member
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    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
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    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
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    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
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    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
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    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
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    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
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    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
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    I usually break even. If there's anything extra, I'll put it into savings.
  • likeaphoenix28
    likeaphoenix28 Posts: 176
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    Using it to get an apartment of my own.
  • Ashley_Panda
    Ashley_Panda Posts: 1,404 Member
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    $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.
  • cabaray
    cabaray Posts: 971 Member
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    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.
    One year, my husband was laid off unexpectedly. Although federal taxes were taken out of his unemployment, it wasn't enough and we ended up owing money. I would rather them hold on to some extra than have to round up money to pay extra.
  • Hayesgang
    Hayesgang Posts: 624
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    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?



    ^^This^^
    We have alot of "write-offs" kids, business expenses, interest on our home. We have very little taken out of both our checks and we still get a great refund every year.
  • tunktunk5583
    tunktunk5583 Posts: 76 Member
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    paying off bathroom renovations!
  • JenMarie826
    JenMarie826 Posts: 143
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    I will be putting most of it into my savings account incase my jeep ever needs a repair! But I plan on having a little fun with a chunk of it. :D
  • teagin2002
    teagin2002 Posts: 1,901 Member
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    Savings, all needs are met (thankfully) :bigsmile:
  • alexis831
    alexis831 Posts: 469 Member
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    We will get ourselves closer to being DEBT FREE! 2012 will be our debt free year! :) 80k down 19k to go!
  • NotGoddess
    NotGoddess Posts: 1,198 Member
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    We will get ourselves closer to being DEBT FREE! 2012 will be our debt free year! :) 80k down 19k to go!
    Make sure you scream it from the rooftops when you reach it. That's fantastic!

    I'll be re-building our emergency fund, and catching up bills so in the future I can pay them on-time or early instead of at the end of the month.
  • alexis831
    alexis831 Posts: 469 Member
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    We will get ourselves closer to being DEBT FREE! 2012 will be our debt free year! :) 80k down 19k to go!
    Make sure you scream it from the rooftops when you reach it. That's fantastic!

    I'll be re-building our emergency fund, and catching up bills so in the future I can pay them on-time or early instead of at the end of the month.

    Dave Ramsey fan huh? :)
  • voluptas63
    voluptas63 Posts: 602 Member
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    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.

    I just fell in love.
  • solpwr
    solpwr Posts: 1,039 Member
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    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?

    You're right. There are a few instances where individuals pay nothing in taxes to the Fed gov't for an entire year, yet still get a significant "refund" amount. (If you haven't paid in is it still a refund?) In those instances there is nothing anyone can do to plan better. That scenario is not very likely.

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