*tax refund* what are you going to spend it on?

We use our refund to go towards our kids tuition. Both are in private schools.
 
Using the refund for either for car show tickets or to help offset the cost of going to the F1 race in Austin later this year.
 
im using it to get a ford econoline van. im planning on going mobile this year :autowash:
 
smack said:
Right on buddy. I'm sure I will. I need to replace my HP laptop that going on 6 years old and has been to Iraq twice!

With my iPads I'm sure I will love a new iMac.
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Mac ###!
 
Tax refund...?...why would anybody give the government their own money to use interest free for an entire year?

I'd adjust your W-4 form so that you come out even.

I have a work mate who brags about his huge tax refund and I just smile at him..


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silverfox said:
Tax refund...?...why would anybody give the government their own money to use interest free for an entire year?

I'd adjust your W-4 form so that you come out even.

I have a work mate who brags about his huge tax refund and I just smile at him..


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I agree. I usualy get little or nothing back, but this year I had a income property destroyed by a flood and insurance didn't cover the entire bill. Redid the entire apartment and everything is brand new, so I am expecting a nice return due to this deduction.
 
I generally get a rather large tax refund because I have more taken out of my pension and annuity than normal. Most people would say this is not a wise thing to do and they are usually correct, however, it always depends on the situation. I have been retired since 1995 and since then this strategy has helped me avoid some rather large and unforeseen tax bills, even if in some years they have use of my money interest free. This is due to my buying and selling of funds and stocks depending on where the market is and my perception of where it is going. I am not a day trader exactly but I watch markets closely.

The capital gains are basically treated as ordinary income and are, of course, not taxed through withholding. This is also true of dividends that are automatically reinvested and all the profits generated from outright sales. There are times when your cost basis shows a loss at time of sale but you generally try to avoid that of course. If you sell at a bigger gain than you anticipated it could have an impact on not only on your adjusted gross income but it could also boost you in different tax brackets that you were not prepared for. Such boosts in AGI also have an impact on your medicare payments going higher (again, this is my situation and I realize most of you are not even thinking medicare yet).

So for a variety of reasons, I want to have the flexibility to buy and sell securities and invest in or get out of positions without being faced with a bigger tax bill than I can handle, or at least want to handle. I don't mind having a little more taken out each month by the government because I can budget that much better than a lump payment I am not expecting.

The point is that how much you have withheld or taken out on quarterly estimated tax payments is a tricky process depending on your personal situation. One strategy does not fit all.
 
Pay off my credit card and then maybe some car parts.

Id like to get some rupes pads and some towels but I'll see what happens.


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Easy Peasy. Done. Waiting for the direct deposit........
 
Where do most get their taxes done?

This year was the first year i'm a dependent. I did 2013 taxes myself using TurboTax and for the first time ever i'm getting a comma in my refund :)
 
Through deferred savings I manage to eke out a small refund from the Feds which my tax guy has sent directly to the State.
I get zip.
 
GenesisCoupe said:
Where do most get their taxes done?

This year was the first year i'm a dependent. I did 2013 taxes myself using TurboTax and for the first time ever i'm getting a comma in my refund :)
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I do mine myself.

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The U.S. Government is the last entity I want owing me money! At the end of the year if we are "even Steven" I'm happy! Fingers crossed...........
 
Had no issues with H & R BLOCK. Their fee was $53. Filed feb 1st. DD on the 10th. :xyxthumbs: Wrote some checks out tonight. Car insurance/rent etc.... Where the *ell is the refund? :laughing:
 
Ended up having to pay $750 this year.
I suppose it's better to owe them than the other way around.
 
Just spend 170 in the autogeek store..to be quite honest all I needed was trim sealant but I kept adding stuff. Better to have and not need than to need and not have..
 
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