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s/o tax refunds

post #1 of 87
Thread Starter 
We can hardly wait for our tax refund! I have bills to pay off, pay on etc, but then we usually take a small family trip for a weekend. I can't wait! What do you plan on doing with yours.?
post #2 of 87
We normally only get a couple of hundred dollars in a refund because we've adjusted our witholdings to get that money over the course of the year instead of loaning to the gov't tax free all year.

However, our few hundred dollars will be going into savings as we would like to buy a house in the near future and need/ want a good downpayment to do so.
post #3 of 87
We will pay off or come close to paying off our car loan, approximately 1 year early. :
post #4 of 87
Well, if the IRS doesn't seize it like they did last year for my dh's back taxes : (irked at dh, that is, not the irs), then we'll either pay off my school loan and med bills or put it toward our house fund. Most likely the IRS will take it though, so I'm not getting my hopes up!
post #5 of 87
DH will probably insist it be put into savings, then used to buy a new toy. Personally, I'd put some in savings and use the rest to pay off one of our debts.
post #6 of 87
Quote:
Originally Posted by Denvergirlie View Post
We normally only get a couple of hundred dollars in a refund because we've adjusted our witholdings to get that money over the course of the year instead of loaning to the gov't tax free all year.

However, our few hundred dollars will be going into savings as we would like to buy a house in the near future and need/ want a good downpayment to do so.
:
What little we get will go toward prepaying our mortgage, which is our last debt. :
post #7 of 87
8 day trip to Mexico!

I am so excited! :
post #8 of 87
Most of it will go into a Roth IRA. I'm putting some of it aside for furniture/decorations for DS's room. I won't need it for probably another year but I want it bookmarked for that purpose just in case.
post #9 of 87
This should be our last year of getting big refunds, since we'll have finally used up most of the adoption tax credit. We'll probably use our refund to pay down a debt.
post #10 of 87
I'm not sure how much of a refund to expect- I spent 1/2 the year as a student at a relatively low paying job- about $11/hr for 32 hours a week.

Then I graduated and got a much better paying job along with a small hiring bonus (and boy did the govt take a bunch of that!).

So- we'll see how much I end up getting! I'm actually a bit nervous that I'll have to pay... yikes!

My plan is to pay off the cc, take my sweetie out to a nice dinner, buy something frivolous for myself, and then tuck the rest away. Hopefully I'll get enough to cover all that!
post #11 of 87
We're trading in my neon and buying a minivan, all in cash, with our trade-in and refund. I can't wait!
post #12 of 87
Crossing fingers I can pay a good chunk of my car payment. I hope I can get most of it payed off. Although Im second guessing it, with the economy the way its going should I hold off and keep it in savings?
post #13 of 87
We should be getting approximately $4,000 back. This is how we'll be spending it:

-- $600 budgeted for a new dining room suite -- this is a NEED, not a WANT, because three of our six chairs have been broken since June and the fourth is about to go.

-- $200 for an eye exam, 6 month supply of contacts, and new glasses.

-- $1200 to pay off a cc

-- $600 to pay off a cc

-- $450 to pay off a cc

-- $950 (or remaining balance) used to pay down a cc with a balance of $2100, leaving approximately $1150.

This will free up $60 in minimum payments per month that will be added to the third credit card to snowball that debt away. We already have next year's tax return planned out as well.
post #14 of 87
We owed last year and expect to end up near even this year.
post #15 of 87
We're buying a bed and mattress and dumping the rest on our mortgage.
post #16 of 87
Putting our info into the calculator comes up with anything from about 550-1900+. I think because some didn't take our IRA contributions into account. I did adjust our exemptions last year (we were getting 4000+ back, which is insane), but I didn't take the most exemptions because I didn't want to under pay.

Anyway, whatever we end up with is going into savings/investments. DH gets to spend the state return however he wants.
post #17 of 87
Could someone link the calculator please?
post #18 of 87
I can't remember the amount we're supposed to get back. But it'll be going towards paying off our car.
post #19 of 87
Quote:
Originally Posted by Tera_&_Gibson View Post
Could someone link the calculator please?
Cancel that I found it
post #20 of 87
I'll be using mine for my yearly auto, renter's, and life insurance premiums, car registration, car maintenance/repair, a trip to Seattle/Vancouver, BC for a week, and a deposit on a new, cheaper apartment. What is left will be put in savings.
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