Tax returns. What are you spending it on? (1 Viewer)

[Garrett Lundy]

Tis the season for tax returns. Assuming that you are getting a tax return (yes, I know I was giving Uncle Sam an intrest-free loan all year) and not paying-out, what are you planning on spending your returns on?

My plan ($850):

*Renew drivers liscence: $130
*already spoken-for by GF: $100
*Vance & Hines 'straight shot' exhaust for motorcycle: $350 (including carburator re-jetting kit)

Those are my plans so far, I'll probably take the family out for dinner a few times too, maybe get a new MC helmet or jacket... I dunno (last year's refund was spent on an SVS, best $600 in my HT).

 

[Moe Maishlish]

Paying back (part) of the loan I'll be taking to contribute to my RRSP (Registered Retirement Savings Plan). In Canada, any RRSP contributions made in a year a54 considered tax-deductible, and help to lower one's taxable income (hence maximizing one's return). I'll be taking out a proportionate loan to contribute to the RRSP to maximize the return, and once I get the return back I'll be using it to pay off the line.

Exciting! I know...

Moe.

 

[Jim_F]

Isn't the return the thing that you file?

Anyway, my tax refund will be combined with whatever I don't lose in Vegas and used to buy a nice Twilight Zone pinball machine.

 

[Brandon_T]

Well we had our first baby this year, and are expecting a decent return, at least it will be big to us, and we will be paying of the remainder of our car, freeing up and extra $350 a month that we will put right towards my truck, and that will be paid of this year as well, and it should give us over $550 a month. We don't have any credit card bills so we will then apply that amount each month to our mortgage. Not very exciting, but it really is giving us a chance to get ahead.

 

[Patrick Sun]

My Roth IRA.

 

[LanieParker]

A bed. My husband and I haven't had a bed in...oh about 6 years. He found a nice bed frame at Costco (lucky that he works there) and we are spending our tax refund on that. We are also doing some remodeling to our house and some money will go to that.

 

[Drew Bethel]

It's going straight to our savings account.

 

[Todd H]

Engagement ring for my girlfriend.

 

[Shane Martin]

Atleast a new Cook Top and then the rest goes towards flooring.

 

[DaveF]

New house expenses (landscaping and deck this Spring).

 

[RudyN]

Paying off bills.

 

[Joseph DeMartino]

Yeah, you'd have a real tough time spending a tax return. A refund is another matter.

I'll have to see what the numbers add up to. I figure I'll do something between paying off some bills and going out to lunch. I have a feeling it will be closer to the latter.

Regards,

Joe

 

[Moe Maishlish]

Isn't it sad though, that this is technically OUR money that's being returned back to us, but with no interest paid on it? :frowning:

Moe.

 

[Leila Dougan]

Nothing. Chances are good that we owe this year, not that I really mind. I prefer to keep my money througout the year while I make it instead of loaning it to the government for a while.

 

[John Kilduff]

It's all going into my bank account. I have to pay some bills and with the remainder, I'll be making a gigantic purchase from Freestyle Music Videos. They have nearly every music video ever made there and they'll customize a compilation just for you or me or anybody you could think of.

Sincerely,

John Kilduff...

Looking forward to when it arrives.

 

[Pamela]

Tax Refund? What tax refund?!?!?!

In addition to my full time job, I have a design/writing/marketing business on the side. I've come to the conclusion that it does not pay to make more money. I used to get nice big tax refunds. Not anymore. In fact, I have to pay taxes quarterly.

Everybody else, enjoy your refunds!

 

[Justin Lane]

That's my plan as well.

J

 

[Garrett Lundy]

I feel so much better about not going back to college this year , Thanks.

 

[DonRoeber]

Pay off the washer and dryer that we bought last spring. Might take the leftovers and go to Vegas

 

[LewB]

Them's some SERIOUS leftovers !