Author Topic: How much is your tax refund/tax and what are you doing with your refund?  (Read 4062 times)

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Offline rumborak

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$2000.00 and I bought my first ride on mower.   19 hp, 46" width & a bagger!!! Getting delivered next week.

Random comment, the word "bagger" in German means excavator. I read your post and thought "WTF, what kind of mower is that?!"
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Offline Nick

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We received a tad over $10k....you gotta love having three kids :metal   
>:(

Don't hate the playa'....hate the game   :lol

Not to say yours aren't great, but when the tradeoff is 3 money pits in order to get a bit more back on my taxes... no thanks. :biggrin:
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$2000.00 and I bought my first ride on mower.   19 hp, 46" width & a bagger!!! Getting delivered next week.

Random comment, the word "bagger" in German means excavator. I read your post and thought "WTF, what kind of mower is that?!"

 :lol

Not as fancy like this but close to it.

I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
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Offline JayOctavarium

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How about that Washing Machine, Joe?
I just don't understand what they were trying to achieve with any part of the song, either individually or as a whole. You know what? It's the Platypus of Dream Theater songs. That bill doesn't go with that tail, or that strange little furry body, or those webbed feet, and oh god why does it have venomous spurs!? And then you find out it lays eggs too. The difference is that the Platypus is somehow functional despite being a crazy mishmash or leftover animal pieces

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Online King Postwhore

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Guy coming this week. It's a switch. I've had this happen with another washer.
I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
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Offline gmillerdrake

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We received a tad over $10k....you gotta love having three kids :metal   
>:(

Don't hate the playa'....hate the game   :lol

Not to say yours aren't great, but when the tradeoff is 3 money pits in order to get a bit more back on my taxes... no thanks. :biggrin:

Yeah...it looks good and feels good to see those #'s coming back each year in tax refunds but we're not really 'getting back' the money we're dumping into these three freeloaders  :lol  We have a 10 yrs old, soon to be 9 yr old and soon to be 6 yr old...all boys. Our weekly grocery bill is between $250-$300 because all they do is eat and they aren't even close to being teenagers yet!! They're active and growing and need FUEL!!
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Offline JayOctavarium

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Sorry. ADHD. Carry on. Wayward Son!
I just don't understand what they were trying to achieve with any part of the song, either individually or as a whole. You know what? It's the Platypus of Dream Theater songs. That bill doesn't go with that tail, or that strange little furry body, or those webbed feet, and oh god why does it have venomous spurs!? And then you find out it lays eggs too. The difference is that the Platypus is somehow functional despite being a crazy mishmash or leftover animal pieces

-BlobVanDam on "Scarred"

Offline jasc15

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Some of you folks have huge tax refunds.  What gives?  I know people with irregular income, or 1099 income make estimated payments which might result in overpayment throughout the year I guess.

Offline Chino

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Some of you folks have huge tax refunds.  What gives?  I know people with irregular income, or 1099 income make estimated payments which might result in overpayment throughout the year I guess.

I honestly couldn't tell you why mine is so big. This year's return is the biggest I've gotten in the 10 years I've been getting a return. I don't understand it as much as I should. I give whatever paperwork my accountant tells me he needs, and he seems to deliver awesome numbers every year. I do know that I have the maximum percentage of taxes deducted from every check, and since I bought the house, I've been getting back about $1800 more than I used to. I also gave $800 in charitable donations last year which returns something like 25% or 30%.

I'd rather pay more in taxes and get a bigger return than pay less in taxes on every check.

Offline JayOctavarium

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I honestly couldn't tell you why mine is so big.


Ha
I just don't understand what they were trying to achieve with any part of the song, either individually or as a whole. You know what? It's the Platypus of Dream Theater songs. That bill doesn't go with that tail, or that strange little furry body, or those webbed feet, and oh god why does it have venomous spurs!? And then you find out it lays eggs too. The difference is that the Platypus is somehow functional despite being a crazy mishmash or leftover animal pieces

-BlobVanDam on "Scarred"

Online cramx3

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Some of you folks have huge tax refunds.  What gives?  I know people with irregular income, or 1099 income make estimated payments which might result in overpayment throughout the year I guess.

I pay a shit ton of interesting on my mortgage because it new (refinanced 30 year again recently) and my property taxes in NJ are fairly large compared to the rest of the US.  That adds up to a nice deduction, plus I probably get a decent amount from my income tax return.  I also have a high deductible health plan which I used a lot last year.  I just pop my numbers into turbo tax and answer all the questions honestly and have the paperwork to prove it if I were to get audited.

Offline jasc15

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he seems to deliver awesome numbers every year.
I don't get this either.  There are no awesome numbers, just the right numbers.  At the end of the 1040, you figure out what you should have paid the government.  I suppose a skilled accountant will find all deductions you are eligible for, and since you pay a mortgage you probably itemize.  So that simply lowers your taxable income as much as legally possible.  However, knowing this you can reduce the amount withheld and end up paying near what you owe, rather than thousands more.

But..
Quote
I'd rather pay more in taxes and get a bigger return than pay less in taxes on every check.
Who am I to say otherwise.  At least interest rates are low.

Quote
I do know that I have the maximum percentage of taxes deducted from every check
You can put any dollar amount on your W4 to tell payroll how much to deduct from your paycheck, so I'm not sure what you mean by maximum percentage.

Offline Dr. DTVT

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My taxes are pretty straight forward.  Claim zero on W-4, deduct student loans (stupid $2500 max  >:( ), deduct state and local sales tax, standard deduction.

Florida also has no state income tax, so that's nice.  Tax those tourists instead :)

When I was in grad school, I was getting tax credits and deductions out the wazoo.  I miss those days.
     

Offline Neon

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I got about $1300 back.

I should just pad my savings account but...fuck it- I'm going to Disney World!
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Offline TempusVox

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Not enough....   :biggrin:

I have a rough idea, but honetly don't know. My accountant files an extension every year so she can have more time to go over every thing. The extra time also allows her to take advantage of any retroactive changes to the tax law that might be made after the April deadline, without the added time and expense of filing an amendment. We have a ton of investments and put a lot of money into municipal bonds too, so she's pretty busy trying to lower our burden every year. So, we always file in October.
« Last Edit: March 31, 2016, 10:29:38 AM by TempusVox »
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Offline vtgrad

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We received a tad over $10k....you gotta love having three kids :metal   
>:(


Just bought a car so all excess money I make is going to replenish my house down payment fund. On the bright side my return was higher than normal. My medical expenses aren't enough to surpass the standard deduction, so I'm not sure why it's higher now than the last two years. Eh, fuck'it.

Look into the USDA 100% Guaranteed Loan program if you'd like to keep that money for repairs/appliances ect; depending on where you live it TX (eligibility is based on population density for the county/town/city the property is located in), you may be able to find properties eligible for the program.  Personally, I'd recommend a Mortgage Broker (because I am one... not licensed in TX though), because they'll likely have greater access to the Guaranteed Program (there is a USDA Direct Program as well... but it's not ideal in my opinion because of a lower income limit threshold) and the interest rates available will trend lower for a Broker that with Retail institutions.  It's true 100%... as long as the property appraises for enough to cover purchase price and closing fees, the borrower comes to the table without a penny.  Probably 40% of my business here in Southwest VA.

In answer to the OP... Roughly $5K.  Most in Savings for our new home (if we find the right one... we've owned for 10-yrs so we're not in any hurry) and retirement.  $400 for the Spring golf trip to NC; $1,000 for the DT concert in Baltimore (that's including hotel for 3-nights, gold package tickets, and car rental... not goin' to ding my own ride); $500 for next year's Mt Washington winter climb.
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Offline Chino

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Turns out my accountant acidentally sent me my sister's figures (we go to the same guy) via email. I received my official paperwork yesterday and it was $1400 more than I originally thought  :metal

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Around $1,300.00 or so.

Since my wife has been unemployed since January, it will go into the living expenses fund.  Yay.
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Offline Cecilia

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About $2200. We are putting it in our joint account, which we mostly use for emergencies.

Offline OpenYourEyes311

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Filed in Feb. Got about $3500-4000 about two weeks before buying a house with it (helped with the down payment). Worked out!
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Online lonestar

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Well shit, I'm getting money back for the first time in ages. Not sure what the hell to do about it.


Looking at $100 from the feds and $200 from the state. Time to start eyeballing the concert calenders.....

Offline Sir GuitarCozmo

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$1,100.  Got my refund mid February.  Our tax person (a long time friend of Mrs. C) figures our unique situation every single possible way that she's legally able to, in order to get us the most back.  Some of it paid to have my Marshall repaired, more will cover having my 26 year old guitar refretted, some will cover expenses when we go to Cape Cod next weekend.

Online King Postwhore

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$2000.00 and I bought my first ride on mower.   19 hp, 46" width & a bagger!!! Getting delivered next week.

Random comment, the word "bagger" in German means excavator. I read your post and thought "WTF, what kind of mower is that?!"

Here is is.  The "bagger" is in the back of the mower.

I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
"Oh, I am definitely a jackass!" - TAC

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Dope
That's a word salad - and take it from me, I know word salad
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I"m impressed.

Offline Sir GuitarCozmo

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Dope

Are you saying the mower is dope or that you're using your return to buy dope?

Online King Postwhore

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The lawn would be fucked up if I was on dope.
I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
"Oh, I am definitely a jackass!" - TAC

Online cramx3

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The lawn would be fucked up if I was on dope.

Or it could be the nicest lawn you've ever had.  You won't know until you try.

But more likely you may never make it onto the mower  :lol

Online King Postwhore

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I know how I acted in my youth. I'd be a wreck today.
I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
"Oh, I am definitely a jackass!" - TAC

Offline gmillerdrake

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The lawn would be fucked up if I was on dope.

Or it could be the nicest lawn you've ever had.  You won't know until you try.

In the heyday of my pot smoking days I held a job as a lawn maintenance worker.....and, I could stripe up some grass with the best of them.  :lol 
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Online King Postwhore

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Now you would be all messed up in the bushes.  :lol
I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
"Oh, I am definitely a jackass!" - TAC

Online jingle.boy

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Now you would be all messed up in the bushes.  :lol

No, that was when he was a bar manager.
That's a word salad - and take it from me, I know word salad
I fear for the day when something happens on the right that is SO nuts that even Stadler says "That's crazy".
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Online King Postwhore

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That would be landing strips in the 90's.
I don't like country music, but I don't mean to denigrate those who do. And for the people who like country music, denigrate means 'put down'.” - Bob Newhart
So wait, we're spelling it wrong and king is spelling it right? What is going on here? :lol -- BlobVanDam
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Online lonestar

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Now you would be all messed up in the bushes.  :lol

No, that was when he was a bar manager.

Ah the good old days of the sprinklers being my alarm clock.

Offline kirksnosehair

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I'm gonna decline to post the exact amount of my refund, but it's paying for my new roof this spring.  :)