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Tax windfall proceeds

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Forum topic by Slacker posted 185 days ago 397 views 0 times favorited 29 replies Add to Favorites
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Slacker

152 posts in 187 days


185 days ago

Topic tags/keywords: tax windfall question

Has anyone thought how they are going to spend their tax windfall? Or are you going to do the responsible thing and pay down your credit card(s)?

Hmmm… $600 might get me a nice drill press. Or a ton of clamps. Or maybe some panels to build a garage workshop.

-- There are three kinds of people... those who can count, and those who can't

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8iowa

126 posts in 247 days


185 days ago

I would like to find something to do other than send a sizeable percentage to China.

-- "Heaven is North of the Bridge"

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Scott Bryan

9100 posts in 308 days


185 days ago

My wife will probably get mine. She has a bad habit of assuming any extra money is hers and, since she is a high maintenance woman, it goes quickly.

-- With God's help all things are possible- even woodworking. Woodworking is not just a hobby, it is an (expletive deleted) expensive hobby.

View Mario's profile

Mario

714 posts in 537 days


184 days ago

I was responsible and paid off the card and some other debt. No fun but it has increased my monthly alotment for shop use.

-- Hope Never fails

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dustygirl

23 posts in 214 days


184 days ago

Mine is going to help pay off my new shop.Pay off one bill then start again with something else.And on,and on,and on. (lol)

-- Bon... Hastings,Ontario

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flink

95 posts in 206 days


184 days ago

I need to give this one to my wife. I spent my whole fed refund at Woodcraft and Rockler.

-- Made lots of sawdust and pounded some nails. Haven't finished anything, though.

View DannyBoy's profile

DannyBoy

212 posts in 351 days


184 days ago

Pay off of debt and investing. Pretty much what I’m supposed to do. However, my wife (the financial one in the family) has promised me that we can buy a new TV or table saw when we get the last car paid off (by the end of the year). The only catch is I have to choose one and we also have to save up enough to pay cash for it.

-- Happy Ripping!!!

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tenontim

918 posts in 230 days


184 days ago

New tires for the truck and the rest will go into the house construction.

-- Tim -- http://tmuli.com

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JJackson

78 posts in 568 days


184 days ago

I DON’T WANT THE CHECK!!!!!!!!!!!

I pay my mortgage, I don’t have balances on my credit cards, my vehicles are 10 years old and paid for, I have a good 401K, savings account and am saving my money for my kids education.

TAKE MY CHECK AND APPLY IT TO THE NATIONAL DEBT SO ALL OUR CHILDREN CAN HAVE A FUTURE IN THE US!!!!

I’ll get off my soapbox now. : )

Jeff

-- Jeff, Indiana

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tenontim

918 posts in 230 days


184 days ago

Your check wouldn’t be a drop in the bucket, Jeff, by time the government bought 7 toilet seats or hammers, it would be gone. You could make better use of it than the gov.

-- Tim -- http://tmuli.com

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motthunter

1223 posts in 285 days


184 days ago

Cant go to Walmart… too much cash to the Chinese there.
No computers.. money goes overseas too.
No toys for the kids.. money goes to foreigners too…
Beer is made in the US.. but I don’t drink.

Guess I will put it away so it can earn some interest. This government is so foolish. This effort is more like trying to buy votes than stimulate an economy. I won’t be fooled.

-- making sawdust....

View Red Headed Merganser's profile

Red Headed Merganser

751 posts in 660 days


184 days ago

Good on you, Jeff. Nice to know I’m not the only one out there who feels the same way…

It is hardly “free” money – it is going to cost us a whole lot more in the long run, to be sure.

Mott, Lie-Nielsen is an American company and they make some pretty good things, I hear. ;)

-- Ethan, http://www.merganserwoodworks.com, http://greystonegreen.blogspot.com/

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tenontim

918 posts in 230 days


184 days ago

There you go, Ethan. And the Maine economy is in the toilet right now, so every little bit will help them out.

-- Tim -- http://tmuli.com

View DannyBoy's profile

DannyBoy

212 posts in 351 days


184 days ago

Don’t forget that you have to claim the check as income on next years tax return….

-- Happy Ripping!!!

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mrtrim

1548 posts in 366 days


184 days ago

and the chinese keep smileing . they luv you dubya

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dennis mitchell

2945 posts in 800 days


184 days ago

Billions in corporate welfare and I’m going to save the economy by them giving me back my money…or more to the point borrowing it from my grand kids. And we keep voting for these idiots.

-- http://www.woodsongsfurniture.com

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mski

242 posts in 466 days


184 days ago

Give it to DNC

-- MARK IN BOB, So. CAL

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John Gray

697 posts in 371 days


179 days ago

Wife said to the credit union…..so what did we do. If Mama’s happy everybody’s happy.

-- Only the Shadow knows....................

View cpt_hammer's profile

cpt_hammer

72 posts in 298 days


179 days ago

Pay off wife car, so I can replace my car that just broke down with a pickup so that I can haul lumber from HD or Lowe’s to make more projects.

View rikkor's profile (online now)

rikkor

7686 posts in 360 days


179 days ago

$120.00 to Church, the rest to re-upholstery.

-- Maplewood, MN

View itsme_timd's profile

itsme_timd

453 posts in 317 days


179 days ago

Amen, Rikkor! Firstfruits! ;-)

Uncle Sammy still wants another $18k from me….. I know exactly where my stimulus check will go!

-- Tim D. - Woodstock, GA

View che's profile

che

123 posts in 512 days


179 days ago

DannyBoy You don’t have to claim the check on your 2008 taxes. A little more money in your pocket.

From the IRS Website…..
Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

http://www.irs.gov/newsroom/article/0,,id=179181,00.html
(the question is near the bottom of the web page.)

-- Che.

View Mike Kemper's profile

Mike Kemper

42 posts in 297 days


179 days ago

It’s buying my new band saw

View Bill Hall's profile

Bill Hall

93 posts in 352 days


179 days ago

We’re using ours to replenish some of what we had to pay in taxes. ;)

-- Log...log...it's big, it's heavy, it's wood!

View Josh's profile

Josh

84 posts in 424 days


179 days ago

My tax return just showed up yesterday, and today there is a nice new 8 inch jointer headed this way. Sadly a chunk of my cash is now headed to china. Of course the money I make off this jointer will hopefully be spent stateside. :)

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teenagewoodworker

2033 posts in 254 days


179 days ago

well i wish i had a tax refund to spend. but then again I’d probably pay for it in the long run, sigh!

View Zuki's profile

Zuki

855 posts in 563 days


179 days ago

Geeze . . . wish I was getting a Stimulus Payment.

-- The significant problems we face cannot be solved by the same level of thinking that created them

View RAH's profile

RAH

293 posts in 363 days


179 days ago

I am going to have my well inspected and use the remaining purchasing American goods and keep it here.

-- Ron Central, CA

View teenagewoodworker's profile

teenagewoodworker

2033 posts in 254 days


179 days ago

ya go America. I’ve decided that with my tax windfall (even though i don’t get one, I’ll just pretend so i don’t feel bad about spending the money) I’m going Lee Nielsen all the way. Made in America and probably some of the best quality that you can get. GO AMERICA!!!!

View Doug S.'s profile

Doug S.

192 posts in 194 days


179 days ago

Well my regular federal refund covers the Brese small smoother plane that’s currently getting made. Haven’t given much thought yet to the other refund.

-- Use the fence Luke

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