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Tax Refund: What are you using yours for?

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Forum topic by DIYaholic posted 02-09-2012 02:12 PM 1544 views 0 times favorited 31 replies Add to Favorites Watch
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DIYaholic

19372 posts in 2488 days


02-09-2012 02:12 PM

Topic tags/keywords: question tax return

I filed my tax return online, on Friday (2/03/12) and today (2/09/12) my state refund was direct deposited into my bank account. It only took 6 days. I love eFile!!! I’m now eagerly awaiting my federal return.

I’m planning on putting my refunds towards a necessary auto repair/painting.

I, of cousre, will also be aquiring items to permit me to post a “Tool Gloat”!

My Question: What are you going to do with your tax refund?

-- Randy-- I may not be good...but I am slow! If good things come to those who wait.... Why is procrastination a bad thing?


31 replies so far

View Bluepine38's profile

Bluepine38

3371 posts in 2898 days


#1 posted 02-09-2012 02:35 PM

I will put mine in the bank to pay the property taxes, you know what they say about death and taxes.

-- As ever, Gus-the 78 yr young apprentice carpenter

View Bertha's profile

Bertha

13420 posts in 2506 days


#2 posted 02-09-2012 02:43 PM

Depends how much of it the better half gives me! I’d like to eek one plane out of it.

-- My dad and I built a 65 chev pick up.I killed trannys in that thing for some reason-Hog

View Brandon's profile

Brandon

4151 posts in 2764 days


#3 posted 02-09-2012 02:47 PM

A LN #51, right, Al?

-- "hold fast to that which is good"

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Bertha

13420 posts in 2506 days


#4 posted 02-09-2012 02:50 PM

^Here’s hoping, Brandon:) Bluepine, my property taxes just went up 30% out of nowhere. Now their talking about a 30% gas tax increase. I’m bleeding!

-- My dad and I built a 65 chev pick up.I killed trannys in that thing for some reason-Hog

View Gene Howe's profile

Gene Howe

9666 posts in 3241 days


#5 posted 02-09-2012 03:54 PM

Gold!

-- Gene 'The true soldier fights not because he hates what is in front of him, but because he loves what is behind him.' G. K. Chesterton

View CharlieM1958's profile

CharlieM1958

16271 posts in 4031 days


#6 posted 02-09-2012 04:34 PM

Tax refund?

When I graduated from college in 1980, I would have been thrilled to get a job grossing what my wife and I paid in federal income tax this past year. And when I figured my taxes night before last, they still want another $2,500 out of me! And we’re far from being in the $250k range that Obama wants to tax harder. When will it end?

-- Charlie M. "Woodworking - patience = firewood"

View DS's profile

DS

2791 posts in 2233 days


#7 posted 02-09-2012 04:43 PM

Yep, I haven’t seen a refund check in decades. I end up writing a check every year.

The rest of you who receive refunds might try reconsidering the amount you loan interest free to the government. You’ll find it will be worth more if you’ve invested it somewhere else all year. IMHO

-- "Hard work is not defined by the difficulty of the task as much as a person's desire to perform it.", DS251

View Bertha's profile

Bertha

13420 posts in 2506 days


#8 posted 02-09-2012 05:08 PM

^So true, DS251. I had a hard time this year predicting my taxes and gave the gov’t a big fat interest free loan.

-- My dad and I built a 65 chev pick up.I killed trannys in that thing for some reason-Hog

View DIYaholic's profile

DIYaholic

19372 posts in 2488 days


#9 posted 02-09-2012 07:22 PM

I hear ya’ll on the “interest free” loan aspect. However, I tend to live paycheck to paycheck, more or less. My refund is not “LARGE” and I’m not disiplined enough (yup, a major character flaw) to “Bank” $10-25 a week, that or I’ll need it for some “emergency” along the road. The interest would not be that much and it is more beneficial for me to get one lump sum that I can put towards a larger purchase (kinda feels like X-mas). I would easily just spend the small weekly amount on the little necessities of day to day life. This works for ME, perhaps it won’t/doesn’t work for you.

BTW: Thanks, for the replies, everyone!

-- Randy-- I may not be good...but I am slow! If good things come to those who wait.... Why is procrastination a bad thing?

View DrDirt's profile

DrDirt

4399 posts in 3555 days


#10 posted 02-09-2012 11:02 PM

I’m with DIYaholic
My wife works part time and thus has very little taken out in taxes, so I end up floating Uncle Sam a no interest loan…but also plan on the refund each spring usually to do some traveling as a family around spring break.
The amound I am “loaning” wouldn’t really get me to a high enough CD level etc to crack 3/4% interest, so I am really not missing out on much interest growth for myself.

-- “The two most important days in your life are the day you are born and the day you find out why.” Mark Twain

View HorizontalMike's profile

HorizontalMike

7625 posts in 2727 days


#11 posted 02-10-2012 12:13 AM

REFUND?

-- HorizontalMike -- "Woodpeckers understand..."

View jeepturner's profile

jeepturner

939 posts in 2605 days


#12 posted 02-10-2012 01:23 AM

I save money every year to pay what I owe. Every year I owe a little more than the last. I like to blame my wife, she keeps making more and more, as do I but not at the same rate.
The first year that I had to pay was a little painful to the budget, but you get used to it. I would rather have that little extra in my pocket. To each his own though. I know how you feel Randy, and I am not trying to preach. Just saying how it is in my house.

-- Mel,

View Nomad62's profile

Nomad62

726 posts in 2771 days


#13 posted 02-10-2012 04:13 PM

I’ve been using mine to put a circular saw together. Hoping to saw a log this year, I’ll see how it goes. I willingly save monies in the tax program, it may not be genius but the few dollars that I give up (I spend much more on beer) are worth much less than the couple months happiness at a bigger check in the spring time.

-- Power tools put us ahead of the monkeys

View Rick  Dennington's profile

Rick Dennington

5567 posts in 3007 days


#14 posted 02-10-2012 05:31 PM

Refund…..? I haven’t seen one of them in 34 years, but then I don’t expect to….My monies are tax exempt, as my property, and personal taxes are also exempt..So you guys keep sending them checks in so I can get paid every month…...:) Thank you, and I appreciate it…....lol.

-- My grandpa used to say: "Y'all come back when you can....come after dinner, and leave before supper.."

View DIYaholic's profile

DIYaholic

19372 posts in 2488 days


#15 posted 02-10-2012 08:23 PM

Rick Dennington,
More than happy to do what I can! Although I don’t “send” any in at the end of the year, they sure do keep most of what they “requisitioned” from my paycheck!

Great resposes, everyone! Thanks

And all you “Peeping Tom” viewers out there, please tell us your story.

-- Randy-- I may not be good...but I am slow! If good things come to those who wait.... Why is procrastination a bad thing?

showing 1 through 15 of 31 replies

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