Tax Return Shopping Poll

As an accountant, wouldn't you say that it would be better to pay as little as possible during year and then YOU collect interest for a year, then pay Uncle Sam in April?

 

Family trip to Newfoundland this summer!

 

Never saw that coming! Expected Disney World but not NL. Where you heading?

I usually get between $1000 - $1500. In the past I take it and pay off my insurance for the Tacoma and my sport bike for the year.

 

Yeah I hear that over and over again but the problem is I can't save a dam penny and spend every paycheck as they come in. I let sam take the max Besides interrest on a few grand is not really that much anyway.

You have a very good point.


Whatever I'm getting back i'm using it to pay for a new roof for the house or paying off the truck.

 

getting back about $9800 (just bought a condo two months ago). Will get new tires for the tacoma plus a backup camera. The rest may go toward improvements to the condo.

 

im getting rougly 700 back..its either going to get saved, or go towards vacation..Not sure yet. Gotta see how broke I am come August

 

Do you know what sucks? We closed about a month before the flippin tax credit.

 

i hear rumor of them extending teh 8000 tax credit for new home, well not extending but pushing back the date they started....so if thats the case, another 8k for us!

 

LOL! Pre-Spent mine on Avid Off Road lightbar and side steps!!! Can't wait to they show up!

 

God I hope so I could really use it to upgrade/fix the house.

 

I got about 2300 total, I voted wrong though and put 1k-2k. I got in on the weathertech group buy and after the money I'll get from my insurance claim from my bike being stolen that probably won't be found I'm gonna put it into a new yz250. Then who knows maybe a best top?

 

Got about 8300 back. Took care of some debt, almost payed off my Yukon, bought a PS3 and Got a new couch.

 

My tax return was a whopping $4... But thats because im only 16 and Iv only been working since late November

 

Got 4600 back. I figured i'd spend about 1k on getting the trans fluid changed, rear end fluid, spark plugs, airbag rear suspension, and then save the rest. My lease is almost over and I want to pay cash for it when I'm done.

 

Got about $2000 from state and federal. Bought new rims and tires and the remaining $800 paid off the credit card.

 

It should be bullshit in every tax payers eyes. Can you explain why you should get $8k for buying a house between two specific dates and joe blow down the street, who owns a house doesn't get $8k beacuse he bought 30 days, or 30 months earlier? And where does this money come from.

I'll go as far to argue that you shouldn't get a tax break because you pay mortage intrest. Why does owning a house entitle you to lower your taxes?

Ultimatly, the point is, our entire tax code is a joke. Actually, the entire .gov is joke as well, but we'll save that for anouther day.

 

I was a first-time homebuyer in 2008, so if I had claimed that tax credit I would have to pay it back. Its like getting a loan. I'm getting back almost 2k this year. I'm gonna get some new tires and save the rest.

 

Theoretically this is close to correct, but you need to take it one step farther. In theory the best you can do in a year is at the end owe the Government as much as possible before getting charge a underpayment penalty. I almost hit it perfectly this year as I owe them a whole chunk of money including a $35 underpayment penalty.

For people getting huge refunds and carrying credit card debt, they are out of their minds.

 

$3800, but buying a privacy fence and doing landscaping.

I could only wish to use that on my truck.

 

i can deal with the intrest free loan version of the credit, but the free money version just irks me.

i'm done...on to the next topic.