How are you handling your return?

[Handbag Lady]

We never get a refund but I sure do enjoy reading what you all do with yours. It is like winning the lottery to me. We just try to balance it out so that we don't have to pay TOO much come April. We do have fun with it, though, we wait until the last second to mail the check. Wheeeeeeee?

We're married, no kids, no house. We make too much money, is what three CPAs told us.

And about that furniture. Mine is over fifty years old and I wouldn't get new furniture if you paid me.

 

[akcire]

I'm getting $78. No plans needed

 

[rockawaybeachgirl]

We never get a refund but I sure do enjoy reading what you all do with yours. It is like winning the lottery to me. We just try to balance it out so that we don't have to pay TOO much come April. We do have fun with it, though, we wait until the last second to mail the check. Wheeeeeeee?

We're married, no kids, no house. We make too much money, is what three CPAs told us.

And about that furniture. Mine is over fifty years old and I wouldn't get new furniture if you paid me.

Well, I'm a CPA and I'll tell you:how much money you make has nothing to do with whether you CAN get a refund. It's based on how much you have taken out of each check vs. what your true liability is. If you reduced your witholdings or had extra money taken out during the year, you'd get a refund no matter how much you make. If someone making $250k owed $40k in taxes and had $50k taken out during the year, they'd get back $10k just like some of the folks in this thread.

Now, you might make 'too much money' to qualify for certain deductions or credits, that is true. But it doesn't affect whether or not you COULD get a refund.

Also for others who are asking for 'tips' for those getting huge refunds - if they are employing smart tax strategies that you are not, then maybe they would have some useful advice. But generally, it just means they are getting money they are entitled to all year in one lump sum. It doesn't necessarily mean they are doing anything 'smart' about reducing their tax liability - they are just paying it off differently.

 

[ilovemk76]

Well, I'm a CPA and I'll tell you:how much money you make has nothing to do with whether you CAN get a refund. It's based on how much you have taken out of each check vs. what your true liability is. If you reduced your witholdings or had extra money taken out during the year, you'd get a refund no matter how much you make. If someone making $250k owed $40k in taxes and had $50k taken out during the year, they'd get back $10k just like some of the folks in this thread.

Now, you might make 'too much money' to qualify for certain deductions or credits, that is true. But it doesn't affect whether or not you COULD get a refund.

Also for others who are asking for 'tips' for those getting huge refunds - if they are employing smart tax strategies that you are not, then maybe they would have some useful advice. But generally, it just means they are getting money they are entitled to all year in one lump sum. It doesn't necessarily mean they are doing anything 'smart' about reducing their tax liability - they are just paying it off differently.

What!!! You cannot be serious!

 

[MrEVILdrPorkchop2u]

Looking forward to paying off my wife's SUV, credit card, and the rest is going towards son heading to college in the fall. Excited to be down one car payment at least for a bit. Figure we will be putting that extra money a month aside to go towards a newer used car that will get better gas mileage this fall.

 

[Pandora5]

My refund is going to fund our post deployment 8 night poly CL stay in June! I can't wait to get home in late May and then spend this money on quality time with my wife and kids, making memories at the happiest place on earth!

Just wanted to say THANK YOU! I'm grew up an "Air Force brat" on Myrtle Beach and Randolph AFBs and will always feel blessed to have done so.

 

[gjl]

Just wanted to say THANK YOU! I'm grew up an "Air Force brat" on Myrtle Beach and Randolph AFBs and will always feel blessed to have done so.

Thanks! I appreciate that!

 

[ZephyrHawk]

I'm fairly certain I'll be getting a refund this year as I got myself a brand new deduction in November. I'll be using said refund as part of my emergency fund since DH is out of work for the next few months caring for said new deduction. Then, whatever is left of it, along with the other emergency fund savings I banked all last year, will go into the new deduction's 529 plan.

 

[gjl]

I'm fairly certain I'll be getting a refund this year as I got myself a brand new deduction in November. I'll be using said refund as part of my emergency fund since DH is out of work for the next few months caring for said new deduction. Then, whatever is left of it, along with the other emergency fund savings I banked all last year, will go into the new deduction's 529 plan.

Congrats on the new deduction!

 

[rosanab1031]

Paying off some credit card debt and then adding the rest to my savings to earn some interest for my first trip to Disney World in June! WOOHOO!

 

[momof2gr8kids]

Part to a credit card and part into savings.

I'm hoping next year to be able to say I'm putting it to something fun, like a DVC purchase. LOL

 

[MrsDrewsky]

It's all going into savings to pre-pay our hospital bills.

 

[MrEVILdrPorkchop2u]

Paying off DW's SUV and a credit card are the 2 big things. With DS getting ready for college this fall, having an extra 500.00 a month will come in handy.

 

[dizluvah]

we decided to put 1/2 away for our young DD, the rest just into our savings for those things that come up ( car repairs, unexpected things that crop up; you know...life)

 

[DisneyElite4]

We're not getting much of a refund, but what we do get we plan to use to pay off the remainder of our car.

 

[mantysk8coach]

Part of it for a Disney trip...yay! Pay off some medical bills, NKOTB concert, and a trip to Hershey, PA for a skating competition that my daughter, and some of my students that I coach are participating in. Anything that's left will stay in savings.

I already have part of next years mentally spent too...new skates finally after 12 years, and central air.

 

[FINFAN]

college , again. It is such a fun-sucker (college costs, that is)
I was hoping to fly out and visit DD in CA where she moved for work, but not gonna happen

 

[mommy2_3]

we just got ours! put a good chunk down on our trip to Disney, after catching up on bills (when my sister lived with us we got behind on bills trying to take care of her and her 3 kids) and paid off a loan we had out.

 

[bdcp]

We try our hardest to not get a refund every year, or at least not much of one. It's my money and I want it, not let the gov play with it. Anyway, we owe Fed a whopping $27-yay, that one worked. And we're getting $1650 from state, deposited today actually. I paid off DH's car last month (2 years early) so starting to hit cc's since my car has been paid off for 2 years (also 2 years early). Working on our two cc's, but the refund is mostly going to go towards some landscaping we're having done. I'm already paying 3x the min on one card so paying it off this year.

 

[WeLoveLilo05]

Mine is really exciting. We'll use it to pay our property taxes.

The joys of being an adult right?

We plan on getting new hardwood floors in the living room (rug is 12 years old and previous owner had 2 dogs and a cat, my husband is really allergic, when we moved in we could only afford to do our bedroom, so its finally going to go!) a new fence (Sandy killed ours!), credit card, savings, and Disney