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POLL: What are you doing with your tax return?

Started by Schatzy,

What are you doing with your tax return?  

111 members have voted

  1. 1. What are you doing with your tax return?

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29 posts in this topic

jgrinz

jgrinz

Posted
Posted

Return WHAT return

I have not had one in 25 years :(

 

Actually I did one year and it went to pay taxes for the next year ahhahaahahha

 

But if I did it would be for paying down debt in this uncertain economy ...

 

 

 

 

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Schatzy

Schatzy

Posted
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Posted
I just completed my taxes today and plan to spend all ($2,559) on new coin purchases!! :banana:

 

Let me guess - you're not married?

 

 

Correct....but I do live with my fiance

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physics-fan3.14

physics-fan3.14

Posted
Posted

I'll probably buy a coin, put half of the rest in savings, and pay off student loans with the other half. Turbotax tells me I get a very nice refund this year ($4500), but I'm not entirely sure some of its deductions are correct. Of course, I paid more in taxes than many people make in a year, so I darn well expect some of it back.

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BillJones

BillJones

Posted
Posted

No coins for me from the tax return. The refund money, If there is any retfund it will either be left at the IRS to pay next year's estimated taxes or go the "house general fund."

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Jeffrey Cardona

Jeffrey Cardona

Posted
Posted
I just completed my taxes today and plan to spend all ($2,559) on new coin purchases!! :banana:

 

Why would you want the government holding on to your money?? :screwy:

 

Basicly you are having them act like a bank without having them pay you interest!

 

Adjust your withholding and keep it yourself to invest!!

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Jakeblue

Jakeblue

Posted
Posted
I just completed my taxes today and plan to spend all ($2,559) on new coin purchases!! :banana:

 

Why would you want the government holding on to your money?? :screwy:

 

Basicly you are having them act like a bank without having them pay you interest!

 

Adjust your withholding and keep it yourself to invest!!

 

Smart option to do so, but just drop a bulk in a IRA each year and you gain a tax break and a solid investment (if you are careful where your IRA is invested). I adjust to have both a modest return and investment vehicle. Nice getting that check every year.

 

I have spent part of it on the UHR coin. Nice.

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RI AL

RI AL

Posted
Posted
Tax refund...WHAT tax refund? Do you mean people actually GET them???

 

RI AL

 

Just to clarify, (I am very envious of those of you that do get refunds) even though my wife and I have put $ away each year in 457, 403b plans and Roth IRA's, we still don't get a refund from the Feds. We DID get $125 back from the state of Massachusetts for our 2007 state tax return as we were both employed there (until my retirement/disability/kidney thing). Interestingly we have to declare that $125 refund on THIS year's tax return as income. (I never could figure that out...seems like I'm paying taxes twice on that money. I paid my Massachusetts state tax, overpaid by $125 and got refunded and now I'm being taxed on the refund). :screwy:

 

This year I'm SURE we won't get a refund because we no longer have a mortgage and that deduction for the interest paid is gone. And, being retired, I'm not allowed to contribute to a Roth, or my 403b. (not that my pension is that generous that I could anyway). :(

 

And NOW you know why we have our taxes professionally done each year...it's too much for my head...and Turbo Tax would probably spit us out to the next galaxy. I do SO love tax season. doh!

 

IF, by some miracle, we DO get a refund, I'm going to spend it on coins...all 77 cents of it!

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Mozin

Mozin

Posted
Posted

No way I want a refund when I file my tax return. Uncle Sam is not going to get free use of my money. When filing, I usually have to pay just under what would trigger a penalty for not having enough withheld.

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Schatzy

Schatzy

Posted
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Posted
I just completed my taxes today and plan to spend all ($2,559) on new coin purchases!! :banana:

 

Why would you want the government holding on to your money?? :screwy:

 

Basicly you are having them act like a bank without having them pay you interest!

 

Adjust your withholding and keep it yourself to invest!!

 

First....I am not :screwy:

 

Second.... I make it so I would get no tax refund but when you get to write off college well you end up getting a refund.

 

Third....you can not predict all of your write-offs so I would rather get a refund than write them a check!!

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astrostu

astrostu

Posted
Posted

I usually pay every year. And I would this year. But, I got my own grant, which is in the official form of a Fellowship, which is non-taxable. Got paid off a regular grant during the summer, fellowship during the 9-month academic year. That meant that my reportable taxable income was below poverty level and I get everything back. :) I'm quite happy, and I'm using it to justify getting - in addition to a 24-70mm f/2.8L for my camera that I had budgeted for, a 580EX II flash unit and a professional tripod.

 

Nothing coin-related, but my coin budget this year is at the $6.5k level already.

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Revenant

Revenant

Posted
Posted

I'm a college student that gets under $5,000 every year from working part time jobs. I work for the university and for student workers they don't withdrawl either social security, or medicare or medicaid, so I've never had to pay any of those. They do however take out some of it for income tax. It's usually so little from each check that it's trivial. but then, I make so little per year (partially because I don't work over the 3 month long summer vacation) I'm not really taxable and I get all of it back (rounded to the nearest dollar) at the end. This year's return is about $122.

 

The funny thing is, I always have a non-even dollar amount of tax taken out with less than 0.50 after the decimal. SO they always round DOWN and keep some of my change. Those cheating jerks... :censored:

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Schatzy

Schatzy

Posted
  • Author
Posted
I'm a college student that gets under $5,000 every year from working part time jobs. I work for the university and for student workers they don't withdrawl either social security, or medicare or medicaid, so I've never had to pay any of those. They do however take out some of it for income tax. It's usually so little from each check that it's trivial. but then, I make so little per year (partially because I don't work over the 3 month long summer vacation) I'm not really taxable and I get all of it back (rounded to the nearest dollar) at the end. This year's return is about $122.

 

The funny thing is, I always have a non-even dollar amount of tax taken out with less than 0.50 after the decimal. SO they always round DOWN and keep some of my change. Those cheating jerks... :censored:

 

You don't have medicare or social security taken out so why are you complaining about a few cents.

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Mark T

Mark T

Posted
Posted
I'll probably buy a coin, put half of the rest in savings, and pay off student loans with the other half. Turbotax tells me I get a very nice refund this year ($4500), but I'm not entirely sure some of its deductions are correct. Of course, I paid more in taxes than many people make in a year, so I darn well expect some of it back.

 

What do you do for a living or are you making all that money writing covered calls in the Market ? :cool:

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michael

michael

Posted
Posted

a really small refund for me

 

i will send it to one street orphan kid in saigon who is 13 and lives on the street collecting bottles i will buy him a cart and umbrella and set him up with money to buy newspapers and books so he can sell them daily and make a living

 

he has a good safe spot and will do okie but he needs the cart and seed monry to buy the various daily newspapers and books to sell

 

he will do okie and make a living

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Revenant

Revenant

Posted
Posted
You don't have medicare or social security taken out so why are you complaining about a few cents.

 

It's the principle of the matter. They owe me a full refund. If they can let people get more back from the IRS than they gave them in the first place, they can give me my change. rantrant

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Revenant

Revenant

Posted
Posted
What do you do for a living or are you making all that money writing covered calls in the Market ? :cool:

 

I don't think anyone that was in the market last year had much in the way of positive earnings.

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astrostu

astrostu

Posted
Posted
For those of you getting those big tax refunds, why are you letting the government use your money for free ? Tax planning people, geez . :grin:

 

I do. That's why every year I end up paying taxes. But even with that, this year is just weird because of the Fellowship (and next year will be the same). Huzzah for non-taxable government grants. :)

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smullen

smullen

Posted
Posted

I'm putting ours in the bank to help pay for the tuition for my Daughter's Private School next year...

 

I'd love to put it towards a few gold eagles, a few nicer morgans, or a few 10 OZ bars of Silver...

 

But, not so much for me...

 

I can't complain, last year I spent a tad over 1800 on a scope for my Remington 700 VSBB Rifle .308...

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