Tax Returns

**AmyBoz** · 02-03-2007, 09:42 PM

I apologize if this was posted elsewhere...I searched and didn't find it.

Dh prepared our taxes today and we'll be looking at a nice refund, since I was out of work for a few months last year on maternity leave. Our refund will go into our "house account" fund where we are saving to make repairs on the house.

Are you getting a refund, and if so, what will you do with it?

**acidcookie** · 02-03-2007, 09:51 PM

Just finished all my taxes today! Just getting about $400 and it's going into my savings account for my June & July salary (I only get paid August-May)

**cheappearls** · 02-03-2007, 10:38 PM

We got $5157 back. We filed January 20th and it went into our bank yesterday.

We paid off our credit card (WOOT!), put $2000 into savings, DH got an Xbox 360 with some extra things (a little under $800), I spent $120 on cloth diapers for my youngest, we are getting our dog fixed (about $70), I'm buying a few books for me and craft things for my boys. That's about as far as our plans got. haha.

Phew.

**nwmissourigal** · 02-03-2007, 11:21 PM

I can't remember the last time we got money back. We own our own business and pay quartley taxes and it is never enough. We always end up paying and I work outside the home and have extra taken out of my check and it still isn't enough. It just drives me nuts. But I am happy that some of you get money back...Blessings..Kathy

**Neeley** · 02-03-2007, 11:23 PM

We do not get a refund. DH is a CPA and adjusts our withholdings so that we pretty much break even at the end of the year.

**halloweenfreak** · 02-03-2007, 11:30 PM

we're getting a nice chunk back this year which im going to pay off some cards with (sears 700, penneys 630, lane bryant 1091, king size 190 and 1 mbna card 4565) writing it all down made me sit back and just shake my head. how did we let our debt get so out of control?? after thats all paid off i am snowballing our furniture payments and should have all 1000 of it paid by may. i made out a rough draft of bills for the rest of the year and hope to snow ball a little more then half of our last mbna card which has a balance of 8487.
which leads me to a question.... should i snowball that last credit card and then pay off the remainder of the balance with NEXT years tax return, or just pay a little more then the minimum payment, pay it off with next years return and put the money i would have snowballed, into a savings? (we have 50 bux in our savings account, yikes!)

**Megareader** · 02-04-2007, 06:24 AM

Our refund this year will go into savings. Dh thinks he will need cataract surgery this year and he does not get sick time at his job so we'll need the refund to carry us through the time he'll be off work.

**ConnieD** · 02-04-2007, 08:47 AM

Wow.......... you guys get to file really early.

In Canada, by law, all agencies have until the end of Feb to send out tax slips for the previous year. Hubby doesn't usually get his T4 from work until mid-Feb. I'm always ready though, to get the stuff to the accountant as soon as everything is in.

I used to do the taxes myself, but when I started my business I turn it all over to the accountant at the end of the year.

Anyways, we usually get between $5000 - $5500 back each year. This year all of it's going into the "car" account. With my fleece due in Oct I want a nice amount in saved up to get a decent car.

Congrats to all of you paying off your debt with your tax returns. That's what we did last year with ours. Paid it all off and it sure feels good!

**warramra** · 02-04-2007, 09:31 AM

We finally got DHs W2 on 1/30, nothing like waiting until the last minute. I filed on 1/31 - yes I had been waiting for it. We will get back ~$6000 this year, a little more than normal because ds' birth towards the end of the year. Our plan is to fund the rest of our baby EF, put away $500 for a trip to the outer banks this spring and pay off one credit card in full. Then we can begin snowballing the other credit card.

**bumplett** · 02-04-2007, 09:31 AM

I finished everything & mailed it out Friday - then my hubby said something to me last night...while I was talking to him on the phone (keep in mind that he's been stationed in California since Sept.) .... I NEVER SIGNED THE RETURN!

so.... I don't know what to do now?! but I am going to call the IRS & find out what I have to do ...

If & when we ever get our refund --- (which has now been delayed by my absent mindedness) it will all go towards the payoff balance on our truck...

**JustJoy** · 02-04-2007, 09:34 AM

DH is filing ours today. We'll be getting a little over 2K back. Most of it is going into savings.

**jamie79** · 02-04-2007, 11:24 AM

We already got ours back and paid off the majority of one bill and bought 2 cords of wood. So our debt load is now $2,500 less!!!

**Neeley** · 02-04-2007, 11:25 AM

Originally Posted by bumplett

I finished everything & mailed it out Friday - then my hubby said something to me last night...while I was talking to him on the phone (keep in mind that he's been stationed in California since Sept.) .... I NEVER SIGNED THE RETURN!

so.... I don't know what to do now?! but I am going to call the IRS & find out what I have to do ...

If & when we ever get our refund --- (which has now been delayed by my absent mindedness) it will all go towards the payoff balance on our truck...

So sorry to hear this. You aren't the first one it has happened to. Give the IRS a call Monday morning. There is a form for this. I do not have the form number right off hand, but they will know it. I am not sure if it is downloadable or if they have to mail it to you, but again they can tell you.
Good Luck!!!

**KKCondrey** · 02-04-2007, 11:33 AM

we filed ours online Thursday night. When it comes in we are going to buy Paige some stuff for her b-day, pay off DH's lowest student loan, pay ahead on my car, the house and the car insurance and then I am putting some aside for my vacation in July since I will be off work a week with out pay.