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4K views 49 replies 45 participants last post by  starsapphire 
#1 ·
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?
 
#3 ·
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. :relieved:
 
#4 ·
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
 
#6 ·
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!)
 
#8 ·
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!
 
#9 ·
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.
 
#10 ·
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! :eek:

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...
 
#13 ·
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!!!
 
#11 ·
DH is filing ours today. We'll be getting a little over 2K back. Most of it is going into savings.
 
#14 ·
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.
 
#16 ·
We finally got all of our w-2's etc. on Saturday. We're going to file asap and plan on splitting it in thirds....dh get's 1/3, I get 1/3, savings gets 1/3. Dh is planning on putting his $ towards a laptop to take with him on deployment, I'm not sure what I want to do with mine yet.
 
#17 ·
My mom works for H&R Block and does our taxes for free. :) We'll get a refund, not sure how much yet, but it will all go towards the house since the bank messed up our escrow account last year and is tacking on the difference each month this year. :mad: (Yes, we're looking at refinancing.) We had planned to get a fence for the backyard, but, looks like that will have to wait.
 
#19 ·
I started my taxes, but I still have to itemize my deductions. Waiting for a statement from the dentist that they still haven't sent :mad:

DH and I split, last year we got $3400. I'll use mine this year to pay off unemployment, pay for my trip to New Orleans, and save the rest till I decide what to do with it.
 
#21 ·
We are still waiting and since I think some things will be forwarded, I will probably wait a couple of more weeks to file. We can never get our refund down below $3000. We end up paying nothing in taxes and with the child tax credit, we get so much back. it is nice though. We are going to fund our vacation account some, our homeschool account, kids activities account and the EF, which will get the bulk of it, I am hoping for $2000 into that.
 
#22 ·
Hey Amy, my dad works for H&R Block, too! :) He does our return (we do pay for it, since we go through H&R Block to get the peace of mind guarantee). He's told us ours are just about done and we're probably looking at around $4,000 back. Ours will go for fully funding our emergency fund, increasing our health savings account, & probably a few little projects related to the house.
 
#23 ·
we are getting about 2600 back so we will pay of DHs 2 small cards, fund a trip to disney world for the summer (all cash vacations woo hoo) buy for a new bed, put some in the baby EF and the rest is going to a rainy day fund. maybe as a treat we will each get an outfit LOL
 
#24 ·
I'm hopeing to get mine e-filed sometime this week. I do them myself though and this year is the first year we've had a HSA so I'm having a little difficulty figureing that piece out. We're keeping our fingers crossed for 3500 or better. Originally it was all going to paying down the morgage while we continue to plug away at finishing up our EF. I've been REALLY frustrated at work though and am beginnning to wonder if I should just finish off the EF with it. (Sub-consious fear in this is that it would make it too easy to quit my job without truely thinking it through) Will probably stick with the original game-plan but option two is still a possibility until we send off the check.
 
#26 ·
I'm getting about $800 back. I was planning on paying down debt but the car repair I have been putting off needs to be done now. In fact, I'm calling around today for estimates on the repair. My Mother had to have the same repair done to her car and they charge her $840 for it. Hopefully I can find a place that will do mine a little cheaper. I'm going to call the place that gave me the $600 estimate and see if they will still do it for that amount.

At any rate, I mailed off my return last Monday so I figure I have a couple more weeks before I get my money back. Thankfully for the car repair I get paid on Friday and between what I was planning on snowballing and what I have in my EF I should be able to pay for the repair. It's just going to drain my EF and my snowball is going to be tiny this month. But at least, I'm not going to have to go into any more debt for it. :clap:

So 1/2 the refund will go towards refilling the EF and the rest I'm putting towards debt. I'm getting really impatient to pay off Household bank and start kicking Chase to the curb as those blood suckers are my highest interest rate card and keep jacking up the minimum and such.
 
#27 ·
We finally got our last W2 on Saturday, so we E-filed then. We are getting back $3107 Federal and $248 State for a total of $3355. We are using $2400 - 2900 to finish funding our freedom/sinking account for upcoming 2007 expenses (tuition in the fall, car registrations, baby stuff etc) and the remainder will probably go to a PS3. If we only have to fund $2400 out of that (depends how creative I can be at shuffling excess money between now and then) then we'll have a couple hundred left after the PS3 that we can use to get new cell phones. Our phones are absolutely falling apart. Mine just randomly turns itself off. It's excellent.
 
#28 ·
I still don't have all my W-2s (I work 7 places) and we are waiting on 1 for hubby. I am hoping we will get a nice refund. It will all go to debt except for $50 which will be for going out to eat to celebrate meeting our goal of not going out to eat at an expensive place (we have a weakness for steak and shrimp) for 6 months!
 
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