Income Tax

**graci42** · 02-13-2006, 12:32 PM

Dh did taxes over the weekend and we are going to use part of our refund to purchase a woodburning stove. This will alliviate our dependancy on natural gas and drop utility bills greatly.

I won't need to use the clothes dryer as often either. With the overall savings created by the woodburner we will be able to begin repairs on our home. It needs gutters and a few windows replaced. Eventually we'ld like to put up vinyl siding...one step at a time!

I'm doing the happy dance because this will take so much stress off of dh's shoulders!

Most importantly, we'll be spending less, saving more and becoming debt free...now I need to sit down and work out a detailed plan!

Talk soon,
Graci

**ecgsmama** · 02-13-2006, 02:24 PM

It has saved us a ton of money...not only does it heat our home, it dries almost all of my laundry in just one weekend. My garage (bottom floor of house and where the woodstove is) looks like a tornado hit it on the weekends - I hang everything but socks and underwear to dry. It costs nothing but my time and energy and it puts a little extra moisture throughout the house, which helps my dry skin.

Also, was reading over the weekend about tax breaks for choosing energy efficient upgrades to your home in 2006 and 2007. We too are using a little of our tax refund to put in new windows on the first floor (log home, worried about rot). In 2006 we'll be able to deduct 10% up to $200 of this cost off our taxes. This is a "after the line" deduction like the child tax credit and childcare and dependent expenses. So we'll get our money back twice - yippee!

**FrugalMomof3** · 02-13-2006, 02:29 PM

Glad you are able to do all those things with your refund, WTG!

Our refund came and went but we paid off 80% of our credit cards so we are happy about that.

~Tracy~

**santoria** · 02-13-2006, 03:01 PM

I would love to get a woodstove and the burner transfer system for our new house but that'll have to wait a bit.

We haven't done our taxes yet. gotta get that done!

congrats!