• The site migration is complete! Hopefully everything transferred properly from the multiple decades old software we were using before. If you notice any issues please let me know, thanks! Also, I'm still working on things like chatbox, etc so hopefully those will be working in the next week or two.

What Are you doing with Tax Returns?

B

benner

New member
The thread about fixing tail lights with Return money got me thinking. What all are you guys using your tax return money for?

I purposely put an extra $5 a week into my taxes so I'd get a larger return so I didn't have to try and save the money myself. I'm thinking Speed Daddy Headers, new oil pan, and possible cam swap depending on how much it adds up to.
 


the whole thing is going towards the engagement ring i just bought.

anything left over (doubtful) will go into tires for my 19s and drop springs. then ill be ready to kill 'em in the summer.
 
should be gettin a grand back, but how i spend my tax return all depends on if i get my back pay from work.

if i do get my pay: intercooler

if i don't get it: savings

sucks gettin older eh?
 
Finish up the suspension on the Balt...

pay off a credit line I have...

other than that...keep saving for a house? I'm kinda boring.
 


pry end up going to daisy dukes in quad cities. its a yearly tradition is seems anymore. or vegas, who knows.

and ill use it to pay bills and help with the iowa trip this may. maybe some more boost.
 
Bio248 said:
the whole thing is going towards the engagement ring i just bought.
Click to expand...

Went shopping the other day. I'm saving up for this **** too. Although she ...on her own said "you think you got it bad, I have to buy you a new lawn tractor with snow blower attachment".


:) Yup..I'll buy her a ring. While it's not even half the cost, that mention of a tractor etc is an amazing thing for a woman.
 


As I said in the other thread, I pay my taxes and nothing more.. Therefore no return for me. Why overpay and give the government an interest free loan?
If I want to save money I'll save money not overpay my taxes because I don't have the will to save on my own.
 
codyAK said:
As I said in the other thread, I pay my taxes and nothing more.. Therefore no return for me. Why overpay and give the government an interest free loan?
If I want to save money I'll save money not overpay my taxes because I don't have the will to save on my own.
Click to expand...

so by your thought process your doing it wrong. you should pay more, therefore saving more inadvertantly because youre giving more to the government and getting it back in one chunk early the next year. hm..
 


Bio248 said:
so by your thought process your doing it wrong. you should pay more, therefore saving more inadvertantly because youre giving more to the government and getting it back in one chunk early the next year. hm..
Click to expand...

or you could have the money and invest.

save MORE money.
 
Bio248 said:
so by your thought process your doing it wrong. you should pay more, therefore saving more inadvertantly because youre giving more to the government and getting it back in one chunk early the next year. hm..
Click to expand...

I have no need to inadvertently save money.
Your aim should be to owe nothing, but also to receive nothing back. If you are getting money back it means you payed too much in the first place.
No matter what you use your refund on, you would be better off not overpaying and instead having the money in each paycheck. If you put your refund into savings, you would be better off putting the extra money into an interest earning account each month. If you use it to pay off debt, you could have used the money to not accrue the debt(and pay ridiculous interest charges) in the first place. If it's used to pay outstanding debt you could have been paying it each month. If you put it towards a big purchase, you could have put the money into savings each month and earned interest on it instead.


I see no advantage to overpaying your taxes.
 
the only advantage i have is that i dont have to pay taxes. i just claim zero and let it ride. i guess i dont care that much because i make enough to make ends meet, regardless how much they take out.
 
You must log in or register to reply here.
Back
Top