Thread: What Are you doing with Tax Returns?

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?

Damn I didn't even think about springs. That may be an option as well.

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.

whats a tax return

hopefully l.e.d tails and and then also pay some bills

paying off my car (cant wait)

and getting the rest of the parts for my engine build

Originally Posted by Bio248

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

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.

i didnt get anything in return except for her to stop asking about it. it was enough for me.

Screw tax returns, they take out enough to feed a homeless country and give me back enough to get some dog food.

Originally Posted by 2001goldGTP

hopefully l.e.d tails and and then also pay some bills

Thats what im doing!! I was thinking about getting them from DashZ but they charge 225 i can get them on Ebay for 150!

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.

Originally Posted by codyAK

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.

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..

If i have it in the bank most likely it will get spent. Im a college student limited funds :P

Originally Posted by Bio248

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..

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.