Income Tax Refunds

[tulip]

It will go towards a new roof. There will be no leftovers. The roof cannot be put off any longer.

[TsPoet]

If I get any back, it will go toward a velomobile.

[Catrin]

It went into savings...and will come back out to help pay for personal training and my LHT.

[Melalvai]

We got back everything we paid and then some more! I was very surprised, and I didn't believe it for a while. It's because my husband is in school. I sent $100 to each of my two charities (Missouri Bicycle Federation and the National Postdoctoral Association) and the rest is going toward his student loans.

This is an interesting thread to compare to another one that ran a few years ago. I think Bush was in office then and we got some economic stimulus money (it wasn't an Obama original idea you know). Back then, we said we were paying down debt or putting it in savings. Neither activity stimulates the economy. This time around it sounds like we are spending our windfall more than saving it.

Of course what TE'ers do doesn't necessarily reflect what the rest of the nation does!

[Veronica]

I'm thrilled that we managed to come out pretty much even. The Fed owed us a little. We owed CA a little.

Last year we got a huge return and bought a new to us bike hauler. Since it's a 4 wheel drive SUV, we're able to plan our own trip to the North Rim for mountain biking this summer instead of going with a tour company.

Veronica

[bmccasland]

I haven't even started

But I have a wish list, mostly having to do with kitchen renovations - new counter tops, refurb my existing cupboards, new refrig. Depending on the amount of refund, if any will depend on what I get to do. Then there is saving for a vacation that involves flying out of here, thus requiring boarding the furry beasts.

[NoNo]

Sometimes I feel like I should pay to have someone do my taxes because I hear people talk about getting huge returns back and I wonder what I'm doing wrong, like I'm missing out on some deductions. At any rate, I should get a few hundred back, which will be going straight into savings. This is a huge change over the past few years when it went straight to paying off credit cards. Oh the joy of not having those dumb cards weighing me down. I'm hoping to get back to Italy this summer, but I'm not sure if I'll be able to save up enough. If that doesn't work, I'm thinking a kayak and rack for my car so I can make my own trips

[limewave]

If we get any back, which I don't think we are, it will go to paying debt.

Our salaries are still reduced, thanks to the crummy economy. We owe my parents a chunk of change (I NEVER thought I'd have to borrow money from them) and they've asked us to make good on it by May.

And our washing machine died just before Christmas. We did a 6 mos same as cash deal as we had no $$, so we need to somehow pay that off.

I'm just crossing my fingers we won't owe the government more $$ too.

[TsPoet]

Sometimes I feel like I should pay to have someone do my taxes because I hear people talk about getting huge returns back and I wonder what I'm doing wrong, like I'm missing out on some deductions. At any rate, I should get a few hundred back, which will b

I think that means you are doing it right. Tax refunds mean you've been letting the gov't hold onto your money.