What are your plans with tax return money?

TJay74 · February 16, 2015

DINK here as well, and after this weekend to find out we made slightly less than last year while putting more into our 401k and ended up owing $171 to the feds and getting $110 back from the state. End result will almost be a wash.

JaBradt85 · February 16, 2015

I guess I'm stupid but, how do you not get a tax return?

NitroCherokee · February 16, 2015

I guess I'm stupid but, how do you not get a tax return?

Set up your with holdings to be about exactly right. For example I am married with 4 kids and I claim married 1 all year, so what they take out of my check is lower than say claiming Single 0. If I was to claim Single 0 I would way over pay every check and end up with a refund............. Bout clear as mud

desrtrat · February 16, 2015

I guess I'm stupid but, how do you not get a tax return?

don't file a return..with my LOW taxable income, i file about every 2-3 years, and maybe get about $200 total from feds, state..my net income is probably less than than what most people's annual deductions are..

FuelHauler87 · February 16, 2015

I here ya. Being DINKS does have a down side. But what the hell we are both young. Bringing in a good chunk of change. Sooner or later it might not be so horrible at tax time.

desrtrat · February 17, 2015

But what the hell we are both young.

if you were talking to me...i'll be 61 in April..

FuelHauler87 · February 17, 2015

if you were talking to me...i'll be 61 in April..

Lol well you don't want to know how old the wife and i are then

jasonvp · February 17, 2015

I'm with the folks that ask, "What refund?" I usually owe Uncle Sugar a grand or so every April and I'm expecting this year to be the same. I'm not keen on the 0% interest loan thing.

Jwhite409 · March 1, 2015

I'm thinking about picking up a dynomax exhaust and a new set of mirrors?

darkfox1 · March 1, 2015

I guess I'm a "SINK"

I've already spent all of my tax return money..

adding foglights to my truck

adding center console to my truck,

adding factory 20 repros from OE wheels to my truck

and getting my golfcart working.

Other items on the agenda that may yet happen include a new battery backup for my computer, a paper shredder, and a new rear main seal for my old project car that leaks like a tap.

Initially planned items that didn't make the cut:

adding the 8" touch screen radio to my truck (later.. still planned.)

adding remote start to my truck (later)

putting tires on those 20s I bought (6 months)

rigid dually LED flood lights on the golfcart (later)

projector beam headlights for the truck (scrapped plan, may come back to.. not in a hurry.)

buying a 73-87 project truck, and/or 88-98 project truck (must do this one day)

DougOhio · March 1, 2015

I end up paying every year. Usually several thou. DINK is kickin our butt. But, we're making incomes better'n I ever thought we would. I do get a good sized bonus in a month, but it's offset by the taxes we end up paying.

Just a thought so take it for what it's worth...but why not give that several thousand dollars to a worthy charity? You are going to "lose" the money anyway right? There are hundreds of organizations that would bend over backward to prove to you their worthiness for a couple thousand dollars. You might want to consult a certified financial advisor on how to best do that as a tax-avoidance strategy.

ChevyMan23 · March 2, 2015

I purchased a Smith&Wesson M&P 15 Sport 5.56 with some of my refund. I can't wait to put some rounds through it.

crafferty · March 2, 2015

It's official I just spent my tax refund on my truck. We can either say I spent it on the wheels and tires or just the lift. Either way it's gone and I can't wait for my goodies to arrive.