How much are you getting back and what will you spend it on?

[Trey22]

Paid over $1600 to the state... got back $186 from fed ($100 to a friend who got married, $40 for me, $46 into checking).

 

[jlee]

Already spent...truck repair/maintenance.

 

[DrPizza]

6k back... used a couple on property taxes. (The government returneth what belonged to me, and the government taketh it back away.)
Bought some goats and stuff for the house, and finished paying off the dirtbikes we bought for the kids.

 

[Queasy]

Originally posted by: GeneValgene

Originally posted by: Queasy

Originally posted by: GeneValgene

Originally posted by: Queasy

Originally posted by: Specop 007
I dont think you should be allowed to pay in throughout the year. You should pay in nothing over the year and have to pay your due in April.

Why?

People get excited to get their refunds. They forget that its their money to begin with.
If everyone didnt pay in throughout the year and got hit with a bill every year they might wake up a bit and pay more attention to what their taxes are used for hold their politicians feet to the fire in regards to the tax rates.

That's part of the reason I support the Fair Tax. No more shell games and everyone is aware exactly how much money they are forking over to the federal gov't.

is this the same thing taht steve forbes was pushign when he ran for president?

No. That was the Flat Tax - still a tax on income. The Fair Tax is a retail sales tax.

ah ok...interesting. sorry about that...just started reading the link.

The Fair Tax book is coming out on paperback May 2nd. Enjoyable read as far as tax policies goes and they supposedly expounded on somethings from the hardcover.

 

[nageov3t]

I got back $1000 from federal taxes and about $300 from state taxes... I put both towards my car insurance, which is about $1,600 for the year.

 

[EvilYoda]

$1000 back altogether...and it's being exchanged for a cheap 32" LCD TV.

 

[venk]

Originally posted by: EvilYoda
$1000 back altogether...and it's being exchanged for a cheap 32" LCD TV.

get the Emprex 37" from outpost $999 + $45 shipping and it's got some good feedback on avsforum.

 

[AntaresVI]

$208 back from the feds, i owe $45 to PA and $61 to my town (where i live for three months out of the year, ugh). The balance is going to car payments.

 

[cKGunslinger]

Wait, if you had a refund coming back, W(hy)TF are you just now filing your taxes? 😕

I can understand postponing making payments until April 15th, but who the hell sits around and thinks "Well, I got a couple hundred/thousand coming back to me from the government - I think I'll just let them sit on it for a few more months"??

 

[Engineer]

Got back : Too much (even though I adjusted to 8 dependants last year) *sigh*

Used: Replenished some of my savings (that I used to pay off my house and car)

 

[Specop 007]

Originally posted by: GeneValgene

Originally posted by: Specop 007
I dont think you should be allowed to pay in throughout the year. You should pay in nothing over the year and have to pay your due in April.

Why?

People get excited to get their refunds. They forget that its their money to begin with.
If everyone didnt pay in throughout the year and got hit with a bill every year they might wake up a bit and pay more attention to what their taxes are used for hold their politicians feet to the fire in regards to the tax rates.

EXACTLY...people shouldn't be excited about refunds. if you have too big of a refund, that means you lost money, and didn't manage your money well the previous year

that's a great point you made...i think if they made people pay at the end of the year, people would be much more conscious of where there tax dollars are going.

See?! I have a good idea ONCE in a while! 😉

 

[cpals]

I owed $1200 🙁

 

[EyeMWing]

Less than $50, and I'll drop that into the lottery pool between my friends and I. Seriously.

 

[DrPizza]

Originally posted by: Specop 007

Originally posted by: GeneValgene

Originally posted by: Specop 007
I dont think you should be allowed to pay in throughout the year. You should pay in nothing over the year and have to pay your due in April.

Why?

People get excited to get their refunds. They forget that its their money to begin with.
If everyone didnt pay in throughout the year and got hit with a bill every year they might wake up a bit and pay more attention to what their taxes are used for hold their politicians feet to the fire in regards to the tax rates.

EXACTLY...people shouldn't be excited about refunds. if you have too big of a refund, that means you lost money, and didn't manage your money well the previous year

that's a great point you made...i think if they made people pay at the end of the year, people would be much more conscious of where there tax dollars are going.

See?! I have a good idea ONCE in a while! 😉

Seriously, though, it isn't *that* big of a difference...
Let's say someone overpaid $2000 during the year.
Put that in the bank instead and earn interest on it instead...
Now, remember, it's not 2000 in the bank for a year; it's a little more every other week.
For simplicity's sake (and because I don't want to grab the calculator), we'll round it off to an average balance of $1000 for the year. What kind of interest does a savings account pay these days? 2%? 3%? So, that's $20 or $30 you missed out on. Big deal. I certainly wouldn't call getting a huge return as meaning you did a poor job with managing your money.

 

[luckysnafu]

Paid the federal gov over $350 and I'm getting $45 back from the state...I hate our tax system. We need Fairtax