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What're you gonna do with your tax refund?

rawbdog

rawbdog

Go Kart Champion
gona save that betch for that F23. then be broke because i will be fillng up all the time :laugh:
 
jay745

jay745

What Would Glenn Danzig Do
Clearly I know I could adjust my dependents and probably get close to $0 but why not, For the extra $50 or so that I'd get back on each pay check throughout the year that I wouldn't even notice. I'd rather get a large check at the end of the year, it makes it feel like free money to me or rather a forced savings account that I wouldn't likely do on my own
 
rawbdog

rawbdog

Go Kart Champion
maxtdi said:
No this shit again... ima get nothin back per usual :(
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then that means you are doing it right, no?

i claim 0, but i feel like i should at least claim 1 or something. i would like to get more of my paycheck.
 
Gunkata

Gunkata

Drag Race Newbie
track/summer tires.. maybe wheels too. other than that, all bills, Honda Odyssey maintenance ($$$)... maybe a 2015 WRX, who knows :lol:
 
sethdude

sethdude

Pobody's Nerfect.
nouse4aname said:
401k contributions are pre-tax. So...yes? Reduces your taxable income but that doesn't mean you get a refund. Refund is an overpayment of taxes throughout the year and you should adjust withholdings to minimize that.
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^This. And I'm a government employee, so no 401K. I have a pension and an "employee savings plan" that contributes as much as $25 per month to my savings. No thanks, I'll invest that money in other, much more profitable ventures.
 
mattdibart

mattdibart

Go Kart Champion
nouse4aname said:
401k contributions are pre-tax. So...yes? Reduces your taxable income but that doesn't mean you get a refund. Refund is an overpayment of taxes throughout the year and you should adjust withholdings to minimize that.
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Ya you could adjust your taxes if you know the set amount you will contributing but if I have extra money in savings at the end of the year I will dump a bunch more into my RRSP and get a return. If you are going to give a set amount and you know you will be giving that exact amount then you could adjust throughout the year I guess.
 
aimalick

aimalick

Ready to race!
bought a house last year, going to get a nice chunk of money back for that.. but unfortunately a child is on the way, so the refund goes to savings for when the lady is off work for a couple months. The life of spending a tax refund like lottery winnings is sadly over :(
 
Gunkata

Gunkata

Drag Race Newbie
yep, 401k , Roth IRA, health coverage, all that shit can affect your taxable income, good or bad, depending on how you do it.


And yes, the mortgage interest deduction is a huge helper come return time. As can property taxes.
 
golftdibrad

golftdibrad

Go Kart Champion
Depending on size....
extra set of wheels and tires

and either GTI goodies or a KART

at least one small gun (sr22?)

rest debt/savings

I get lots extra taken out so i have a juicy refund....nothing worst than owing the bastards money at the end of they year.
 
Tk_mkv1

Tk_mkv1

Go Kart Champion
either an eurojet fmic, stage 1, cts turbo catback w/e i haven't got yet on car

or put it on bank
 
nakenyon

nakenyon

Go Kart Champion
chilipepper said:
If you are getting a refund, you are doing it wrong.
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You are correct sir.

jay745 said:
Clearly I know I could adjust my dependents and probably get close to $0 but why not, For the extra $50 or so that I'd get back on each pay check throughout the year that I wouldn't even notice. I'd rather get a large check at the end of the year, it makes it feel like free money to me or rather a forced savings account that I wouldn't likely do on my own
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This is kinda now I look at mine too.

rawbdog said:
then that means you are doing it right, no?



i claim 0, but i feel like i should at least claim 1 or something. i would like to get more of my paycheck.
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I always debate changing mine to 1, but honestly like rawbdog said I wouldn't really notice the extra 50 a check.
 
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