What're you gonna do with your tax refund?

[golftdibrad]

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.

[Tkulhanc134]

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

or put it on bank

[nkenyon]

Originally Posted by chilipepper

If you are getting a refund, you are doing it wrong.

You are correct sir.

Originally Posted by jay745

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

This is kinda now I look at mine too.

Originally Posted by rawbdog

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.

I always debate changing mine to 1, but honestly like rawbdog said I wouldn't really notice the extra 50 a check.

[rs999]

Originally Posted by Ganiman

x2

I get a tax bill every year for both state and federal, but then again I don't give anyone interest free loans of my money

[abalinka]

Buy a new fence. I'm tingling with anticipation.

[XGC75]

Originally Posted by D Griff

Pay off debt... student loans

This.

I bought a house last FY, got married the year before. Maxing out the student loan interest deduction makes tax time fun.

[Rotaryknight]

Originally Posted by GunKata

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

Yep this is a nice help.

Hmmm last year was the first year I ever got a return since it was a slower than usual. This year I'll actually get some back too........

DD tires. Probably another set of Hankook V12. Possibly Ed's lights or used oem. I hate the surprised look of the halogens.

[AnchorsAweigh]

New clutch, didn't deploy last year so won't be getting a big one :/

[Blaylock1988]

If you want to optimize your income, the best is to owe exactly 0. The sooner you can get money into the bank/savings, the more you will make in interest. As opposed to the govt holding onto your money for up to a year and you not making interest on up to thousands.

I am young and haven't been able to balance it out yet myself.

[GunKata]

Originally Posted by abalinka

Buy a new fence. I'm tingling with anticipation.

dat fence.

Originally Posted by XGC75

This.

I bought a house last FY, got married the year before. Maxing out the student loan interest deduction makes tax time fun.

word.

Originally Posted by Rotaryknight

Yep this is a nice help.

Hmmm last year was the first year I ever got a return since it was a slower than usual. This year I'll actually get some back too........

DD tires. Probably another set of Hankook V12. Possibly Ed's lights or used oem. I hate the surprised look of the halogens.

Get the Sumitomo HTR ZIII's over the V12's

Originally Posted by Blaylock1988

If you want to optimize your income, the best is to owe exactly 0. The sooner you can get money into the bank/savings, the more you will make in interest. As opposed to the govt holding onto your money for up to a year and you not making interest on up to thousands.

I am young and haven't been able to balance it out yet myself.

agreed in theory, but it's even harder with a mortgage and other deductions.. I've been trying to get more per pay period than a bigger refund, but it barely works.. i think its becos our deductions are so large, so we always get a fairly decent return.

[asiantrick]

Tax refund ...lol what's that? Every year I have to pay a shit load back to uncle sam from all my capital assets.

[miguelr]

Originally Posted by chilipepper

If you are getting a refund, you are doing it wrong.

yep, stop giving interest free loans to the government.

[nouse4aname]

Yeah having a refund is "forced savings"...with a negative interest rate thanks to inflation.

[BoostedVW11]

I have them withhold so not to go crazy on personal spending throughout the year. Always been a bigger saver anyways, however its nice to think you have less money than you actually have. Refunds are always like a late yearly work bonus to me...but now that you put it in terms of interest free loans to the government.