Thinking about my tax rebate money...

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celtic_dude

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So I am going to have a nice little chunk of change($500) from my tax refund and I am trying to think of possible purchases. I have recently went AG and thought maybe a grain mill would be a nice investment(150). I would like to be able to brew a few weeks without having to run out to my lhbs. I am hoping to start growing hops this summer but for now maybe stock up on my favorites for now and buy some sacks of grain($150). And maybe buy a few more cornies. I love how fast money burns wholes in my pockets. :)
 
A crusher would be a nice addition, because it's not that much, but will allow you to easily crush your bulk grain (saving you more money in the long run), and you can customize the crush to max your efficiency.

That leads to bulk grain! Get a couple of plastic tubs to keep it in, and it will keep for quite a while. Throw in a couple pounds of your favorite go-to hops and you can call it an investment, not a plurge!

Sounds good to me!
 
I would say that if you don't already have this, get a fridge a temperature controller and a fermwrap or the equivalent.

If you have that, yeah grain mill and bulk base malt is great for an all grain brewer and you will never have too many cornies.
 
Didn't think about a fridge. Hmm. Will have to add that to the list. Would make it a lot easier once I delve into lagering
 
Just wait till you buy a house...I think our refund is typically 3 or 4 grand.

Buy some gold. Or build a bunker and stock it with nonperishables. We're in for some bad times.
 
Actually I have a house, wife and kid so my refund is a little over 9k but we racked up a lot of credit debt when wife was out of work for 3 months last year.
 
I am putting 300 dollars towards hops and grain. I have a 40% off one-time use certificate for my LHBS, and I intend to use it.
 
Hey I have a house too! But I have to pay in $12000 a year. Stupid self-employment.:mad:
 
Just wait till you buy a house...I think our refund is typically 3 or 4 grand.

Buy some gold. Or build a bunker and stock it with nonperishables. We're in for some bad times.

+1... Soooo, true...

Brew up a storm now while you gots some $$$, and sit on it long enough to ride this out :mug:
 
+1 on the self employment tax. I pay in my quarterly taxes and at the end of the year the IRS always tell me to pay more. I don't think I have had a tax refund in atleast 10 years.
 
Ok on the first draft... est....I think I'll get a nice little return for the 2nd time EVER!!! WOOOOT... I don't have a clue as to how that happened... Normaly I owe and not in a smal way.

Alas it's already spent on parts for the Kegerator... :D:drunk:
 
My annual tax time soap box statement: If you're regularly getting $1k+ refunds, you're a schmuck giving the government an interest free loan. Get your **** together and adjust your w4.
 
+1. Get less taken away from your paycheck. 9000 divided into twelve months is another 750 dollars per month. ****, thats almost another mortgage payment.

Also +1 on self employment tax. I understand why I always get nailed at tax time, but still pisses me off.
 
My annual tax time soap box statement: If you're regularly getting $1k+ refunds, you're a schmuck giving the government an interest free loan. Get your **** together and adjust your w4.

I agree 100% but good luck convincing people that using the government as a christmas club is a bad idea.

However, even if someone is okay with loaning the government money interest free, what if the government didn't pay you back?

California to Issue IOUs for Income Tax Refunds, Might Nix CAL Grants for Students - Associated Content
 
Just wait till you buy a house...I think our refund is typically 3 or 4 grand.

Buy some gold. Or build a bunker and stock it with nonperishables. We're in for some bad times.

Not to mention that little one of yours coming. There's another grand. I get the first installment of that this year. Bout time the little one starts contributing! haha. I think he's buying us a fence for the backyard. Everything else goes into savings.

My annual tax time soap box statement: If you're regularly getting $1k+ refunds, you're a schmuck giving the government an interest free loan. Get your **** together and adjust your w4.


AS far as adjusting your taxes to just not pay in and get more each paycheck, that isn't necessarily the best option for everyone. Some people would then just budget for that extra money and really have nothing more to show for it. It is more responsible to realize you would do this and gain the lump sum at the end to put into savings, instead of fooling yourself to think you'd save it each paycheck, when you know you would not. Your style of living would just go up a little bit and your savings would see no benefit. I know I am in this boat.
 
My annual tax time soap box statement: If you're regularly getting $1k+ refunds, you're a schmuck giving the government an interest free loan. Get your **** together and adjust your w4.

Yep, I couldn't agree with you more...we older people know better...I write them a (small) check every year...:ban:...and get interest on what I don't give them. How much interest? Well, I earn at least 5K (in interest) every year on my (banked) cash...and keep most of that too...:rockin:


With a $500 rebate you are overpaying your taxes :mad: by:

500 / 12 = $41.67 per check
500 / 24 = $20.83
500 / 52 = $9.62

Then again Bobby, the American education system is designed to keep the masses ignorant of many life-lesson subjects...how to use their money wisely is just one of them.

One argument for overpaying is "I can't afford to pay the Gov't more". Well, that's not the case here. You're just paying up to the level you should have paid instead of overpaying and giving the Gov't an interest-free loan on your money. If you underpaid you could put that money to work by earning interest for you. The trick is to get as close to $0 dollars at the end of the year.

Getting a nice refund is some peoples way of enabling themselves to buy a "gift" (new couch, TV, etc.) for themselves.

Look at the news...do you ever hear about (rich) people getting a refund? No. They are always paying more. Why? Because they know the "secret" (NOTE: this is not really a secret!!) of underpaying and putting their money to work earning interest for them throughout the year.
 
My annual tax time soap box statement: If you're regularly getting $1k+ refunds, you're a schmuck giving the government an interest free loan. Get your **** together and adjust your w4.

BINGO...

I do all that I can to break even at tax time. Why? Um, interest free loans to a government that is going to waste it while they have it?

You are forfeiting the opportunity to INVEST that money ALL YEAR long?

When "most" people DO get that tax money back at the end of the year, they treat it as a gift, instead of stolen income. They spend it where they would NOT have if they had gotten back in thier weekly paycheck. Why?

Larger tax refunds, lead to more wasteful spending from my point of view. Not for all, but for many IMHO. If I get anything back, it is going to the market, I will continue to scrounge for my Barley Crusher.
 
What is this "rebate" you are refffering to? Is there another stipend in the works that I don't know about or are you referring to a tax year refund?

I rarely get refunds, when I do it usually only a couple hundred, thankfully I rarely owe anymore either.
 
You are forfeiting the opportunity to INVEST that money ALL YEAR long?

although with how things went this year, 0% return is pretty good! Yes, I know, I know, it's a great time to buy, but still just looking year-to-year this one wasn't a bad one to have the gov't keep my overspent tax money for 0% return come April.
 
although with how things went this year, 0% return is pretty good! Yes, I know, I know, it's a great time to buy, but still just looking year-to-year this one wasn't a bad one to have the gov't keep my overspent tax money for 0% return come April.


I disagree... it is a fact that only investing when the market is good, yields much lower returns than investing ALL the time. Like you said, it is was a great year to buy low. Those who buy low, and invest in a down market, will always benefit to a larger degree than those that do not.

When you get that money back, if you do invest it, chances are I invested at a much lower cost, and will have a much larger upside than you will... IMO
 
I disagree... it is a fact that only investing when the market is good, yields much lower returns than investing ALL the time. Like you said, it is was a great year to buy low. Those who buy low, and invest in a down market, will always benefit to a larger degree than those that do not.

When you get that money back, if you do invest it, chances are I invested at a much lower cost, and will have a much larger upside than you will... IMO

I agree :D

Although, I'm not disciplined enough to "save and invest" that $9.62 a week (assuming a $500 return). I'll take the one time $500 return and buy something fun. Yes, I know, poor money management, but it works for me...
 
I agree :D

Although, I'm not disciplined enough to "save and invest" that $9.62 a week (assuming a $500 return). I'll take the one time $500 return and buy something fun. Yes, I know, poor money management, but it works for me...

Oh, I am not necessarily referring to you... just in general. I see families in thousands of dollars of CC debt that get $3000 tax returns and SPEND IT. No, not on paying off debt, but on "stuff". And now they are waiting for the govt. to help them out with thier mortgage... WTF.
 
I pay off my CC bills with it and save the rest. I may treat myself to a #55 of Maris or Pilsner and # or 3 of hops. IT actually feels good to live within your means:)
 
I pay off my CC bills with it and save the rest. I may treat myself to a #55 of Maris or Pilsner and # or 3 of hops. IT actually feels good to live within your means:)

Kudos to you, wish I had neighbors like you
 
I pay off my CC bills with it and save the rest. I may treat myself to a #55 of Maris or Pilsner and # or 3 of hops. IT actually feels good to live within your means:)

Living within your means is the key...well, that and saving...;)

And the other poster is right...a refund check is not a gift...it's your own money given back to you without interest. Take back you money and earn the interest for yourself and your families.

They say "everyone is always trying to keep up with the Jones'", but don't realize the Jones' are in debt up to their wazoo's.

If everyone paid off their CC debts and lived within their means our economy would not be the way it is.

Thanks to the thieves and greedy bastards on Wall St...I think they should all jump out the window...:D
 
I have to say I am changing my mind after reading the threads since my post. You all make wonderful sense. Also Thank you HomeBrewer_99 for the PM you sent.
I understand the obvious benefits of living within your means and even tight temporarily to pay off all your debt. It just comes down to having the discipline to do so and I am working on that.
 
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