What are you spending your tax refund on? - Page 2 - Home Brew Forums
Register Now For Free!

Home Brew Forums > Home Brewing Beer > General Beer Discussion > What are you spending your tax refund on?

Reply
 
Thread Tools
Old 03-19-2011, 02:01 PM   #11
motobrewer
I'm no atheist scientist, but...
HBT_SUPPORTER.png
Recipes 
 
Oct 2009
Thiensville, Wisconsin
Posts: 8,308
Liked 498 Times on 386 Posts


Quote:
Originally Posted by Yooper View Post
That's where I'm at too. Since my kids grew up at about the same time (one was still my dependent in college), I went from two dependents, with college expenses in 2009, to just the two of us in 2010. Bob is retired, but I worked part-time most of the yeast last year. We got HAMMERED in taxes, even with a substantially lower income. We just paid the taxes. Ouch.
i'm on the opposite end, just had our 2nd and my wife took a lot of classes this year. i forgot how huge of a credit tuition is! this is also our first full year paying mortgage interest. daycare expenses are also a nice deduction.

long story short, i tried to plan it so we'd be zero but i failed miserably. not a terrible thing i guess
__________________
Quote:
The man who intoxicates himself on bad whisky is sometimes moved to kill his wife and set his house on fire, but the victim of applejack is capable of blowing up a whole town with dynamite and of reciting original poetry to every surviving inhabitant.

"A Wicked Beverage," New York Times, April 10, 1894

 
Reply With Quote
Old 03-19-2011, 02:01 PM   #12
beergolf
HBT_SUPPORTER.png
 
beergolf's Avatar
Recipes 
 
Jan 2011
collingswood, nj
Posts: 5,981
Liked 1196 Times on 815 Posts


Quote:
Originally Posted by Poobah58 View Post
What's a tax refund?

The same question for me?

I usually end up pqaying

 
Reply With Quote
Old 03-19-2011, 02:02 PM   #13
wonderbread23
 
wonderbread23's Avatar
Recipes 
 
Apr 2009
Brooklyn
Posts: 1,047
Liked 43 Times on 39 Posts


Everything I'm getting back is going right back to the Fed via Q1 estimated quarterly taxes (yea).

 
Reply With Quote
Old 03-19-2011, 02:03 PM   #14
Mutilated1
Beer Drenched Executioner
HBT_LIFETIMESUPPORTER.png
 
Mutilated1's Avatar
Recipes 
 
Jul 2007
Hoover, Alabama USA, Alabama
Posts: 2,150
Liked 39 Times on 27 Posts


I going to give as little of it as possible to my exwife, and use the rest to pay bills, buy clothes for the kids, maybe buy the kids a bike or something if I have enough left

 
Reply With Quote
Old 03-19-2011, 02:06 PM   #15
zac
Thread Killer
HBT_LIFETIMESUPPORTER.png
 
zac's Avatar
Recipes 
 
Dec 2007
Marion. Va
Posts: 3,757
Liked 153 Times on 150 Posts


Why do you get a refund anyways? Its YOUR money, YOU gave it to the gov't & they mismanaged it for a whole year, then gave it back to yuh.

I owed quite a bit this year b/c I made some great returns on a few investments, but I knew about it ahead of time, so I had the money saved back!

 
Reply With Quote
Old 03-19-2011, 02:23 PM   #16
jcalisi
Recipes 
 
Jan 2009
Mount Juliet, TN
Posts: 176
Liked 3 Times on 3 Posts


I went to get my refund and Cesar asked for more...

 
Reply With Quote
Old 03-19-2011, 02:31 PM   #17
tekknoschtev
Recipes 
 
Jun 2007
Lansing, MI
Posts: 157
Liked 1 Times on 1 Posts


I got more of a refund than I was anticipating, but that's due solely to how my company paid out bonuses last year. I don't expect that to happen this year seeing as... well... our bonuses were much smaller or non existent.

For me, the money is going into two savings accounts - one for my emergency fund, and one is saving for a house. I might siphon out a few bucks to pay for another bag of 2-row, but otherwise its all going to be saved or used to work toward paying off my car.

 
Reply With Quote
Old 03-19-2011, 02:35 PM   #18
crash1292
 
crash1292's Avatar
Recipes 
 
Oct 2010
milwaukee
Posts: 248
Liked 30 Times on 16 Posts


after paying taxes on my unemployment...zip zero nada
whos idea was it to tax the unemployed anyway

 
Reply With Quote
Old 03-19-2011, 02:41 PM   #19
Darwin18
 
Darwin18's Avatar
Recipes 
 
Nov 2008
Garner, NC
Posts: 5,339
Liked 952 Times on 668 Posts


Paid down the credit card and put the other half away for my wedding next year. Fun.
__________________
BJCP #F0684 - Certified

 
Reply With Quote
Old 03-19-2011, 03:59 PM   #20
remilard
Recipes 
 
Nov 2008
Kansas City
Posts: 3,654
Liked 43 Times on 41 Posts


Quote:
Originally Posted by zac View Post
Why do you get a refund anyways? Its YOUR money, YOU gave it to the gov't & they mismanaged it for a whole year, then gave it back to yuh.

I owed quite a bit this year b/c I made some great returns on a few investments, but I knew about it ahead of time, so I had the money saved back!
W2 employees with variable compensation can't predict how much to withhold since their bonus will be taxed at 38%, probably higher than their marginal rate.

In my case I decided to install a ground source heat pump in December which triggers a 30% tax credit with no cap. So while I typically would like to not get a refund, I did get a very large one this year.

If I had zero variable compensation I could and would be extremely close to 0 owed (either way) at the end of the year.

 
Reply With Quote
Reply
Thread Tools


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tax refund peachwein General Beer Discussion 36 05-07-2010 12:10 PM
Alleged Economic Stimulus/Refund DaleJ General Beer Discussion 38 01-30-2008 03:21 AM


Forum Jump