Income Taxes - What\'cha gettin\'?

[Living-In-Clip]

Alright, it\'s almost that time of the year. Filing your income taxes, what is your plan with what you get back (provided you get something back).

We\'re goin\' to pay a few bills off, buy the girls some stuff and I\'ll probably pick up a wireless MediaLounge.
The rest will go back in savings.

What\'s your plans?

If your tax refund is large enough that you can buy computer hardware AND contribute to savings, maybe you need to think about reducing your withholding.

going to Tahoe for three nights w/ my girlfriend, and the rest goes into the bank.

[Living-In-Clip]

Originally posted by Coredweller
If your tax refund is large enough that you can buy computer hardware AND contribute to savings, maybe you need to think about reducing your withholding.

Not really. I won\'t get all that much back. The fiance will get more back, due to the fact she can claim both kids not to mention low income as she was off work due to being pregnant for four months. I usually get around $200 or so back and then always have to pay the state.

:d

[CHIZZY]

I definitely need to reduce my witholding. I got $2,517 back from tha feds. Though it\'s hard to calculate, \'cos a large part of my salary comes from a profit-sharing bonus. I get it in Jan-Feb, so they over-tax it to play it safe. Like for instance I got a distribution last week for $20k. The check I deposited was for $12,750....same sorta thing happened last year. I also have them take out an extra $20 a week, a remnant from days gone by when I was terrible at saving money. Kind of like a savings account that I couldn\'t rape & pillage for electronic gadgets. I\'ll probably get rid of that with the kid on the way.

I don\'t get shit...

What I do get is going towards a credit card blanace.

[CHIZZY]

No cc balance here.... I guess I\'m part of the .0001% of America in THAT boat....

[Living-In-Clip]

I got a $500 dollar balance. I\'ll pay towards that and be done with it. Have that and one other bill, which we\'ll pay off completely. We\'re hopin\' to get all the bills paid off that way we can eventually start lookin\' for a house.

[GmanJoe]

I like my witholdings at 1. Coz I\'d end up spending all that extra cash anyway. Might as well force me to budget and have my employer to withold it and get it back later.

My CC balance isnt horrible, but I wana get it done with.


I\'m sure there are people in much worse debt than I am... It still bothers me though.


I don\'t mind having a balance on my car or a house or something like that, but the fact that I\'m still paying interest on Final Fantasy 10 pisses me off.

[Living-In-Clip]

Originally posted by Luke
My CC balance isnt horrible, but I wana get it done with.


I\'m sure there are people in much worse debt than I am... It still bothers me though.


I don\'t mind having a balance on my car or a house or something like that, but the fact that I\'m still paying interest on Final Fantasy 10 pisses me off.

heh, Know the feelin\'. I don\'t mind my car payment, but knowing that the debt on credit card was for a videocard and some other stuff is insane.

Oh man my balance is horrible and I know it.  My credit is awesome though so I really don\'t mind having it.  I make my payments on time every month.

[Kurt Angle]

We don\'t have to do any of this over here, tax is taken every month from our wages, no forms to fill in .

[Living-In-Clip]

/use to make payments on time. I somehow quit doin\' that, not sure what happened. I\'ve only got three debts, car payment, credit card and one other thing. Make payments on time on all of them \'cept the credit card oddly enough. Go figure. I\'ll just go ahead and pay two of those off and that will just leave me with the car.

How about having nothing withheld for Federal taxes?  I do this and would rather pay a few hundred dollars in March than have the government earn interest off of my money.