kirks5oh Posted January 15, 2010 Report Share Posted January 15, 2010 I have 3 kids, married, work alot of overtime and I have them take the most out possible. I dont mind the govt holding my money for me. I found it odd that people do and then wonder why I have that much money all of a sudden in the bank. If I took it each week it would be very little and would just get mixed into the houshold spending. However when its a lump sum, I spend it very slowly and it lasts all year and usually into the next year. Which helps it get larger each and every year. +1 if i get a huge lump sum every year, i am more likely to put away just about all of it. not sure how much i'll get this year, with starting a new job, but hopefully it will be nice Quote Link to comment Share on other sites More sharing options...
Flyin Miata Posted January 15, 2010 Report Share Posted January 15, 2010 Considering what I get back will probably be more than what I currently have saved... it'll all be going straight into savings. Which will eventually be withdrawn because I don't work enough. Quote Link to comment Share on other sites More sharing options...
Alex1647545498 Posted January 15, 2010 Report Share Posted January 15, 2010 Pay off a car then see how much is left over. Quote Link to comment Share on other sites More sharing options...
gillbot Posted January 15, 2010 Report Share Posted January 15, 2010 !debt nothing fun. Quote Link to comment Share on other sites More sharing options...
Patrick Posted January 15, 2010 Report Share Posted January 15, 2010 I couldn't say until I know how much I'd get back. Probably would go straight into the Camaro, save a bit for some new suspension on the RX7. Quote Link to comment Share on other sites More sharing options...
smokin5s Posted January 15, 2010 Report Share Posted January 15, 2010 bills... maybe might put up a fence with some of it, but the biggest part is paying off debt. Quote Link to comment Share on other sites More sharing options...
morabu Posted January 15, 2010 Report Share Posted January 15, 2010 debt! and a trip to Mexico this summer for my friends wedding Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 15, 2010 Report Share Posted January 15, 2010 thinking about it more today, i figured it'd be good to put it into my savings for my best friends bachelor party in vegas this summer, then today i talked to him and he said no vegas, and its staying in pittsburgh. FAIL. Quote Link to comment Share on other sites More sharing options...
HotCarl Posted January 16, 2010 Report Share Posted January 16, 2010 I have 3 kids, married, work alot of overtime and I have them take the most out possible. I dont mind the govt holding my money for me. I found it odd that people do and then wonder why I have that much money all of a sudden in the bank. If I took it each week it would be very little and would just get mixed into the houshold spending. However when its a lump sum, I spend it very slowly and it lasts all year and usually into the next year. Which helps it get larger each and every year. Interesting the only other person Ive heard of getting that much made most of his earning's under the table and claimed 4 dependants on top of that. I think one year his return was as high as 12k. Of course they are fucking horrible with money and blew it all in less than a month. Quote Link to comment Share on other sites More sharing options...
Bam Posted January 16, 2010 Report Share Posted January 16, 2010 ^^^It's pretty easy. I think the child tax credit is $3200/each, I know that I get damn close to that back for my daughter, so w/ 3 kids and married, I'm sure its possible. Oh, and this year it's all savings, hoping to take a big vacation this fall! Quote Link to comment Share on other sites More sharing options...
Buck531 Posted January 16, 2010 Report Share Posted January 16, 2010 http://wease.net/pics/clap2.gif You and me both. Why give them more money during the year, just to get some big dollar amount back? If you get more than $1K back, you're doing it wrong and need to check your withholding... :nod: I'll be getting close to 3k back. I like the big check once a year. Planning on insulating the house and paying off some old medical debt. Quote Link to comment Share on other sites More sharing options...
Mattsv8 Posted January 16, 2010 Report Share Posted January 16, 2010 well with taxes and some money ive been saving for the new motor. im getting a dart little m new 4" stroke crank 6"rods with l19 rod bolts custom je pistons for a stock 9.025 deck height and 8:5:1 RANGE felpro mls gaskets arp undercut head studs new frozenboost water to air intercooler kit, 500 bucks and i hear great things 8.50 cert done and truck back together. and i should have the 9" for the blazer done and installed. leaving only the tranny and converter. Quote Link to comment Share on other sites More sharing options...
Sam1647545489 Posted January 16, 2010 Report Share Posted January 16, 2010 LOL @ people thinking its good to get money back. I will be paying prolly close to 11K this yr. Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 16, 2010 Report Share Posted January 16, 2010 LOL @ people thinking its good to get money back. I will be paying prolly close to 11K this yr. in some senses, it is good for people to get money back, because like stated, if you get an extra 1-200/mo throughout the year, its easy to just spend that with monthly bills/expenses. its a little nicer to get a lump sum at once but if i could control myself enough to just put that extra aside in a savings account until the end of the year, i might make $50-60 in interest. personally, i'd rather pass up the $50 and take the lump sum, so i know ill have it but for those getting many thousands of dollars, thats crazy. even with a bunch of kids Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted January 16, 2010 Report Share Posted January 16, 2010 LOL @ people thinking its good to get money back. I will be paying prolly close to 11K this yr. Theres absolutely nothing wrong with it. Its basically a 0% interest savings plan for those who otherwise wouldnt save the money at all. If you can put the money into somethong thats going to make money year long... good for you. Not everyone is disciplined enough to consistently do that. Quote Link to comment Share on other sites More sharing options...
Bam Posted January 16, 2010 Report Share Posted January 16, 2010 LOL @ people thinking its good to get money back. I will be paying prolly close to 11K this yr. It's really a non-issue in times like these. Realistically for a person getting back $3000, the difference between a lump sum at the end of the year and $250/month for the year, is most likely less than a $30 savings with interest rates as they are currently. I shit $30, so the relief it is on my conscience to know that I will definitely have a refund and NOT owe at the end of the year, is worth it. Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted January 16, 2010 Report Share Posted January 16, 2010 It's really a non-issue in times like these. Realistically for a person getting back $3000, the difference between a lump sum at the end of the year and $250/month for the year, is most likely less than a $30 savings with interest rates as they are currently. I shit $30, so the relief it is on my conscience to know that I will definitely have a refund and NOT owe at the end of the year, is worth it. Good point. Our $2-$3K is only a drop in the pan. Another way to look at it is for a family making $100k, getting a $3k refund is nothing. Now on the other hand $10000 like Jasons could be invested and make a pretty good turn around. Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted January 17, 2010 Report Share Posted January 17, 2010 Bah.. paid about 12k total last year.. probably the same this year. Put it on the ol credit card for airline miles. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted January 17, 2010 Report Share Posted January 17, 2010 Because of the home buying credit I'll probably get close to 10k back. Sure beats the 2k I had to pay last year. I need to get my home theater furniture (berkline 3 seater power recliners and two sofas). The rest will go in my savings. May screen in my back porch. I was going to get granite counter tops, but I may wait. Quote Link to comment Share on other sites More sharing options...
CRAWDAD Posted January 17, 2010 Report Share Posted January 17, 2010 Good point. Our $2-$3K is only a drop in the pan. Another way to look at it is for a family making $100k, getting a $3k refund is nothing. Now on the other hand $10000 like Jasons could be invested and make a pretty good turn around. Few years back I was getting 10k back. I adjusted my w-4 and now get about 4k back. to answer the orginal question. $1000 will go towards local income tax:mad: $1700 will pay off a lowes 0% card (wifes new Washer/Dryer) Whatever is left is for my car!!!!!!! Quote Link to comment Share on other sites More sharing options...
Guest tbutera2112 Posted January 17, 2010 Report Share Posted January 17, 2010 as of today, i owe the IRS $500 for tax fraud...fuckers, i guess thats where my tax return is going lol note to self... "gift" on a 5 year old car is probably not a sweet idea, despite what the police officer selling you the car says Quote Link to comment Share on other sites More sharing options...
CRAWDAD Posted January 17, 2010 Report Share Posted January 17, 2010 as of today, i owe the IRS $500 for tax fraud...fuckers, i guess thats where my tax return is going lol note to self... "gift" on a 5 year old car is probably not a sweet idea, despite what the police officer selling you the car says How did you get busted for tax fraud? Probably non of my business, just found it interesting that you are only 19 and you are in the predictiment Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted January 17, 2010 Report Share Posted January 17, 2010 as of today, i owe the IRS $500 for tax fraud...fuckers, i guess thats where my tax return is going lol note to self... "gift" on a 5 year old car is probably not a sweet idea, despite what the police officer selling you the car says what happen ? either way im blessed to have zero debt, my taxes will go into savings. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted January 17, 2010 Report Share Posted January 17, 2010 We got a big check last year, and I hope for an even bigger one this year. My portion will hopefully be enough to pay off the Avalanche...if not, I'll pay off my school loan. That is this years money goal - become debt free (other than our house), then I can sell the boat and get a better one. Quote Link to comment Share on other sites More sharing options...
Guest tbutera2112 Posted January 17, 2010 Report Share Posted January 17, 2010 lol nothing big, no charges etc...just got a letter saying i owe $500 tax for my car...bought my car from a grovecity cop who told me it would be NP to write "gift" on it since his friend was the notary...so i said ok, and now i just got a letter in the mail saying i owe them money and it has to be paid by feb 2nd or theyre adding late fees Quote Link to comment Share on other sites More sharing options...
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