My wife and I filed our taxes this evening. The process was pretty straightforward and only took a few hours. We have a small refund heading our way – we plan to use it to help rebuild our long-term cash savings. Over the years, we have used our tax refunds for:- funding our emergency fund, purchasing furniture for our new home, paying off credit card debt, and going on vacation. In a perfect world, we would have our withholding dialed in, and our refund would be very, very small. As many have stated before, there’s no reason to give the government a “tax free loan”. The reality is, our income fluctuates each year, and we would rather play it safe…
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10 Ideas For What To Do With An Income Tax Refund
I have been working on my taxes and it looks like my wife and I will be getting an income tax refund this year. That’s good news, because we are in the process of paying off our mortgage and every extra penny counts! A certain portion of our household income comes through self-employment, so judging withholding can be a bit tricky. We tend to ere on the conservative-side and over-withhold – which usually leads to a bit of a refund. Looking to save money when filing your taxes? Check out this deal – Save 15% on H&R Block Online Tax Software. Here are a few ideas for what to do with an income refund, including what we are going to…
Continue Reading→What We Plan To Do With Our Tax Refund
I have been working on our taxes and it looks like we will be getting back a small refund – think hundreds, not thousands. My wife and I usually over-estimate withholding, just a bit, due to the fact that I have self-employment income, which tends to vary from year to year. We prefer to send in a bit more, just to be on the safe side. We will use our modest tax return for three things – Vacation – We are going to take a week-long vacation to the beach this summer (for which we have budgeted) – and about 25% of our refund will go towards extras, like bike rentals or a trip to putt-putt. We have three kids,…
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