Refund Checks

[LifeisaGarden]

It's going in the bank.

[sunbunny]

lol....kids got a grow op in the back shed?

Wilson has the highest utilities in the state. We pay double what everyone else is paying. Our house is only 2000 sq ft. Google wilson county electric rates. We're getting ripped off big time, but no one will/can do anything about it.

Our bill is actually low compared to other people we know. Think $1000 electric bills.

[TheRealDeal]

pay down some debt, maybe use it for some property taxes I owe lol and the leftover towards my daughters college fund.

You send me that college fund and I'll turn it into an Ivy League college fund. Cash only I don't like a paper trail, you know, for tax purposes.

[CLTPanther]

One option you could use it register on turbotax.com and do your returns as filing individually, then joint and see which one gives you the biggest refund. You don't pay anything on turbotax until you actually file, so you can use it as a tool for free to see how you should file.

[Kitten Diver]

Damn....how big of a refund are you getting.

You do realize that getting a big refund is NOT a financially smart thing to do. You are giving the government an interest free loan.

Many people like to get a refund because it is forced savings....would blow an extra could hundred dollars a month, but can actually do something with $2,400 at one time.

Better solution is to increase your exemptions you are claiming....withold less....and put the extra money into an investment/savings account. You draw the interest and still have the cash later.

In fact, the best solution is to withold the minimum that you can without being assessed penalties. Take the extra cash and put it into a savings account. You earn the interest. Then you use the account to pay your tax bill in April.

FYI....if you give me $1k per month starting now, I will give you back $12k next year.....and I keep the interest. Anyone interested?

Never mind just actually read it. I lose.

[tarheelpride]

Coke and whores or coke whores?

Hell why not both?

[Hawk]

Wilson has the highest utilities in the state. We pay double what everyone else is paying. Our house is only 2000 sq ft. Google wilson county electric rates. We're getting ripped off big time, but no one will/can do anything about it.

Our bill is actually low compared to other people we know. Think $1000 electric bills.

thats crazy! Do you have electric heat in your house?

I think my last electric bill was under $200 and it's been brutally cold...we heat with natural gas, but still see an increase in power for the fan etc.

[Kettle]

One option you could use it register on turbotax.com and do your returns as filing individually, then joint and see which one gives you the biggest refund. You don't pay anything on turbotax until you actually file, so you can use it as a tool for free to see how you should file.

most of the sites are that way. and joint is always the way to go.

[Zcustom]

Oh and I found out this year if you're poor you get to file for free, yay being poor!!

[sunbunny]

Damn....how big of a refund are you getting.

You do realize that getting a big refund is NOT a financially smart thing to do. You are giving the government an interest free loan.

Many people like to get a refund because it is forced savings....would blow an extra could hundred dollars a month, but can actually do something with $2,400 at one time.

Better solution is to increase your exemptions you are claiming....withold less....and put the extra money into an investment/savings account. You draw the interest and still have the cash later.

In fact, the best solution is to withold the minimum that you can without being assessed penalties. Take the extra cash and put it into a savings account. You earn the interest. Then you use the account to pay your tax bill in April.

FYI....if you give me $1k per month starting now, I will give you back $12k next year.....and I keep the interest. Anyone interested?

We aren't getting back a huge refund. The hubby does have the min taken out. LOL

Keep in mind that anything to do with a car, we get wholesale.

[MadHatter]

I'll bite. I'm actually looking for a new money manager for my investments if that is your occupation. If this is just a lousy sales pitch then fug off.

So you will give me $1k each month for the next 12 months.....and I will give your $12k back on the 13th month?

If so, you need more than a financial adviser.

You do realize that in the scenario above, I am only giving you back your investment....and I am keeping all of the interest.

But seriously, up your witholdings and have the extra money put into a separate account. You do not touch that account until after you do your taxes and pay any additional tax bill. Therefore, you are never at risk. You will at a minimum pocket the interest....not a ton now, but it is better than giving it to Uncle Sam.

I am not a financial adviser, but am a CPA. The method above is a very simple and risk free way of earning interest on YOUR money.

[MadHatter]

We aren't getting back a huge refund. The hubby does have the min taken out. LOL

Keep in mind that anything to do with a car, we get wholesale.

Ahhhhh......got it.

[The Saltman]

You send me that college fund and I'll turn it into an Ivy League college fund. Cash only I don't like a paper trail, you know, for tax purposes.

lol wut?

[sunbunny]

thats crazy! Do you have electric heat in your house?

I think my last electric bill was under $200 and it's been brutally cold...we heat with natural gas, but still see an increase in power for the fan etc.

Yeah, we have electric heat.

My mom has gas heat. Her electric was still over $300 for this past month.