Is anybody else very pleased with their tax refund this year?

lydia1959

16 years ago

We knew we'd get a bit more back this year because of the education credit (DD is in college), but we weren't expecting double! Should be enough to pay DD's rent, food and ultilites at school for most of the year plus I may be able to siphon enough out to also replace our bedroom carpet. State refund was about the same as usual... enough to let DH and I take a couple 3-day vacations.

We went to Jackson Hewitt (at our local Walmart) this year. Even with a lot of interest and dividend forms to add on as well as some deductions, the fees we paid were much less than we did to H&R Block several years ago. Very happy with Jackson Hewitt's service! (There's a $20. off coupon at their website too!)

We do usually do our taxes ourselves online, but this year we had cashed in a lot of savings bonds for education so we wanted expert help.

Sort by:Oldest

Comments (29)

Pawprint
16 years ago
Good for you!!

Anytime I get money back - I'm pleased! Yes for me!
Mystical Manns
16 years ago
No refund for us this year ... but the stage is set already for next year!
Related Discussions
Anybody Else Feel a Little Bit Tipsy This Time of Year?
Q
Comments (4)
Tipsey and tired here. My order of Siberian Iris arrived yesterday from Joe Pye Weed's Garden. I planted 6 iris last night, finishing up in the dark. DW continues to wonder about me. Three more to go tonight. The iris sent by Joe Pye Weed's Garden were not as small as some here led me to believe. The foliage was clipped but the roots were about 6". Pretty much comparable to the potted SI I have bought at local nurseries. The overall condition/packing of the plants was excellent. The free gift plant they included was one of their new (expensive) varieties. I am very pleased with this supplier.
...See More
Anybody else blown their hosta budget on water this year?
Q
Comments (16)
We could have made a mortgage payment with the water bill this year......I think by the time it's over and done, it will cost us more than $1500 for water for the 3 1/2 months of drought and extreme heat we have had. And we still lost plants. Japanese maples, evergreens, a dogwood, and we won't know how many perennials and shrubs until spring. I wish my water bill was as low as yours, Babka! I would be dancing in the misty/drizzle! Reality is quite different here! You garden quite differently in CA than we do here in the midwest, as I remember from my many visits out there and all the plants I couldn't even begin to identify; and the rains came in the late winter in northern CA.. Looks like La Nina is back again, officially, so we might have a continued drought (we are still under extreme drought conditions, according to NOAA) and will be that way for a long while. Next summer looks to be like a repeat of this past summer. So thankful for the rain we have gotten the last two days, but it wasn't nearly enough. Hoping for more. And it just started raining again! But I've moved a couple of pots and things, and even after 4 1/2 inches of rain, the ground was still dry as powder under them.
...See More
Anybody else have to juggle bills with trying to save
Q
Comments (12)
In managing most businesses, if the manager doesn't pay the employees, they don't continue coming to work very long. Each of us above being a toddler has a business that we run on the side. Nice part is, our employees don't charge for their work. As a matter of fact, they pay us! Each of those employees is called a Dollar (if you're in the U.S., it's a Bill; in Canada, a Coin, which we call a "Loonie"). If a kid sends that dollar out to buy ice cream it works for him/her once - and s/he can enjoy the "fruits" of the employee's work. Same for Mom and Dad regarding food, rent, clothing (unless they live in a much warmer climate than in this area - Buffalo had over a foot of snow, yesterday!). For many people in this part of the world, a car is pretty well in the category of "necessity", as well, as we have pretty well organized society around the car: many built-up areas no longer have sidewalks. If one finds ways to hang on to some of those dollars, they'll work for that person as long as s/he hangs on to them, with one exception - if they stick them into the mattress. Banks like to tout their guarantee that when we leave money with them, they'll pay rent on it, and guarantee to pay back every dollar that we lent them. They never mention the other guarantee - that, apart from the rent on the loan, they won't pay us one dollar more, either. But, there's a problem: I say that, when we invest our dollars where we are guaranteed to get each back, that their number can't grow, either. And the value of each declines each year that we own it. I say that there's two rats that eat your cheese: the income tax people want to talk to you each year about all of your earnings in that year. And they want some of it, of course. In Canada, they quite different rates of tax on varying kinds of income. If, apart from the rent, the number of your invested dollars can't grow, you need to add some of those invested dollars to the asset each year so that your purchasing poweer doesn't shrink as the value of each of those dollars of your asset shrinks. That rat's called "inflation" and it has eroded the value of each of your saved dollars every year - since the 1930s. With the rates of interest that borrowers are willing to pay these days, when we take out some for tax, and more to add to the saved dollars, each of which will buy less each year, often times there isn't any left. Know what? The rats eat first! If there's any left, you get that. Recently, there's none left. Imagine - the bank (as borrower) makes more on your money than you do, quite a bit of the time! As a matter of fact, every borrower, whether bank, corporation or individual figures that s/he can make more on the borrowed money than it costs him/her ... or they wouldn't borrow, would they? Suppose you'd put $10,000. into the bank 15 years ago, on a 5-year certificate, and renewed it twice since. Now, when you receive that money (apart from the rent) they'll pay you precisely what they borrowed - $10,000. That $10,000. would have bought a decent car, 15 years ago. Not now: inflation cut its value substantially through those years. Did inflation hurt the bank? No, they rented that money out to someone else (actually, usually about 8 "someone"s), at a higher fee than they paid you. Suppose I borrowed that $10,000., 15 years ago, agreeing to pay the bank the interest only monthly, and did that. How much would I owe the bank now? Right - exactly $10,000.00. Which will buy a great deal less now than it would then. So I gained from inflation: the guy who put his money into the bank lost ... unless the interest covered it. Farmers like to stick one seed into the ground and have it grow into an ear of corn (maybe even a couple of ears). Similarly, I like to invest a substantial portion of my assets into situations where I expect them to grow, given a number of years - and mine go back varying lenths of time to about 40 years. Some grew nicely ... and several paid increasing amounts on the investment over the years. However, I haven't had to answer to the income tax people about that increase in value ... and won't, until I sell them (or die). Which gives me much of the benefit of the tax-deferral in the tax-deferred retirement accounts (but with far fewer restrictions). And when I cash them, I pay tax on the increase at half regular rate. Some didn't pay anything, or sporadically. Some of those assets grew in value, more than enough to cover the ongoing returns that they hadn't paid (and on which I'd have had to pay tax at the time). Some didn't pay ... and went down in value, into the bargain. As a wise person said, "You can't win 'em all!". An investment group of about 25 that has met monthly for around ten years, that I've attended for six or seven, calls those latter experiences "tuition". In the school of learning how to manage money more effectively. When did you last merit a free luch? Good wishes for learning how to make your income and assets work better for you than for the other guys. ole joyful P.S. Actually, many of us get a "free lunch" here at Gardenweb, and various other places - for we've learned a lot, and it hasn't cost us anything but time, and internet fees, that we pay anyway. Actually, a while ago, it cost the guys giving the advice - for one could read for free ... but the owners charged a fee for one to open his (her?) big fat yap. Quite an imposition for us former clergy! Wouldn't you agree? o j
...See More
Poll re Income Tax: are you expecting a substantial refund??
Q
Comments (29)
We have Vannie and Kelly beat.We will be giving the IRS $18,000.! See what I mean about almost enough to buy a new car? LOL Talk about Ouch! All because we were fortunate enough to inherit oil property from in-laws in 81 and were even more fortunate to be able to sell last year at a very good price.We have paid an average of $3000. every year since in taxes on the oil royalties on 2 producing wells,plus about $1200. a year in property taxes.I think it is a little unfair to have to pay 18% taxes on that one time windfall but that's the way it is.So much for being one of those "rich" Texas oil people! LOL
...See More
mcmann
16 years ago
I'm impressed that you've finished your taxes. I'm still waiting for 1099's so that we can do ours. Wells Fargo said they'll mail them on or before 2/20.
nodakgal
16 years ago
Haven't had a refund for years!
We always pay in.
DH doesn't even worry about getting things to the taxman til mid March.
:)
mary_c_gw
16 years ago
A couple of times when our son was in university, we did get a refund. It was small, since I adjusted our withholding. But mostly I prefer to owe the IRS.

We're usually in the "owe $100-$500" arena. Huge refunds (meaning the IRS has been making interest from my money) don't appeal to me.
glenda_al
16 years ago
Get mine prepared with AARP free. March 4, yea
alisande
16 years ago
Like Mcmann, I'm still waiting for 1099s. But I never get a refund, so I'm not too excited about the whole thing.
lydia1959
Original Author
16 years ago
We don't mind letting the IRS borrow our money for a while, it's like having an extra 'savings account' (considering one of my savings accounts only earns 1.5% interest.. it's not like we are losing much money). I might be in the minority thinking that way... but we love the big chunk of money (big to us anyhow) this time of year which is usually used for home improvements, but with DD in college the past 2 1/2 years, the recent refunds have went towards paying her dorm and living expenses. It works for us.

State refund money is usually not very much... but it's always been our vacation stash. Good thing we don't want to travel very far! lol
carol_in_california
16 years ago
We haven't gotten anything back for a long, long time.
It certainly would be a big surprise.
3katz4me
16 years ago
I don't do my taxes until later in March but I'm not expecting a refund - will probably have to pay as usual. Since I started getting "professional help" with my taxes I'm now able to manage this more closely so the government does not get the benefit of using my tax overpayment, interest free, throughout the year. So I'm now pleased if I don't end up with any refund.
bee0hio
16 years ago
Oh, yes. I thought we'd have to pay a few dollars, but was very pleased that, instead we're getting back just over $1k. That was quite a surprise. There were a couple of new things this year that impacted us. I did ours with TurboTax online as our taxes were much less complicated (reflective of less income, boo hoo).
FlamingO in AR
16 years ago
We're in the "waiting for forms" catagory, too. Some of them don't come until almost April, so we file near the deadline.

I'm glad you're happy, Lydia! Cash that check quick, while it's still good. ;)
monica_pa Grieves
16 years ago
i'm with Mary c...I pay enough taxes, be darned if I'm giving my money tax-free for months to a year - they sure have never given me any interest free loans.
gardenspice
16 years ago
I got my last 1099 on Tuesday, but I thought they were to be mailed by 2-15 this year. So, I'll probably do my taxes this weekend. several "puts and takes" this year, but as long as I'm close, I'll be happy.
marygailv
16 years ago
My son-in-law takes mine to his accountant, so I haven't seen the final results yet, but I always have to pay and I hear you have to pay more because of receiving the stimulus check, so I'm hoping I have enough set aside.
bigfoot_liz
16 years ago
well i haven't really calculated it, my dad's a CPA, that's what i pay him for. but DH has been bugging me that the college credit of $2K is really his $$ (whatever, i pay for everything lol) so i'm guessing he knows all the ins and outs of it lol. i already know what amount i was getting back before that credit, how that credit works i don't know, i'll find out soon thou i'm fed'xing the paperwork to my dad tomorrow ~ liz
lydia1959
Original Author
16 years ago
Liz, for a student who is your child .. it looks like you just get up to $2500. tacked on to your refund depending on how much you actually paid for tuition (books and fees count too I think) minus any scholarships. It may be different if your DH is the student. The man that did our taxes did ask us who the student was as if that would make a difference.
chisue
16 years ago
Can't file until the last mutual fund statement comes in. NEVER pay ahead of time; just pay minimum estimated to preclude a penalty. Unless you have a very simple income, don't assume that a 'free' or cheap tax preparer is your best option.
maryanntx
16 years ago
We were going to have to pay this year until I found out something else I could deduct. So it looks like I might get a $149 refund. Yeah! that sure is better than paying.
curlysue
16 years ago
Very happy, my DD is also in college. She is a sophomore and as of right now has 0 student loan hanging over her head. We had just applied for the low interest student loan and were waiting for the letter so that we could contact the school to tell them we only wanted a partial loan-when I found out how much my refund would be, I canceled the loan. Made me feel so good to know that as of right now she has no student loan. So many people have so much debt because of student loans that in some cases these people are in their late 20s or early 30s still paying student loans. Thank you Uncle Sam
angela_nor_calif
16 years ago
What refund? We pay a lot every year. I wish we got a refund.
linda_in_iowa
16 years ago
I am happy with the refund I am getting. I bought a new car in August and can deduct the sales tax. I also got a new energy efficient back door and can deduct the cost of that. I did my taxes online with TaxAct.
bigfoot_liz
16 years ago
dh does qualify and i'm guessing since he told me that $2500 was his lol he knew all about that, already ;-)) jeez i can't believe that's they way that credit works... i guess there is an upside to no scholarships for adult students even w/ perfect GPA's in honors BS/MS engineering :-/

my dh has been getting govt low-no interest loans for his junior/senior yr and will for the 1 yr of MS left. personally i don't care, the average starting pay for a UCF MS honors engineer is $90K and $30K in loans can be paid off in one yr w/ that income. every single person he has known over the last 3 yrs that has graduated from the engineering program has gotten a job before graduation, we're not in the least bit worried on that. we already own our home, 1 new car(paid off), his 10 yr F-150 (paid cash) and i'm still up 200% on my house. we've been living solely on my income for 2.5 yrs now so once he's done we're set for life lol. or atleast till i go back and get my MS in biotech, can't have my DH controlling all the income lol ~ liz
Silverdove
16 years ago
When I did my taxes, I realized that amount that had been withheld was nearly twice the amount of my taxes.

So I decreased my withholding for this year. I'll feel like I'm getting a pay raise!
whidbeykathy
16 years ago
I think the last refund we recieved was 16 years ago.
monica_pa Grieves
16 years ago
Wasn't someone posting financial hardship on another thread (Jury), that they were unable to serve on a jury because they couldn't afford to lose even a day's pay, to be a citizen?
kframe19
16 years ago
I've not seen a tax refund in 15 years from the Feds.

I try very hard to make my Fed. bill and my state refund balance out.
bigfoot_liz
16 years ago
uhh monica if you go back you will see i did say i could lose 1 day but certainly not 2 weeks worth... i also did say that every $$ coming in goes right out plus another $1000 a month, ea month, for the last 24 months, from savings, to cover what student loans do not cover ea semester. DH only gets $6K a semester, tuition runs $4500, books and CAD program rights another $4-5k, mandatory UCF insurance $250, parking $150... he gets nothing for summer so that another $2500 in tuition, $2K in books... all the shortages go on an interest-free credit card and i pay $1000 a month towards that from savings. savings has not be added to at all since 2007 when DH quit working to finish his honors BS/MS and 2 months later i got my income cut 23%. any refunds we get go straight to savings to replenish the losses.

sorry if you think i'm not a good citizen lol because i refuse to take on more financial hardship...i have worked since i was 13, had fulltime employment continuously since the age of 18, moved out on my own at 18, put myself thru 10 yrs of college w/o a single loan or any aid, started a 401K at the age of 19, bought my own house, have no credit card debt of my own (dh has the college debt), buy everything needed for my DH, myself and 2 elderly dogs, pay my utilities and mortgage on time and have never ever even had a parking ticket let alone any other offense. not to mention i will never be a burden to society by collecting social security or medicare, as i was raised to believe there will be no $$ left for my generation (X) and i have planned my whole financial life around that.

or maybe it's because i'm the child of a 3rd generation chicago political family that you think i'm not a good citizen lol ;-)) ~ liz
sheilajoyce_gw
16 years ago
Refund? What's that?

Is anybody else very pleased with their tax refund this year?

Comments (29)

Pawprint

Mystical Manns

Related Discussions

mcmann

nodakgal

mary_c_gw

glenda_al

alisande

lydia1959
Original Author

carol_in_california

3katz4me

bee0hio

FlamingO in AR

monica_pa Grieves

gardenspice

marygailv

bigfoot_liz

lydia1959
Original Author

chisue

maryanntx

curlysue

angela_nor_calif

linda_in_iowa

bigfoot_liz

Silverdove

whidbeykathy

monica_pa Grieves

kframe19

bigfoot_liz

sheilajoyce_gw

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

Is anybody else very pleased with their tax refund this year?

Comments (29)

Related Discussions

lydia1959Original Author

lydia1959Original Author

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

lydia1959
Original Author

lydia1959
Original Author