Tax returns

Discussion in 'Community Discussion' started by SilvorX, Apr 9, 2006.

  1. SilvorX macrumors 68000

    SilvorX

    Joined:
    May 24, 2002
    Location:
    'Toba, Canada
    #1
    It's tax season (atleast here in Canada), and I just found out yesterday how much I'm getting back, if you received a return for this tax season, what's your plans with the money?

    I'm receiving approx. $860 Canadian, I might put the money away towards a trip to Mexico (that will be occuring in 2 years), or buy a "next gen" iPod whenever it gets released

    what's your plans with your tax return money?
     
  2. Duff-Man macrumors 68030

    Duff-Man

    Joined:
    Dec 26, 2002
    Location:
    Albuquerque, NM
    #2
    Duff-Man says...I got about $1500cdn back and it went towards my new MacBook Pro.....oh yeah!
     
  3. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #3
    My tax returns go towards investments or debt. Typically investments since I am virtually debt free. I see no point in pissing off money such as tax returns. Typically, if I piss money off it's a bonus and it's usually 50% of the bonus that I'll spend on something that I probably don't need but I want very badly. The rest goes into investments or some savings. I have no plans on working all my life so I am saving now.
     
  4. Doctor Q Administrator

    Doctor Q

    Staff Member

    Joined:
    Sep 19, 2002
    Location:
    Los Angeles
    #4
    Great news!!! I didn't let the government get free use of my money all year!!! :)

    On the downside, that means I owe them money before the week is out. :(
     
  5. PlaceofDis macrumors Core

    Joined:
    Jan 6, 2004
    #5
    i think i'm getting somewhere around $350 back. not much this year. i think i'll be putting it towards a new cell phone, i'm thinking of an Unlocked Moto PEBL. yum.
     
  6. alexstein macrumors 6502a

    alexstein

    Joined:
    Aug 23, 2004
    #6
    I'm hardly getting anything back this year. I think I will take the misses out and that is about it.
     
  7. Jschultz macrumors 6502a

    Jschultz

    Joined:
    Mar 14, 2005
    Location:
    Chicago, IL
    #7
    I think I got a lot back as a part timer. $680 USD to be exact.

    It pays for debt and bills. I regret to inform you all that it feels really good to pay bills and debt off rather than buying something shiny and new from apple. ;) :D
     
  8. Deepdale macrumors 68000

    Deepdale

    Joined:
    May 4, 2005
    Location:
    New York
    #8
    Good for you, Jessica. The time to do that is when one is your age ... go ahead and make it happen.

    Reminder: For those filers who plan on requesting an extension by next Monday's 04-17-06 deadline, be aware that it offers extra time only for submitting papers (provided it is completed properly), not for paying tax. Many are mystified upon receiving notices months later that assess a penalty for failure to pay tax, along with mandatory interest due.
     
  9. gauchogolfer macrumors 603

    gauchogolfer

    Joined:
    Jan 28, 2005
    Location:
    American Riviera
    #9
    It's complicated for me this year...

    I moved from California to France in October, and am paid entirely by the French government (research fellowship actually). My wife is working remotely for her company in California, but at a much reduced amount per week. So, we have to figure out all of the pro-rated contributions, moving expense deductions, etc.

    On the bright side, we don't have to file until June, since we're overseas. And, it looks like we'll get back about $4000 USD! It'll mostly all go into an IRA for the future, but it's nice nonetheless.

    Cheers.
     
  10. SilentPanda Moderator emeritus

    SilentPanda

    Joined:
    Oct 8, 2002
    Location:
    The Bamboo Forest
    #10
    $315 federal and $69 state! WOO HOO!

    Granted... I did make those numbers red for a reason...

    Oh well. Intel iMac ordered anyway!!!!
     
  11. iGary Guest

    iGary

    Joined:
    May 26, 2004
    Location:
    Randy's House
    #11
    I got 260 back Federal and 60 back state.

    All of it (and more) went to the accountant who made sure it wasn't the other way around.

    :D
     
  12. Les Kern macrumors 68040

    Les Kern

    Joined:
    Apr 26, 2002
    Location:
    Alabama
    #12
    2,300US, which helps pay my ever-rising property tax bill of 8K.
    If they don't find a better way to fund schools in Illinois there will be anarchy.
     
  13. ebow macrumors 6502a

    ebow

    Joined:
    Apr 30, 2001
    Location:
    Trapped in a world before later on
    #13
    Our couple dozen benjamins went into the bank and toward my Roth IRA. Mmm... fiscal responsibility... :rolleyes: Of course much of that may come right out of the bank later this year for a trip to either Spain or Ireland. :D
     
  14. iSaint macrumors 603

    iSaint

    Joined:
    May 26, 2004
    Location:
    South Mississippi y'all, near the water!
    #14
    Since I was in school and worked little last year we were the benefit of the Child Tax Credit and Earned Income Credit. This resulted in a rather large return which went straight into savings!
     
  15. baby duck monge macrumors 68000

    baby duck monge

    Joined:
    Feb 16, 2003
    Location:
    Memphis, TN
    #15
    A respectable $470 or so is getting returned for me this year. Unfortunately, this will be paying for the surgery my wife just had :( Fortunately, we have health insurance, and that made the bill only about $500 instead of about $14,000, and even more fortunate is that this tax return is basically money we were doing without anyway, so it almost makes it like she never went to the hospital! Except for the pain, time spent there, and three small scars. Ah well.
     
  16. Chip NoVaMac macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #16
    Sorry to hear that. I will be getting the smallest refund ever after 10 years of close to $1000+ back. This year I will see just under $300 back. :mad:

    I am affraid that I will end up owing some money next tax year. No longer have that golden mortgage deduction next year. :( Wish I could afford a safe home in the overpriced DC area.
     
  17. job macrumors 68040

    job

    Joined:
    Jan 25, 2002
    Location:
    in transit
    #17
    Jesus, that's a lot.
     
  18. Clix Pix macrumors demi-goddess

    Clix Pix

    Joined:
    Oct 9, 2005
    Location:
    8 miles from the Apple Store at Tysons (VA)
    #18
    Got a little over $500 back... planning to put that into a new lens for my Nikon D200!
     
  19. yoak macrumors 65816

    yoak

    Joined:
    Oct 4, 2004
    Location:
    Oslo, Norway
    #19
    My wife just recieved the letter stating that she will get 11200.00 Kr back. That´s close to US$2000:eek:

    I will get some money back as well, not sure how much though. Not as much as her.

    The money will go towards our wedding celebration in Spain this summer:)
     
  20. eva01 macrumors 601

    eva01

    Joined:
    Feb 22, 2005
    Location:
    Gah! Plymouth
  21. yoak macrumors 65816

    yoak

    Joined:
    Oct 4, 2004
    Location:
    Oslo, Norway
    #21
    Amazing that so many got money back. Last year I ended up owing 20.000 kr (US$ 3000) in taxes:mad:

    I had a really hard time paying it off as they don´t give you much time
     
  22. Motley macrumors 6502

    Joined:
    Dec 11, 2005
    #22
    $940 back from the Fed and owe 20 to the state. Money goes right into the bank and then into investments.
     
  23. job macrumors 68040

    job

    Joined:
    Jan 25, 2002
    Location:
    in transit
    #23
    I used my $200 to pay off more of my student loans.

    Interest that works against you sucks. Hard.
     
  24. Les Kern macrumors 68040

    Les Kern

    Joined:
    Apr 26, 2002
    Location:
    Alabama
    #24
    TELL me about it... bigger than my mortgage. And I don't have a mansion either... just a pretty normal home.
     
  25. ~Shard~ macrumors P6

    ~Shard~

    Joined:
    Jun 4, 2003
    Location:
    1123.6536.5321
    #25
    I should be getting between $4000 and $5000 back, due to some huge tax credits I realized thanks to some limited partnerships and flow through entities I invested in. I haven't even touched my RRSP yet, no need to. My accountant is worth her weight in gold, she always gets me more money back than I could imagine. :cool:

    As for what I'm spending it on, I'm not going to buy anything specific with it. Many people seem to treat their tax return as free money, but really it's your own money that you're getting back. :p ;) And furthermore, you've just given the goverment a year-long interest free loan with that money as well... bastards... That's why I love taking advanatge of Canadian tax law as much as possible... interest-free loans, you name it, I'm doing it... :cool:
     

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