its money time!!

[DominicanBarbie]

So its that special time of year when life is good and you get to file your taxes ( yelling in my opera voice those who watch know what I mean) so this year what are you guys doing with your tax return. All I know is that sephora Mac and chanel are getting a nice lil visit from me! I need a new pair of chanel Sunglasses for sure. So spill!!

 

[MiCHiE]

I have no idea how much I'll be getting back. I usually save most of it (I love padding my savings account) and I'll probably take a little for clothes, which I desperately need.

 

[Janice]

I'm the person who always owes for some inane unknown reason. I seriously don't get it. No kids either. I don't look forward to tax season.

 

[frocher]

.....

 

[Divinity]

My husband and I are moving back to Colorado from Chicago this fall and are in the process of saving for it. Our goal is $10,000 by September, so if we get back as much as I'm hoping, it will help!

 

[CantAffordMAC]

I never get too much back. Well I've only had to file one other time, and I got no more than like $400. (I know it had to be less than that though)
I can never figure out how much to expect either. I've worked one job for 4 months, then my current job for 10 months, and now my new job for only one check for like $30 (thats the only thing that will be counted since it was in 07)

I'm putting a nice chunk of it away, then I'll probably do some spring clothes shopping, and visit MAC. Thats all I can think of. It can't be more than like $500. And that sucks. Money sucks.

 

[gigglegirl]

this year will probably be my first with little (if anything) in a tax return--if I do get anything it will prob go toward business attire. When I worked full time over the summer break, I had filled out the initial tax form as going to school for X number of dollars, and so then thats factored in and added to the personal exemption so less taxes were taken off paycheques. Oh well, its honestly better to either have little/no refund or even having to pay (I know it sucks but at least the gov't didn't have your extra cash interest free and you would have had more throughout the year). That being said I love getting a large cheque even though in theory its not great.

Not looking forward to next tax season after I finish my degree this year >< Doing my mom's taxes each year depresses me seeing how much they get. Boo. But that is life

 

[makeba]

i plan on hitting up the CCO store for some serious goodies. and i want to invest into some good makeup brushes and a traincase. i plan on taking a portion and do big things for me becuz 2007 was not a nice year for me so 2008 will be great!!!

 

[Shimmer]

Redoing our pool.

 

[MAC_Whore]

We try to always balance it out so we owe zero, but we have soooo many little variables. I have a feeling that this year, we will be on the owing side of the equation. Um....yeah....

So apparently Janice and I will be broke and hanging out at Shimmer's pool.

 

[Shimmer]

I think that's a fine idea.

 

[MACATTAK]

Probably a little treat at Mac, and the rest to bills.....boooooo!

 

[BadBadGirl]

I'm not sure how much I will get, but if it is a niceamount I'll buy myself one thing, like some Chanel or Dior glasses for th summer and the put the rest away.

 

[Evey]

Looks like my husband and I will be paying off some bills and buying everything else we need for the baby on the way...lol money sucks

 

[ms_bloom]

The tax year is July-June here in Australia but I always file at the very last second LOL (returns are due 31 October). I have gotten pretty good at knowing what I can deduct and I always get good returns when I'm studying as post-graduate course fees can be claimed as a self-education expense. So this tax return just gone I got over $4,000AUD back.

It all went into savings. I am paying for my upcoming LASIK (next Tuesday!) and holiday to Thailand in cash. The goal this year is to start investing in an index fund after I build up an emergency fund.

 

[tiramisu]

I don't know, but if you've ever had to PAY money back, like I have, then it will ruin every year from that point on no matter what the refund might be.... trust me... I really just end up saving it b/c I know there will be that time that like five things will go wrong or break within a three month period. I'll probably be getting a new water heater or something boring like that. LOL

I still will, whenever the time comes or the mood strikes, blow some cash on a few non-essential MAC or other makeup related items, for sure... woot!

 

[captodometer]

For those in the US that usually end up owing, you should use the IRS online calculator to determine the appropriate number of exemptions to claim.

And those that are excited about the prospect of getting a large refund shouldn't be. A large refund means that you basically gave the US govt a large loan that you earned absolutely no interest on! That money would have been put to much better use in an investment account, paying off your debts, funding your home improvements, etc.

There's no way to perfectly calculate your withholding, but the objective should be to pay/receive as little as possible. I usually manage to stay in the $500 range, and most of the time it's a refund that I save.

 

[*Stargazer*]

Quote:

Originally Posted by captodometer And those that are excited about the prospect of getting a large refund shouldn't be. A large refund means that you basically gave the US govt a large loan that you earned absolutely no interest on! That money would have been put to much better use in an investment account, paying off your debts, funding your home improvements, etc.

Not always. Several years in a row, DH paid no taxes and we ended up with 7K+ refunds. This year we paid very little in actual payroll taxes and are getting back over 4K. And people who make very little and qualify for EIC get large refunds without having paid much in taxes.

 

[labellavita7]

I have been DYING for chanel sunglasses for the past 3 years but everytime i save up enough, I spend it elsewhere lol

 

[makeupgrl8]

I will be paying for my new car registration. Fun right?