What are your plans for your tax return?

pokeplayer984 · **on:** January 30, 2012, 12:13:31 PM

It is now upon us! The time of when we get our tax returns. So, what plans do you have for yours?

As for me, I plan to use a good portion of the money to build my very own wind/solar generator so I can cut down on my electric bill. It has been getting high lately.

Anything left over I shall use to buy myself some stuff I've been meaning to get.

So, what of you guys?

Petrie · **Reply #1 on:** January 30, 2012, 05:20:49 PM

Exactly how much money do you think you'll get back? :blink: Last year I think I got back about $660, and I'm a salaried professional employee besides. What job do you have that gets you so much money back? I don't think I could build a solar generator with $660.

Regardless of what I get back, my tax return goes into the bank...possibly towards a vacation in Florida. Don't really know yet.

pokeplayer984 · **Reply #2 on:** January 30, 2012, 10:58:49 PM

Quote from: Petrie,Jan 30 2012 on 03:20 PM

Exactly how much money do you think you'll get back? :blink: Last year I think I got back about $660, and I'm a salaried professional employee besides. What job do you have that gets you so much money back? I don't think I could build a solar generator with $660.

Regardless of what I get back, my tax return goes into the bank...possibly towards a vacation in Florida. Don't really know yet.

Actually, if you go to your local dumpster, building a generator is less than you think. Many owners of local dumpsters are more than happy to have you rummage through their garbage for parts to build something new out of.

Many of the components for a wind powered generator can be made out of an old dryer with a working motor. (No joke there!) As I have found online, with enough junk, it only ends up costing you a couple hundred bucks at most. (Likely having to pay for a car battery and some copper wire.)

I work as a Sales Associate at Walmart. My last year's tax return was more than $1200. Don't ask how I got that much, I don't know either. To be honest, I can only expect to get less than that, but we'll see.

Also, I'm surprised you get so much less than me, Petrie. Do you think you missed something with your calculations? It's always a possibility.

Cancerian Tiger · **Reply #3 on:** January 30, 2012, 11:09:06 PM

Put it towards my credit card of course

.

vonboy · **Reply #4 on:** January 30, 2012, 11:30:40 PM

Well, I only worked for about 5 months last year, and for minimum wage too, so mine won't be much atall. :/

Maybe go get a pizza or something.

Pterano · **Reply #5 on:** January 31, 2012, 12:47:38 PM

^ I'll probably join you in that pizza party.

I don't think I'll be getting much back either. I dunno yet. Haven't checked with H&R Block... or whatever I'm going to use this year.

Cancerian Tiger · **Reply #6 on:** January 31, 2012, 10:27:23 PM

I do my own taxes. Saves a good chunk of change, but ya just have to know what you're doing

.

pokeplayer984 · **Reply #7 on:** February 01, 2012, 08:43:25 AM

I usually have my dad assist me with an on-line client. It only costs me a few bucks, and the payback I usually get is WELL worth it.

I just recently got my W-2. I just need a few last pieces of information, and I can begin.

pokeplayer984 · **Reply #8 on:** February 15, 2012, 08:00:39 PM

Okay guys, here's my amount. You ready?

Federal: $1,302
State: $262

Total: $1,564

It should be in my account in a few days. Hmm... What to do with all that money?

I'll think of something as I found that certain restrictions prevent me from building a generator. Oh well! -_-

I've got plans to make.

See ya later!

jansenov · **Reply #9 on:** February 15, 2012, 08:22:23 PM

I'm not too happy with subsidies for solar (or any other energy source, for that matter), but restrictions for solar should be removed by any means.

vonboy · **Reply #10 on:** February 15, 2012, 08:30:15 PM

Did mine yesterday, and turns out I'm getting $370 back. More than I was expecting!

It'll cover the cost of fixing my car, which is great.

pokeplayer984 · **Reply #11 on:** February 15, 2012, 11:58:28 PM

Quote from: jansenov,Feb 15 2012 on 06:22 PM

I'm not too happy with subsidies for solar (or any other energy source, for that matter), but restrictions for solar should be removed by any means.

It's not that, it's just that I can't put anything on my porch that may damage it. I can't nail something down onto there, sadly. Nor can I have anything sticking out too far.

So yeah, it was more about how I set it up, and after thinking over some loopholes, I discovered it wouldn't work out.

There were a few other plans I had for the money. One of which was finally getting a filling I've been meaning to take care of. I just lacked the money necessary to pay for it. (Insurance included.) Now that I have the money, might as well get it taken care of.

After that, I think I'll expand my movie collection. There's quite a few I've been meaning to buy. (I might need to buy an extra shelve though.)

Not to mention that I need a new pair of shoes!

After all that, I think I'll save what's left.

Petrie · **Reply #12 on:** February 16, 2012, 09:33:19 PM

I still don't fathom how you get $1,500 back. You're filing for yourself as an independent correct?

pokeplayer984 · **Reply #13 on:** February 17, 2012, 01:43:01 AM

Quote from: Petrie,Feb 16 2012 on 07:33 PM

I still don't fathom how you get $1,500 back. You're filing for yourself as an independent correct?

You know, I'm not sure on that. It was my dad who did all the work. I'll have to ask him.

Hmm... Maybe it has something to do with the $11,000+ CD I have in the bank. Not to mention that I have a full-time job with all the benefits one could hope for. On top of that, I have a credit score so good that I would be able to set up a loan if I wanted to.

I think it might just be because of how good I've been taking care of my money. Other than that, I really can't think of anything.

Petrie · **Reply #14 on:** March 03, 2012, 09:43:26 PM

Just got mine done.....get $500 back from the feds. I've thought about this some more, and I suspect it might have to do with the tax bracket you're in. Check here.... http://novelinvestor.com/tax-planning/2012...eleased-by-irs/

pokeplayer984 · **Reply #15 on:** January 27, 2013, 03:06:47 AM

It's here yet again! Tax Return Time! Here's my results!

Federal - 1,334
State - 289

For a total of $1,623. Not as high as I expected, but I'm betting that's more due to me selling so much stock in the company I work in some months back.

Yep, a good year money-wise for me. 2012 was probably the best I could hope for.

Ptyra · **Reply #16 on:** January 27, 2013, 01:27:55 PM

If you ask me, Pokeplayer, I'd put a good portion of that money in savings...the savings that build over time

vonboy · **Reply #17 on:** January 27, 2013, 01:49:34 PM

It's sitting at $515 right now, but I'm still waiting on my Wal-mart w2, to put in in the measly 1 month of work I did there at the end of last year. It shouldn't change much, I think.

I'm using it for my moving expenses this year, for when I move over to an apartment by myself about a mile from work, mainly so I don't have to put 1/4th of my income in operating a car, and I can still just walk to work if my old, worn-out rust bucket dies anyway.

I got my wal-mart W2 in ,and it went down to $484. Still not bad, though, and it'll still really help with my moving expenses