It's Tax Season

[Twitchin Kitten]

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We never had a tax thread. Time for one. Share what you're comfortable with.

What do you guys usually do with your returns?
Do you pay off bills and have nothing left?
Do you pay off some and then spend a little on something "extravagant" on yourself? Your significant other?
Do you sock it away to collect a pittance of interest? Invest it?
Do you (GOD FORBID) have to actually write a check to those pickpockets at the IRS?

We usually pay off credit cards that have balances and sock the rest away. This year I'm not socking away anything. We're going to pay down debt and piss the rest away on tattoos.

[ralgith]

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So... here's how mine works out...

1. I barely pay in. Why? Fuck Uncle Sam, I don't give interest free loans. Fucker anyway! So, I claim ALL of my deductions on my W2.
2. What this means is that my federal refund is usually fairly small, as in less than $500.
3. It also means I usually end up paying in to the state, because their withholding apparently isn't as accurate. Between $30 and $65 each year.
4. Obviously I pay the state from the federal refund.
5. Whatever is left I usually hang on to, just because ya never know when a little extra cash will come in handy. Like when the front shocks go out on the car >_<
6. If I can afford to do something else with it, I usually grab some new small tech item. This year I'd like to get a Raspberry Pi. Been wanting one since they came out, and... ugh.

[LKTraz]

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I use it as sort of a Christmas club kind of thing.

I catch up on any bills I might be behind on.....if none then I will pay a few of them ahead so I have a little buffer as the year goes on.

The rest? Get stuff for the house, clothing for everyone, convenience items that make our lives easier (kitchen gadgets etc), usually some music gear and from time to time a big ticket item or two.

This year I got a nice fat refund so I got new tires for the Tahoe, new sink and faucet for the bathroom, new faucet for the kitchen, new dishes and silverware (for the first time in my life I now have ALL matching silverware) and a new 55" tv for the living room to replace my 42" which was getting a bit tired.

Also picked up a bunch of little kitchen items that needed replaced and stuff for the house like new curtain rods.

[Biker Dude]

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I get a refund. I don't have any bills that I owe other than mortgage and the truck, so I can do whatever with it. This year I will most likely get a new tattoo, Dump some in my retirement money market, and maybe buy something for the bike.

[twisteroo]

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We usually just piss it away.
This year we are putting it towards vacation.

[Vizth Hal]

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This year it's going to my folks because they bailed us out when he hit a massive patch of bad luck.

[ralgith]

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I assume he should be we? Or are there things you need to tell us?

[Vizth Hal]

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its we <.<

[AnthonyG]

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Because of my business's, I have on the books taken a loss for the longest time due to equipment depreciation and tons of write offs. Aside from my direct income tax, I have not paid any capital gains tax for the longest time. I usually get all my federal and part of my state tax back I usually use it to do the shit I wanted but didn't feel like spending money on it at the time. I think this year will be buying a big tool chest for all my shit and some truck mods.

[Twitchin Kitten]

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I'd like to do like Twist and throw it in for a vacation somewhere. Jesus we haven't gone away for a real vacation in like 13 years. We can't until the dog dies. She can't be kenneled. Last time we did that she was so traumatized afterward for months. I have no one to stay with her and she is just so old now the stress will most likely kill her.