Comments on: I Like Getting Tax Refunds

By: I am a Tax Procrastinator | Well Heeled Blog

I am a Tax Procrastinator | Well Heeled Blog — Wed, 13 Apr 2011 00:37:25 +0000

[...] though with a refund I am technically giving the government an interest free loan. The truth is I LIKE tax refunds – they are an enforced way of saving. Not to mention that given today’s historically [...]

By: Redeeming Riches

Redeeming Riches — Mon, 19 Apr 2010 14:19:13 +0000

Most people don't save the refund throughout the year, so the argument oftentimes is moot. So, if it's a forced savings or a way to fund your vacation plans – so be it. A couple grand isn't too much to worry about, but I know of people who get $7-$10k back and that seems a bit much to me. At that point, maybe one should think differently.

By: The Yakezie Challenge Carnival #8 – Tax Day Edition! | MyMoneyMinute.com

Mon, 19 Apr 2010 08:54:06 +0000

[...] Well-Heeled Blog — I Like Getting A Tax Refund [...]

By: La Vida Katie

La Vida Katie — Wed, 17 Feb 2010 23:34:15 +0000

I like getting refunds, too, but it's not happening this year. I link to your post on mine about tallying the 2009 tax damage: http://lavidakatie.blogspot.com/2010/02/taxes-don...

By: Don@MoneyReasons

Don@MoneyReasons — Wed, 17 Feb 2010 05:02:47 +0000

I'm with you on this one! I love getting my tax return too. If I took the proper allowances, I would probably spend the money during the year! This way it's a forced saving account!

Thanks Uncle Sam (sort of :p )!

By: Eric

Eric — Wed, 17 Feb 2010 02:12:19 +0000

Knowing you, I would guess that a big portion is going to a retirement account?

By: onegirl

onegirl — Tue, 16 Feb 2010 23:32:55 +0000

Hmmm..I couldn't see this box from work. Maybe they are banning posting to blogs during the day. HA!!HA!!
It seems that everyone is getting a large refund this year. I guess I better hurry and file so I can get my large refund as well. I made a few changes this year, so it should work in my favor. Thanks for getting back to me so quickly.

By: Kim

Kim — Tue, 16 Feb 2010 22:44:25 +0000

Yeah, I didn't qualify for Free Federal when I did my 2008 taxes (income was too high), but I should qualify this year. Not sure why I started on Deluxe…it's about $25. That plus the $27.95 for CA brought me up towards $60.

I wonder if I can go back and do a Free Federal, even though I've already started the process with a Deluxe…

By: WellHeeled

WellHeeled — Tue, 16 Feb 2010 22:23:19 +0000

I did the Free Federal filing with TurboTax, and I paid $27.95 to file CA taxes… if your tax situation isn't too complicated I don't see why you can't file for free federal. $60 seems high.

I was really happy about the first $2,400 tax-free exemption, and I'm with you on thank you to California!

By: Kim

Kim — Tue, 16 Feb 2010 21:13:05 +0000

I was just thrilled to get a refund at ALL this year! I did not withhold anything from my unemployment checks (I couldn't afford to; I needed that whole check!), so I was expecting to owe big time. Luckily, I found out that the first $2,400 of unemployment pay is tax-free for federal, and the whole darn thing is tax-free for my CA state taxes. Thank you, California! So yeah. I am getting a few hundred dollars back…as soon as I get my paycheck and can afford the stupid $60 TurboTax fee.

I've thought about doing my own taxes, but TurboTax makes it so easy! $60 seems high to me, but maybe it's just better this way? Easy, and I know it's all right.

By: RainyDaySaver

RainyDaySaver — Tue, 16 Feb 2010 21:07:12 +0000

I tend to get a refund because I claim zero on my W-2 so I don't have to owe money due to freelance writing work. But many people — like newer homeowners — get a refund due to the deductions they can claim on mortgage interest and property taxes. In those cases, unless you have your employer take out a lot more taxes out of your paycheck, a refund can't be helped. I also like getting refunds!

By: WellHeeled

WellHeeled — Tue, 16 Feb 2010 19:11:58 +0000

Congrats on your refund! How are the solar panels working for you?

By: WellHeeled

WellHeeled — Tue, 16 Feb 2010 19:11:20 +0000

Tango's responsible, right? I think I'm going to save most of it, but there will be a few hundred bucks of play money for travel.

By: WellHeeled

WellHeeled — Tue, 16 Feb 2010 18:57:55 +0000

Spend it! Just kidding! I think most to savings and some to travel expenses. Oh, and of course it will also subsidize my tango habit.

By: Lindsey@pickyeatings

Lindsey@pickyeatings — Tue, 16 Feb 2010 17:38:15 +0000

I'm with you on this one. I'm a total personal finance simpleton (and fine with that!), but I'd rather not owe money at the end of the day. I'm also not someone who counts on my refund to pay for things, I think of it as something I can either invest or use to put towards something I wouldn't have at that time (as in a car loan, yes, I know, they are evil and should be avoided).

By: Laura

Laura — Tue, 16 Feb 2010 16:44:19 +0000

I'm totally with you! It's a great little bonus… in my industry I don't get bonuses, so I kinda like it too! I got a huge refund this year… mainly due to installing solar panels.
congrats on your bonus! save is wisely

By: Daniel

Daniel — Tue, 16 Feb 2010 16:12:25 +0000

What are you going to do with it??

By: girlmakescents

girlmakescents — Tue, 16 Feb 2010 15:47:29 +0000

What are you going to do with it?