1 VF-1 2NV Posted January 13, 2005 Posted January 13, 2005 So what are you guys/gals going to do with your hard earned tax refund? With my share I'm planning to get a few sets of the 1/48 GBP when they are released, konig monster, and whatever else Macross goodies Yamato has in store for us provided I like it or them. On a side note, how practical are the tax software (turbo tax, quicken, etc...)? Will I be able to use them instead of a tax preparer to file my taxes? It seems that I will be taking the standard deduction instead of itemizing. Thoughts anyone.... Quote
one_klump Posted January 13, 2005 Posted January 13, 2005 hmm, I'm married with a child, so that useally means stupid amounts of cash at tax time I think I'm gonna hold back and only get the Monster... damn its sexy... Quote
GRAND CANNON Posted January 13, 2005 Posted January 13, 2005 So what are you guys/gals going to do with your hard earned tax refund? Beg the wife for coffee money that week.....kind of like what I do every week!! Quote
mechaninac Posted January 13, 2005 Posted January 13, 2005 Feel free to use your tax refund as you see fit; however, I like EXO's advice best: pay off debt. One more piece of advice: if you get a large refund, you should consider changing your W4 to increase your exemptions. While a fat refund may look good, it means that you over paid and the government got to use your cash interest-free for an entire year...not a good return on investment in my book. Quote
connor99 Posted January 13, 2005 Posted January 13, 2005 I'll be getting me two sets of the 1/48 GBP, an AOSHIMA ALIENS Dropship and maybe the YAMATO SCOPEDOG! Quote
Godzilla Posted January 13, 2005 Posted January 13, 2005 Feel free to use your tax refund as you see fit; however, I like EXO's advice best: pay off debt. One more piece of advice: if you get a large refund, you should consider changing your W4 to increase your exemptions. While a fat refund may look good, it means that you over paid and the government got to use your cash interest-free for an entire year...not a good return on investment in my book. Damn straight. It is the reason why I only paid nearly $40 to the US govt last year. I never over pay because the govt gets to keep the interest. Quote
eugimon Posted January 13, 2005 Posted January 13, 2005 yeah, I'll probably use mine to pay down my debt(s)... sob sob... but maybe I'll use some to get a GBP armor set... muahahaha. Quote
EXO Posted January 13, 2005 Posted January 13, 2005 I switched to where they took off more off my pay. I ended up paying the year before and I was close to paying last year. I rather get a return from the gov. than get a bill. As for interest, if they give me back what's mine and made a little off the top, then good for them. Hopefully it'll go to some good. As for interest of my part, i woulda just spent it on some toys anyway... consider it patriotic charity.. Quote
Jawjaw Posted January 13, 2005 Posted January 13, 2005 I sure hope I don't owe this year. This will be the first year I have dependents. I hope my kids pay off big time. Sadly, I need the money to pay the bills. If I could get one toy, I want that Koenig. Quote
phoenix01 Posted January 13, 2005 Posted January 13, 2005 Maybe I'll convince the wife to let me buy my second 1/48 Yamato VF-1. Hopefully I can find the one I want on eBay (VF-1S Hikaru). Quote
lt.actionjackson Posted January 13, 2005 Posted January 13, 2005 Man, paying off bills is sooo boring. I'd much rather fill my shelves with more toys so that my wife can say enedearing things like "Umm, you know you're not eight anymore, right?" or the classic "I just dont understand you and this thing with toys..." Quote
do not disturb Posted January 13, 2005 Posted January 13, 2005 I'll be getting me two sets of the 1/48 GBP, an AOSHIMA ALIENS Dropship and maybe the YAMATO SCOPEDOG! ahh, great minds think alike. i'm 100% debt free so my tax refund is going to be spent solely on me. Quote
ewilen Posted January 13, 2005 Posted January 13, 2005 I'd rather get a bill from the government than a check--it means I got to use that money (at least earning interest) all year before handing over my share. About tax software, if you use the standard deduction, your taxes are probably simple enough that you can use one of the free online tax programs. Some of them charge to do your state taxes, but the trick is that some will tell you beforehand what your bill/refund will be at various stages, even though they won't show you the completed forms until you pay. (This was the case with TaxAct.) So, if you're a cheapskate, you can use the state figures as a "checksum" and just do the forms by hand. Quote
bigkid24 Posted January 13, 2005 Posted January 13, 2005 Depending on my refund this year I'll make some changes to my withholdings. I'm planning on paying off some debt and then maybe saving up for the ultimate toy: a new car. If your taxes are really simple why even bother with tax software? Use a 1040 EZ. If they're a little more complicated that a 1040EZ wouldn't capture everything then go ahead and get the software but don't waste your money if you don't need to. And remember, if you do itemize, the cost of the software should be tax deductible. Quote
Godzilla Posted January 14, 2005 Posted January 14, 2005 (edited) Depending on my refund this year I'll make some changes to my withholdings. I'm planning on paying off some debt and then maybe saving up for the ultimate toy: a new car.If your taxes are really simple why even bother with tax software? Use a 1040 EZ. If they're a little more complicated that a 1040EZ wouldn't capture everything then go ahead and get the software but don't waste your money if you don't need to. And remember, if you do itemize, the cost of the software should be tax deductible. You cant use a 1040 EZ if you make over $50K a year or make too many deductions, etc. I know I cant. Edited January 14, 2005 by Godzilla Quote
bandit29 Posted January 17, 2005 Posted January 17, 2005 Eh no Macross stuff for me. There's not much more I'm interested in aquiring. Tax refund will most likely be used to pay off some debt. Quote
rocco_77 Posted January 17, 2005 Posted January 17, 2005 Got myself an early tax time gift.... The Monster... That sucker is really cool... One of my new favorites.. The rest of the return will undoubtedly go towards debt though... Quote
VF-1Guy Posted January 17, 2005 Posted January 17, 2005 I'm putting any refund I get into savings. I'm debt free (aside from the car which is on a 0% loan) and I have all the Macross stuff I need right now. Tax software is a great alternative to paying for a tax professional - it leads you through the process and asks all the pertinent questions. Since you're using the standard deduction it may just be easier to fill out the forms. The 1040 is fairly straightforward if you don't have to worry about itemizing, education, capital gains/losses, etc. Quote
magicsp00n Posted January 18, 2005 Posted January 18, 2005 Depending on how much I get, I'm hoping to pick up a 1/48 VF-1J. We'll see how it goes. This year I got married and bought a house, so I expect my tax situation to be significantly different, which hopefully means a bigger refund. Any extra I get goes to paying down the mortgage. I get really itchy about owing money, even on a house. Quote
Anubis Posted January 18, 2005 Posted January 18, 2005 I'll probably reserve mine for my Auto insurance, like last year. Quote
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