How much tax return are you expecting and what are you going to do with it? (old, money) - Frugal Living - City-Data Forum

Kleenex · 01-14-2010, 06:10 AM

i thought this might be an interesting topic to discuss....especially during this tax season and the current Econ. situation.

cheers.

Pitt Chick · 01-14-2010, 06:36 AM

Zero.
and nothing.

jtur88 · 01-14-2010, 08:27 AM

Being one of the frugal ones, I haven't filed a tax return in more than 20 years.

Kleenex · 01-14-2010, 08:54 AM

Quote:

Originally Posted by jtur88

Being one of the frugal ones, I haven't filed a tax return in more than 20 years.

frugal or criminal? lol

how do you get away with it?

christina0001 · 01-14-2010, 10:26 AM

I have no idea what to expect. I took a huge paycut last year, and had tuition expenses + medical expenses and I don't know how those may effect things. But whatever I get will go into savings (and will likely eventually go towards more tuition expenses lol).

wheelsup · 01-14-2010, 10:49 AM

Quote:

Originally Posted by Kleenex

frugal or criminal? lol

how do you get away with it?

Folks who make under a certain amount don't need to file returns. Given the choice, I'm glad I make over that amount to pay taxes...

formercalifornian · 01-14-2010, 10:53 AM

None or minimal. A tax refund is an indication that I have failed to manage my money wisely. Nobody gets to use my money for free.

briannasmomma · 01-14-2010, 11:00 AM

I guess my husband and I are young and dumb because we are expecting a refund of about 5000+. I don't work and my husband is in the Army and he claims 0 exemptions which is probably stupid considering we have a child. I would like to figure out how many exemptions we can claim so that we don't owe at the end of the year but we aren't receiving a huge refund. Anyway, with our refund we are just going to put it in savings.

formercalifornian · 01-14-2010, 11:20 AM

Briannasmom...you live, you learn. Since it's still early in the year, you have plenty of time to take a look at your tax documents and make adjustments to your with-holdings. In my experience, every extra dollar helps when there's a child in family.

jtur88 · 01-14-2010, 12:30 PM

Quote:

Originally Posted by Kleenex

frugal or criminal? lol

how do you get away with it?

I've been on SS since then, and have never since had income that was above the taxable threshold. In '91, when I filed with insufficient income to be taxable, they wrote back and said don't bother to file any more, unless your income goes up to a taxable level.