How will you use your tax refund?

[txfriend]

We pay our tax quarterly and more at filing. I like it, shows we have a good retirement income and the effective rate is only around 12%.

[KathrynAragon]

I can't remember the last time I got a tax refund.

[Jeo123]

I got married this past year. Happy with the result, lead to a $4k refund(wife's ok too I guess ). We got the refund primarily because we had been withholding as single most of the year but switched to married at the end.

Not sure how I'm going to "use" it, since I don't normally believe in spending money just because you have it.

I ran some numbers, we could pay off out mortgage by April 2017 if I wanted. I could put it towards that, however I think we're looking at making a move to our "family house" sometime next year as well, so I don't think it's worth it(the bulk of that comes from money separate from our return anyway, just ruling out mortgage pay down as an option).

Overall, we're set in terms of retirement/emergency fund. I maxed out my 401k last year, probably will do the same again this year, she currently does a bit more than the company match on a 403b, so we could increase that if we wanted(however we preferthe flexibility at the moment). We don't qualify for IRA options other than possibly a back door conversion, but ultimately I think we're ok on saving for retirement.

So since emergency fund is set, retirement contributions are solid, we have no debt beyond the mortgage, I'm currently leaning towards a honeymoon level 1 year anniversary trip.

[TheWayISeeThings]

Originally Posted by TheWayISeeThings

100% into savings.

EDIT: Apparently it will go to vet bills. I guess I'm glad I got a decent amount in the end.

[Qwerty]

Originally Posted by KathrynAragon

I can't remember the last time I got a tax refund.

Pay more in quarterly business taxes and you will get a refund. It will be just like the W-2 employees having more withheld out of their paychecks each pay period. It's not like this is just magic money that shows up at the end of the year.

[KathrynAragon]

Originally Posted by Qwerty

Pay more in quarterly business taxes and you will get a refund. It will be just like the W-2 employees having more withheld out of their paychecks each pay period. It's not like this is just magic money that shows up at the end of the year.

Why would I do this? Why would I let the government "hold" my money when I can just put it in some sort of savings account?

And of course you know that many people actually do get more of a refund than they paid in, right? So in a sense, yes, it IS "magic money" that shows up for people whose tax returns exceed the tax amount that they paid in.

60 Percent of Households Now Receive More in Transfer Income Than they Pay in Taxes | Tax Foundation

http://www.geeksonfinance.com/info_8...turns-pay.html