How much tax return are you expecting and what are you going to do with it?

[bigfatturkey]

owe federal tax but getting some back from the state tax for about the same amount owed to federal. so it zeros out. i like how it has worked out. it's my first year filing taxes....i did it myself and almost went mad. will definitely do better for yr 2010 'cos we don't qualify for much tax credits/deductions for yr 2009.

[dolphinebaby]

Eight thousand dollars, spent it on travelling already.

[floridasandy]

can we play if we don't get a return? i think it would be interesting to see how people who aren't getting a return would spend it also.

i would spend it on a las vegas trip, as it would be fun money.

[Cav Scout wife]

Originally Posted by Whereto?

Well I'm getting $5,500 back and am pissed

Getting a refund is not a sign of genius, it's a sign of mismanagement of your finances.

I wouldn't say that.

I made a considerable amount less last year due to chronic illness (ended up having surgery in Nov for it), and due to the reduction in income, we were able to get more of the EIC than normal, since our taxes were less. We are also self employed, and have to pay the full 15.4% of those taxes.

Usually we get a few hundred, but this year we got the majority of the whole thing, plus the extra $800 for the Sch M "making work pay" credit.

For us, it wasn't mismanagement, it was due to illness that we got a good chunk of change, lol.

Anyway, we put it on our down payment for the house.

[whosez]

$1500. It's going to pay for 2 months of our COBRA expenses.