Tax return ballers, what are your plans in the upcoming months with your funds?

[Brown_Pride]

let me ad this...
IF you're not going to set that money aside and NOT USE IT. Then stick to your current "government savings account" and continue on. The last thing you want is for APril 15th to roll around and you owe the government 8k in taxes but done spent up all your "savings".

Not a good look and they will come after your shyt.

BUT,
if you can be disciplined enough and shove that money into a savings account then you can keep more of your own money and have it work for you rather than big brother.

 

[88m3]

learn how to manage your money, why are you getting thousands back from your returns?

Might put a down payment down on a house or condo.

 

[Mr210]

samething I always do, put it towards my bills and alittle in savings

 

[Slystallion]

Honestly, I have no clue why I got 3,500 last year though

because thats whats left from your withholdings after you paid whatever taxes you do actually owe after exemptions personal deductions credits and or any dependents

 

[ltheghost]

Rainy day fund. Usually I would spend it over the next three months. But this year work has been good to me! LOL

 

[Just like bruddas]

refund? I'm with domingo on this.
You need to put 22 dependents and then shove about 25% of your money into AT LEAST a savings account and then when you do your taxes send uncle same what you owe from that account.

When the government gives you money back it means they've been using your money for the entire year and not giving you interest on that money. Just don't do what i did last year and forget to adjust for raises and such

 

[Just like bruddas]

@Brown_Pride @Domingo Halliburton @Slystallion

Basically what your saying is instead of overpaying the government all year around, just find out how much you really owe them and pay them when they want?

 

[the cac mamba]

prolly 1500-2000, put it straight into student loans

 

[acri1]

I'm single with no kids/house, so I'll probably get raped. I'd be surprised if I get a significant refund.

 

[88m3]

I'm single with no kids/house, so I'll probably get raped. I'd be surprised if I get a significant refund.

You could walk away with 40-60 racks, breh. You know never know.

 

[无名的]

IRS probably reading this thread. Watch what you say.

 

[Domingo Halliburton]

@Brown_Pride @Domingo Halliburton @Slystallion

Basically what your saying is instead of overpaying the government all year around, just find out how much you really owe them and pay them when they want?

it depends. If you like it as basically a forced savings and like getting the big windfall then go ahead. Otherwise I'd say adjust your withholdings as you could of had that 2 or 3 grand throughout the year.

 

[The_Unchosen_One]

going towards my new car fund

 

[Brown_Pride]

@Brown_Pride @Domingo Halliburton @Slystallion

Basically what your saying is instead of overpaying the government all year around, just find out how much you really owe them and pay them when they want?

basically. And like i said and Domingo said if you want that all in a big check at the end of the year then don't change a thing. I told my cousin about this and she got the idea but wasn't smart enough to NOT touch that money when tax time rolled around she didn't ahve the money to pay her taxes.

IF you do this just treat that money as already belongingto uncle sam...

Another thing i used to do when I was a little younger and just starting my fam was change my rate in the beginning of the year to something reasonably low, then mid year i'd hike it up. It made sure I paid my taxes but freed up cash during the holidays and such

 

[Just like bruddas]

basically. And like i said and Domingo said if you want that all in a big check at the end of the year then don't change a thing. I told my cousin about this and she got the idea but wasn't smart enough to NOT touch that money when tax time rolled around she didn't ahve the money to pay her taxes.

IF you do this just treat that money as already belongingto uncle sam...

Another thing i used to do when I was a little younger and just starting my fam was change my rate in the beginning of the year to something reasonably low, then mid year i'd hike it up. It made sure I paid my taxes but freed up cash during the holidays and such

I gotta start fukking with higher learning more, thanks for the info breh.