Wednesday, April 11, 2012

Me, Taxes & Big brother

Taxes~

No one likes paying them, right? Well perhaps only the 1% who gets taxed a third of what the rest 99% of the working people do. Now, I'm still baffled who came up with that theory and more importantly, why hasn't it been changed YET since there are more of us than them. But in our society it all boils down to who holds the most power and that of course is tied to the big dollars.

Well, as a working citizen without any children, paying taxes became the norm for several years to the point where my taxes were always done at the last minute or with an extension. Part of it may be that I do not have enough taxes taken out tthroughout the year but who said tax refunds were guaranteed or that I'll be alive each spring to get what shouldn't have be deducted in the first place (my analogy and I'm sticking to it...lol). 

At any rate, I've been having to pay back less and less in the past three years and FINALLY this time around; I'm getting back a refund from both the State and Federal (whoooo). Last year I got back for one but owed on the other which was still better than the year before of paying roughly one thousand dollars (and with that being the least ever owed, I sped to the credit union just before closing to get a cashier's check). That's correct, I was that excited. 

So, the question toiling in my head is what should be done with my refund coming to me.....let's face it my small refund is nothing in comparison to what the average American gets but it's almost doubled what I received last year.

I do plan on making good use of "some" of it in a way that will be visible to me. The options are endless (well not really but you get my point). Can you tell I'm excited? 

I'll have an update by May 20th to outline how it was used if not sooner.  

2 comments:

  1. Good for you!!! I'd rather owe or get back a little than a lot either way. Ideally I'd like a 0 balance but that one's hard to figure out and a boat I wish not rock.

    But on to your REFUND!!! hmm, maybe a little to yourself and the rest to debt or savings? What's at the top of your priority list? I'd put the bulk there.

    I look forward to your update, I know it'll be good. Also include how you came to your decision, it'll be interesting to see how you think things through. :)

    ReplyDelete
    Replies
    1. Ms.S, I will certainly provide an update and the reasoning behind it all.

      Delete