I know that we are a few weeks away from even beginning to think about taxes, but I’m already there.
My taxes are incredibly straight-forward and I usually file straight-away. I don’t own a home or business and I don’t itemize. My charitable donations each year range from $200-$500 and I don’t feel it’s worth the extra trouble.
It takes me roughly 10 minutes to complete my taxes online using the TurboTax website. I usually get a return just north of $1000.
There are innumerable ways to look at a tax return. As a windfall, a boost to short or long-term savings, an opportunity to pay for a yearly expense (such as car insurance or property taxes) or a means to pay down debt.
I will (begrudgingly) use a large chunk of my return to pay down debt. More specifically, that B of A card with the ridiculous APR. I would also like David and I to put $100 to $200 apiece into our Travel Fund.
Are you expecting money back from the government this year? If so, how do you plan on spending (or saving) the money? Do you traditionally use your tax return for something specific each year? Or do you – God forbid – usually owe?