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Filed my Taxes

January 24th, 2013 at 03:53 pm

I got all of my forms online this year so I can file early! Unfortunately the IRS isn't ready for one of my forms so I won't see my refund until late February.

I am getting 1927 back from the Federal and $597 back from the state. It turns out that I could claim the high insurance premium on my Ga return as long as I didn't itemize, which I didn't. That gave me an extra $200. I don't know the time frame to get that back. I am having both refunds direct deposited into my checking account.

Posted in Misc Thoughts and Updates | 12 Comments »

12 Responses to “Filed my Taxes”

  1. PNW Mom Says:
    January 24th, 2013 at 03:59 pm 1359043146
    1359043146

    Awesome! What do you plan on doing with your returns? Smile

  2. SecretarySaving Says:
    January 24th, 2013 at 04:02 pm 1359043374
    1359043374

    So all in all you are getting back $2127. What will your priorities be?

    Will you fund that Emergency Fund so that you don't have a panic like yesterday when you checked your account and noticed that something could have gone thru and added alot of overdraft fees for you?

    Will you also use the rest to pay off your credit card balance in full so you don't have to worry about that anymore? That would leave both of those 2013 Goals completed with $496 remaining for the hospital bill.

    Or are you going to book your NYC trip?

  3. creditcardfree Says:
    January 24th, 2013 at 04:08 pm 1359043735
    1359043735

    I bet you have the refunds by February 15, if they start processing right away at the end of January. Maybe sooner.

    And yes, we would love to know your plans for the money!

  4. North Georgia Gal Says:
    January 24th, 2013 at 04:11 pm 1359043862
    1359043862

    I need $500 for my budget shortfall in March. i will put $1000 in my checking account to purchase airfare and hotel to NYC. The rest will go into my savings account, with some of that delegated to the NYC trip.

  5. ironicone Says:
    January 24th, 2013 at 04:28 pm 1359044931
    1359044931

    If it were me, and I was struggling day to day, I would not be going to New York. I would still take a vacation, but it would be a much less elaborate one. Imagine how much less stress you would feel if you used the $2127 to pay off the credit card, and fund the emergency fund with 1000 dollars. You could then put the remaining $500 to the hospital bill, along with what is saved by NOT paying for the hotel room room while in NYC and make a big dent in that.
    When I was struggling paycheck to paycheck, I dreamed of big vacations but didn't take one until I could pay for it, while still paying my other bills. I couldn't imagine spending $2000.00 plus on a trip while still predicting a $500.00 shortfall for March. Did it suck then? Heck ya! However, there was a freedom in knowing that I would only to have to feel the pain temporarily. Is one week in NYC worth struggling to pay bills the rest of the year?

    One other thought- Can you adjust your withholdings so you can a zero refund next year? That should give you an extra $175 or so to live on per month this year.

    I know you want to give your daughter everything, and that is commendable. However, I grew up poor, and I would have never expected my parents to take me to NYC. It wasn't in the budget, and that was that.

  6. BuckyBadger Says:
    January 24th, 2013 at 08:49 pm 1359060576
    1359060576

    I agree with previous posters. I don't want you to think that we are all ganging up on you, but I think what frustrates us is that we can see how HARD you're really trying -- but then you make one decision that wipes out weeks of hard work.

    This is a LOT of money that you are planning on spending on a trip. I really think that if DD wants to go to NYC she can figure out how to fund it. Or better yet, maybe she just can't go. We all have things that we can't do. My parents weren't paying for ME to vacation in NYC when I was a kid.

    Remember how you were able to frantically add money to your account so that a double charged bill didn't send you into the red? Wouldn't it feel nice to know that an accidental double charge wouldn't wreak such havoc? Wouldn't it be nice to actually have your emergency fund?

    Please reconsider the NYC trip. I know you booked the hotel, but reservations can usually be cancelled. And - honestly - even if you can't cancel them and lose the $500 or so that you already spent, that's sunk cost, and by not going, you'll be saving another $2000 that you desprately need.

    We all want to do fun things, but it's just not a responsible idea to do them outside of our budgets. There are lots of nice mini vacations you can go on with your DD within driving distance of home.

  7. rob62521 Says:
    January 25th, 2013 at 12:35 am 1359074108
    1359074108

    Yay on the refunds!

  8. Joanne Says:
    January 25th, 2013 at 01:03 am 1359075817
    1359075817

    That is really good that you are getting tax refund money. I would {if it were me}, pay off the credit card bill, as much of the hospital bill as I could.} And, I would put the remainder into an Emergency fund, that you could use as a start, and try to add to, even if it"s only a small amount @ a time. Going to New York , sounds like alot of fun, but paying off those two bills, and having an emergency fund, will probably make you feel more secure financially. It's your decision of course, but I would take the less "fun", approach and pay the bills etc, first. Just my comment....

  9. FrugalTexan75 Says:
    January 25th, 2013 at 02:42 am 1359081751
    1359081751

    NGG,

    I saw the post where you were talking about the NY trip, but I don't remember the reasoning behind going. I do agree with the others that you might want to do some hard thinking about whether or not the NY trip fits in with your priorities. What would cause you to sleep better at night? Using the money to pay off the credit card and put money into an EF, or going on the trip?

  10. rachel021406 Says:
    January 25th, 2013 at 05:44 pm 1359135857
    1359135857

    You can do a lot with that money. I understand wanting to go to NY. I don't remember if you said how long you planned on being gone. Maybe you could reduce the trip by a day and take the money you would have spent on hotel, food, misc and put it in your emergency fund or pay of a bill. Just trying to find a happy medium. But it would be nice to have an emergency fund, pay off the hospital, and take care of that short fall. Do you still have the $200 AMEX card?

  11. scottish girl Says:
    January 25th, 2013 at 09:09 pm 1359148198
    1359148198

    That is a lot of money for one trip. Am I right in thinking that you're spending one night in NYC for your daughter's birthday? I agree with the others, having a credit card paid off or an EF (or both) could help so much long-term.

  12. Roger Hayes Says:
    January 26th, 2013 at 07:03 am 1359183788
    1359183788

    I've thought long & hard about how to reply kindly. You seem a decent sort, but your priorities amaze me. It's obvious that you work hard, and are very capable. In my opinion, as someone who has been there, your first priority should be to build an emergency fund. Your tax return would go a long way toward that. One of the first rules of survival is keeping a roof over your head. If I remember correctly, your parents are paying your mortgage. Why is that? Paying the debts you owe should be your first priority. Otherwise, you are just getting deeper in debt.

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