Reset Password
Reset Link Sent
| Blogs > shuel2002 > Speak Your Mind |
|
TAX REFUND - HOW WILL YOU SPEND IT? I just filed my tax return today. Thank heavens that's over with for another year. I used to do personal taxes for others at my job, a lifetime ago. I enjoyed doing taxes at that time. Now, not so much. Do you have plans for what you'll do with your tax refunds, for those expecting money back? I don't know about the USA but in Canada we do it all electronically if we want to. That's how I did mine. It's wonderful doing it that way because you could see how different options pan out. Whatever way you do it, don't be late!!! The government loves charging exorbitant interest on unpaid taxes.   Elaine Shuel |
|||
|
In Canada, we don't pay when we're in the hospital, unless we upgrade to a better room. The fact is that the more we earn, the more likely we won't get a refund. Thanks for your comment, Lucas.  Elaine Shuel
| ||
|
Elaine, I have an accountant who is more than reasonable (in terms of cost). He handles both my personal and home business. I am in the process of getting that ready for him now. We'll see about the refund! lol
| ||
|
Things may be different in Canada. We do get interest if we overpay, as far as I know. The interest they pay is nothing compared to the interest they charge. Clearly that isn't fair but that's the government. Nice that you'll be treating yourself to something you want. I hope you'll enjoy your new shower, Pat. Thanks for your comment. Elaine Shuel
| ||
|
Elaine, I have an accountant who is more than reasonable (in terms of cost). He handles both my personal and home business. I am in the process of getting that ready for him now. We'll see about the refund! lol Good luck in getting that refund!!! Thanks for responding to this post.Elaine Shuel
| ||
3/31/2015 9:07 pm |
I have my state back and should have my federal any day. It is a generous refund because I have my personal income taxed at the rates I would owe if I had no deductions but for the past 4 years have had lots of eligible deductions related to my residence facility. This years will go to expenses to take my daughters and sister to Cape Cod MA in August for my nephew's destination wedding. The rest will be stashed away with the last 3 years refunds so I have a decent cash flow so my local sister and I can move things around to wrap up settling the family property situations. It's a long process From 5 houses in 4 states 2 years ago we now have it down to 3 properties and 2 state. End goal, a year from now, is 2 properties here in CA free and clear and in a family trust. The lake property has been that way for several years now so at least I didn't have to worry about that one. Spiritwoman ^i^
| ||
|
What's a refund?? I have no way to manipulate any deductions so if I didn't have enough deducted at source I pay. If I had too much deducted, they give me some of my money back. Oh well....Eric always said that you should be happy to pay taxes since it means that you made money.....sighhhhh.
| ||
|
I have my state back and should have my federal any day. It is a generous refund because I have my personal income taxed at the rates I would owe if I had no deductions but for the past 4 years have had lots of eligible deductions related to my residence facility. This years will go to expenses to take my daughters and sister to Cape Cod MA in August for my nephew's destination wedding. The rest will be stashed away with the last 3 years refunds so I have a decent cash flow so my local sister and I can move things around to wrap up settling the family property situations. It's a long process From 5 houses in 4 states 2 years ago we now have it down to 3 properties and 2 state. End goal, a year from now, is 2 properties here in CA free and clear and in a family trust. The lake property has been that way for several years now so at least I didn't have to worry about that one. Wow, you have so many homes. Thanks for responding to my post.Elaine Shuel
| ||
|
I hope one day you'll get that refund cheque and enjoy spending it, Renee. Thanks for your input. Elaine Shuel
| ||
|
I probably didn't get enough tax taken off at source so will end up paying. My brother in-law does my taxes and I haven't heard from him as yet. I sent all the receipts to him at the beginning of March. As they aren't due till the end of April I will not be worrying too much about it till then.
| ||
|
What's a refund?? I have no way to manipulate any deductions so if I didn't have enough deducted at source I pay. If I had too much deducted, they give me some of my money back. Oh well....Eric always said that you should be happy to pay taxes since it means that you made money.....sighhhhh. Elaine Shuel
| ||
|
I probably didn't get enough tax taken off at source so will end up paying. My brother in-law does my taxes and I haven't heard from him as yet. I sent all the receipts to him at the beginning of March. As they aren't due till the end of April I will not be worrying too much about it till then. Forget I brought it up.  Elaine Shuel
| ||
|
I don't think anyone could do my taxes so you're lucky, frenchsalsa. It's hard when your income is derived from many sources. i don't get a T4 (a Canadian tax form) for my royalties since my sales are from outside Canada. They are also paid in various denominations, to make matters worse. It's quite a pain to do. Good luck in getting that refund!!! Thanks for responding to this post.
| ||
|
What's a refund?? I have no way to manipulate any deductions so if I didn't have enough deducted at source I pay. If I had too much deducted, they give me some of my money back. Oh well....Eric always said that you should be happy to pay taxes since it means that you made money.....sighhhhh.
| ||
|
Elaine, I also have clients outside of Canada, mainly US. So no, I don't get a T4 from them either but I do get one from the bank and of course any monies received is deposited into my business account. Yes, it is a pain, including the investments from other sources. So I think I know what you speak of. Good luck with yours! Elaine Shuel
|
×
×