It's Tax Refund Time (hopefully)!
 

If you got more money back than you expected, where would you book an impromptu vacation to this year?

A few days in Venice.

It depends on how much more :)


California or DC if it's not a huge amount.

London and Spain and maybe Italy if it's a ton.

Buy gold, silver anything that retains value or spend it all partying. Either have a lot or nothing at all, both ways, you'll be o.k.

My refund will be 2 months delayed, because they claim to be suffering from an overload of work... I don't care for the money anyway, how nice of them to inform me...

A daytrip to Italy maybe, but that's not expensive enough.

A weekend shopping in Boston maybe, if there's still anything left to buy.

Anybody who gets back more money "than they expected" is not handling their finances properly or is not paying attention to them. Also, one shouldn't be getting back a lot of money in refunds, or you aren't handing your money well, and if you did because of mismanagement, blowing it on a vacation would only perpetuate such financial mismanagement. I really don't understand why you think being financially ignorant is a good idea.

I heard that folks might be getting tax refund I.O.U.s. I ought to send them an I.O.U. when I have to again pay out thousands! Happy Travels!

Guenmai, that's true in California - heard it on the news last night. The state has run out of cash.

Oh, and I really have to agree [economically-speaking] with Christina. It's not like you're getting money that belonged to someone else -- you're getting back your own money that you overwithheld in the first place.

What is this refund that you speak of (says the SEP quarterly taxpayer)?

I'd be interested to see how many folks on this board do withholding, and how many have to write the SEP checks.

True...one IS getting back over withheld money, but it's good to just get back money! Sure beats paying out. Smiles. And as for our state, California,our taxes are high. Happy Travels!

My refund paid for my trip to Hawaii last year. I have an appointment with my accountant tomorrow and hope it is enough for most of air/hotel for tuscany the end of March. I withhold correctly but itemize so have been getting a nice chunk back the past couple years.

I'm in California, too, so believe me, I know how high our taxes are!! I know it feels a lot better to get a refund than to have to write a check, but NEITHER should ever be in a big amount.

Vicky, sorry, but no, you don't withhold correctly if you're getting back a big refund --- you are overwithholding. Withholding is meant to cover what your taxes will be (whether you itemize or not), not to float the government a loan.

Sorry, but if you live in CA there will not be a refund this year. They just announced you will get an IOU.

Right, depends on how big.

If it's small, I'd stay domestic and go to CA or FL (I'm from NY and I'm sick of this weather we are having).

If it's big :-) I'd go to South America - Chile (wine country) and/or Peru (Machu Picchu)..

<i>If it's big I'd go to South America - Chile (wine country) and/or Peru (Machu Picchu)..</i>

And if it's REALLY big, while at Macchu Picchu, you could stay at The Sancturary. :-)

I purposely &quot;overwithhold&quot;--that money would make next to nothing in interest in a savings account anyway (provided it even made it into savings), and I like getting a lump sum every spring right at vacation time. I like the assurance that I will never have to write a check at tax time, and it isn't that much money in the bug scheme of things.

Christina:

This wasn't meant to be a forum on Financial Tax Planning 101. It's called daydreaming about what you would do it you could do it. That's all...

Of course getting a refund means you didn't withhold appropriately, but hey, let's have a little fun and engage in some wishful thinking. We could all use it in this gloom and doom world.

Right on sf7307!

Here, here, Guenmai!

&quot;True...one IS getting back over withheld money, but it's good to just get back money!&quot;

I'm a Californian too, and when it's time to file and they give me money back versus the alternative, that's a good day in my book!