Just got my income tax return done. Getting an over $500 refund. Thinking about getting a batch of projects from a mrring freind of mine and then taking the rest to get an MSHA certification and a class A CDL so maybe I can get a job at one of the Powder River Basin Coal mines.
Those are my plans with my Tax Refund. What are yours???
Due to a new tax deduction (5lbs 8ouc) last year and a rather sizable RRSP (like a 401k) contribution I’m looking at a 8-9 thousand dollar return. Seamt like a alot until I realised that I paid $57,000 in income taxes alone last year.
Well, I’m getting some $850 back in taxes, being a full-time student and all. The majority of it is going to my car for a little customization. I’ll be getting…
-Airhorns
-New sound system, including stereo deck and six speakers
-Possibly new headlights
-Replacement bulb for side marker light
-Maybe even a new air filter or air intake system
-Fuzzy rear-view mirror EightBalls[8]
Too bad I may not have some to spend on trains…[:(] But I’ll have a cooler car.[;)]
Paying off bills. Ive already reached my annual hobby spending for the year. Any spending is going to be for provisions and needed hobby supplies like paints etc.
Our goal is to be debt free and we are almost there. Once everything is paid off then we will enjoy the hobby in a big way. But right now getting free from the interest and debtors is more important.
Well, I kind of started this thing rolling a couple of weeks ago when I posted pictures of my income tax refund. For those of you who might have missed, here she is again:
And for those of you who say that we brass collectors never run the stuff we buy:
GET REAL!!
Tom
[#ditto] Refund? When someone gets a refund that means they let them have more of money then they deserved. That means that money wasn’t earning more money during that time. I always write a check.
For you guys who are all getting insane amounts of money back from the government, I hope you realize that are giving our illustrious politicians an interest free loan for 12 months!!! Now that I have told you a bit of financial info, the ball is in your court to make one of the following choices for 2006:
Adjust your W4 form with your employer so you get as close to $0 back as possible
that way the $$ are in YOUR pocket each payday. ( Less taken out for Fed taxes )
You like getting all that surprise $$ back each year. Well then, follow directions in 1
above and take the money each week a place in CD for 1 year and earn interest as
well, that way you will get even MORE $$ back each year.
Haven’t got the discipline to save the money each week? Tsk, tsk, thank you from
your Uncle Sam, I love using your money each year for free for 12 months, and giving
you ZERO interest…your such a nice guy,… foolish…but nice.
But it WILL get spent once it reaches the bank. You get taxed on the interest they give you if it is a sufficient amount of money annually at the bank.
But we are on budget and on time with our obligations, our Government is running a deficiet since the Carter Administration.
The US deficit is extremely worrying, time to pick eaither Guns or Butter. I previously held my savings in USD (since I was paid in USD when I lived in Manhatten and Moscow). Well once we moved to Toronto and decided to finally put down roots, I converted most of that to Canuck$ to buy a house at US$0.65=C$1.00, well 3 years later its C$1=USD0.85. If I’d have waited 2 years my life’s savings would have been slashed by 20%. Conversely the weak USD also makes it attractive to purchase more trains from US e-tailers.