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Taxes are Done

February 15th, 2015 at 12:16 am

DH finished and sent off our taxes tonight. We will be getting back $7133. And before anyone goes saying that that is too high and we shouldn't withhold so much money so we can have more money during the year, there is nothing we can do about this. The majority of it is from our medical being reimbursed and most of the rest is from the ridiculous amount of money that was taken out of DH's bonus.

Some of this money is earmarked for college (both DH's and DD's), but I will take and throw $1000 in the Emergency Fund when we get it back. And I would like to be able to pay for my daughter to take driver's training. I also believe there is a program now where a fifteen-year-old can get his permit before 15 1/2 with taking driver's training. DS will be 15 next month. So if we could take them to the same driving school and they could take it together that would be really good. I'd also like to get glasses and eye exams for everyone. But otherwise, yeah, most of it is for college.

DD has decided she wants to go to the technical college. She wants to learn how to do medical billing and coding and maybe some other administration things. Considering that more and more people are going to the doctor because of having forced insurance, it'll be a field with good growth and more importantly it will be a field where she can earn enough money to support herself on. It's also one that doesn't involve many other people and is often work from home even. With her extreme anxiety that would be very good for her.

She may still just take a year off and work before going to college. I am just glad we have a plan now.

It looks like we will get the refund in three to four weeks.


7 Responses to “Taxes are Done”

  1. creditcardfree Says:

    Nice refund! You have great plans for the money, too. Smile

  2. TD Says:

    What a great bonus to have this time of year! I find, too, that it's often easier to set aside money for those things that get pushed by the wayside when you get a big chunk all at once - so maybe it's better that so much gets withheld (whether you can control it or not). Sounds like it worked out well Smile

  3. FrugalTexan75 Says:

    I got my refunds about five or six days after I filed - so you might get yours much quicker than a few weeks. Smile
    It sounds like your daughter is really thinking ahead - good for her!

  4. LuckyRobin Says:

    Well, it would be nice to get it back that fast, but I think the fastest we ever got it back was 3 weeks and it is usually closer to five. Hopefully we filed early enough this year it will come quickly. Last year I think it was closer to mid-March before we filed. With it being a long holiday weekend, I hope it doesn't take longer. But since the money isn't needed urgently for anything, it won't be the end of the world if it does.

  5. Kiki Says:

    I am in the same boat as you. With the small business I never know what the revenue will be so I never know what to claim for withholdings. I always get a largish refund and now with the buying of the house it could become very crazy. I will ask my accountant what I should do with my withholding moving forward.

  6. rob62521 Says:

    Nice refund. And personally, I'd rather get a refund that having to pay. With interest rates as low as they are, it isn't like we'd get a lot if we had it to invest.

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