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$4500 tax refund

March 25th, 2019 at 06:17 am

It's been a long time since we got a tax refund. It's a bit surreal. Anyway we got back $4500. I know it was an interest free loan to uncle sam but I thought we were going to be owing so it was surprised.

Now what to do with the money? I don't have a clue. Guess just pay our bills.

I know doing taxes a lot of people were surprised both ways. Some were shocked by how much they owed. Mostly because the IRS changed the withholding tables. So people who didn't change anything owe a lot unexpectedly. Then there were those expecting to owe and getting larger than expected refunds. People who normally owe so they kept on paying.

I think all these new tax laws changes shocked people.

Posted in Savings, Spending | 4 Comments »

4 Responses to “$4500 tax refund”

  1. mumof2 Says:
    March 25th, 2019 at 06:57 am 1553497058
    1553497058

    wow that is a great refund...if you don't have an emergency fund then it would be a great start for one...I would save as much as possible if you can unless there are bills that you need to pay off

  2. creditcardfree Says:
    March 25th, 2019 at 12:45 pm 1553517909
    1553517909

    We ended up with a larger refund too...ended up taking the AOTC for our younger daughter, when I didn't originally plan to. I believe I did adjust withholding after the tax laws were more clear. Your observation of people's reaction just shows the lack of knowledge many have when it comes to income taxes, and how complicated taxes can be.

  3. crazyliblady Says:
    March 25th, 2019 at 02:39 pm 1553524740
    1553524740

    Congrats on the refund. That is a large one. I would personally advocate for paying off any debts you have, some kind of savings, or putting it into retirement. But don't forget to have some fun, too!

  4. LivingAlmostLarge Says:
    March 25th, 2019 at 03:45 pm 1553528751
    1553528751

    I guess we could pay off our minivan. I think we owe $16k.

    Something interesting is that the tax tables were so bad this year.

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