Question of the Day – Tax Refunds

Jan 27

Question of the Day – Tax Refunds

We’re getting closer to April 15th. Today’s question of the day is about tax refunds:

Will you get a tax refund this year? If so, what do you typically do with the money? Do you save it or treat it like found money?

We haven’t gotten a refund in years. This year we will owe more than usual thanks to entirely losing the child tax credit. My numbers aren’t official but it looks like we’ll owe somewhere around $2,100.

It’s almost mind-numbing when you think about how much you pay in taxes each year. I bet for us, our number is over $50,000 (federal, property, social security, medicare, sales tax, gas taxes, etc.). Makes my head hurt.

Your Financial Guide