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A New Record

February 2nd, 2015 at 12:26 pm

I just want to dance and shout and sing!

I was checking our taxes one last time before submitting, and I realized that I mixed up a 3 and a 7 on our state income tax. When I fixed the error I got an additional $400 back on our refund! We are getting a total of $2,100 which is the most we've ever gotten. Taxes filed.

Also, the lady who had me hold the car got her refund back today unexpectedly early, so she is picking up the car and paying tonight when she gets off work!!!

So that means, today I just made over $6,000! Whoot!

$1,000 will be going to the EF. We are paying OFF the line of credit, and the remaining $350 we are saving for our summer vacation.

After all the payments clear, I will be debt free again except for the mortgage! How exciting.

10 Responses to “A New Record”

  1. LuckyRobin Says:

    Woohoo!

  2. VS_ozgirl Says:

    Awesome!

  3. Ladya70 Says:

    Nice!!

  4. michdado Says:

    Wonderful?

  5. FrugalTexan75 Says:

    Sweet!

  6. snafu Says:

    Delighted the deal with the Cobalt will go through! The tax refund is your own money being returned, it isn't new income. The government has collected more from you & DH than you were required to pay. This may be as a result of your course work or some one-on cost. It's in your interest to review your tax deductions and have them corrected if needed. You are both financially savvy and disciplined to manage all your money every month.

  7. ceejay74 Says:

    Agreed with snafu, a big refund just means your monthly income was smaller than it needed to be. (Although an unexpected error in your favor is always exciting!) I'd be conservative about adjusting withholdings drastically since you just started a new job, but if next year your refund is this big, I'd look to adjust withholding so YOU have control of that money during the course of the year, not Uncle Sam.

  8. klarose Says:

    Snafu and Ceejay I actually had this included in my post, but it deleted and I had to retype and didn't feel like bothering with it.

    I PURPOSELY claim 0 deductions. While you guys might not agree, I enjoy getting a lump sum at the end, rather than get a bit more in my paycheck. In my paycheck most likely it would just get eaten up by daily life. Besides the fact that even if I did save it, I would make what, less than 1% interest. This way I know 100% of it gets saved. It doesn't work for everyone, but I have no problem "lending to Uncle Sam."

  9. ceejay74 Says:

    Well, when you're paying interest on debt that you'd otherwise pay off more quickly, that can mean quite a bit more than 1% loss. But it certainly is your decision!

  10. klarose Says:

    That is true. But we are talking a tiny amount of money. With the money I'm going to use to pay down debt, I would have saved less than $30, if I had applied it all to the loan throughout the year. With that small of a number, it doesn't really bother me. I'd still rather have the lump sum. Now if I had credit card debt, or a lot of debt, then yes. I think that would be a wiser decision.

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