Income tax Refund ARRIVED !! Why do I feel

  1. like someone has "given" me something??? The United States Treasury kept MY MONEY for a whole year......

    I am a traveler,, have lots of deductions, paid a CPA $250 to do my return and my refund for $16, 980.00 came today.

    I feel like I inherited a windfall and am having an outrageous argument with myself over what to do with it.

    1/2 of me wants to "blow it" on something frivolous.

    The "sensible 1/2" says "pay off bills."

    Of course we all know what we SHOULD DO with small and
    large $$$ windfalls......

    Want to share?? What would you do with it??
  2. 21 Comments

  3. by   CountrifiedRN
    Put two thirds in investments or savings accounts, and with the rest pay some on bills and buy something frivolous.
  4. by   jayna
    Paid off my school bebts
  5. by   baseline
    $16,980.00 . Now thats amazing.
    Your stated refund is more than many people make in a year.
    Exactly what kind of tax deductions do you have exactly. I bet there are alot of people on this board who would love to know the answer to that!

    Have you considered what charity to donate some of this "windfall" too?
  6. by   baseline
    Maximize Your Tax Refund
    Thursday March 20, 10:46 am ET
    By Robert Brokamp

    According to the Internal Revenue Service, through the end of February, the average tax refund received this tax season has been for $2,136, a 2.2% increase over last year.

    Hey....really passin what ever....what the heck did you deduct?
  7. by   jnette
    My bills would be paid off IN FULL before I did ANYthing else !!! And paying cash from then on out !
  8. by   Heather333
    That sounds like an awful lot to be getting back in taxes. How did you manage that?
  9. by   baseline
    Really. I want the guy who got the 16,thou + for 250.00.........
  10. by   Lausana
    Who did your taxes??
  11. by   passing thru
    Well, for starters, obviously my agency took out too much. That accounted for about 8, 000 of it , I imagine...haven't done the math.
    I'm traveling..a travel nurse. I have a home in my home city. In my contract city, my monthly rent was $750. The rent & phone & utilities are deductible expenses. I can deduct utility bills, maintainance, security expenses, lawn maintainance at my home. Travel expenses to and from home several times in 6 months is deductible.
    The government has some "percentage" that the CPA's use as a basis for my living expenses in the contract city, so I don't have to save restaurant, grocery receipts....meals are deductible, but the CPA uses the percentage. I didn't ask what it was, as I don't understand that stuff and didn't care anyway.
    Look in your $10 tax book from Walmart/Walgreens/Eckerds, etc., that's what I use as a guide. it lists all the deductions from traveling....a lot of expenses are deductible. And, the usual nursing expenses,,,, I itemize, of course. And medical insurance is deductible, last years' CPA fee, safe deposit box, lawn maintainance while gone to contract city,...and yes, there are charitable deductions.....

    The reality is, ....I'll probably spend the money and IRS will probably audit me and declare a big chunk disallowable, and want 1/2 of it back in a year or two....who knows?

    This is the largest return I ever received.
    Maybe my time has FINALLY come. I paid over $32,000 three consecutive years in '97 '98,99. Was ""day trading""...taxes eat up the profits.

    I remember posting one time that I did not vote for the first Bush for re-election to president, because that year, his income and income tax bill was published in the newspaper. His income was over $500,000 . Mine, that year was $53,000 . I paid more in income taxes than he did. !!!!!!!!!!!!!!!! He was the one of ""NO
    NEW TAXES '''' fame..... infamy.

    I imagine $16,000 IS more than some people earn,, but not a traveling R.N. with > 20 years experience.

    Remember the ''How much do you earn?" thread?? there was several nurses on this BB who said they earn > $100,000 a year.
    There's quite a few nurses where I work making > $100 thou a year. And there's also several working two fulltime hospital jobs ! (2 different hospitals)
    However, I don't think they have the deductions I do.
    Travelers have great deductions.
  12. by   CountrifiedRN
    Last year we got back over $10,000. We bought a home the year before, and itemized, but the bulk of it was that we over payed during the year. My husband is always so worried about owing the government that he claims way less than he needs to on his WII.

    I was nervous getting a refund like that back, I was constantly waiting for the letter saying they were going to audit. I almost felt like we were doing something wrong, even though it was our money!
  13. by   RRMLPN
    I think i'll just hire Passing thru to do my taxes!!!! that refund is amazing, i'm still waiting on my measly little state tax to come in.
  14. by   baseline
    I'm waiting for the audit.