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Tara Holloway, the IRS Special Agent in Diane Kelly’s book, Death, Taxes, and a French Manicure, fantasized about what to do with her tax refund. She noted that the $400 she was due was “enough to pay for the bikini I’d ordered and then some. Woo-hoo!”
Over the years, I’ve heard lots of great ideas for what to do with a tax refund. We’ll start with the boring and sensible ones. That’s the responsible thing to do, right?
Sensible tax refund uses
Fulfilling tax refund uses
Life has been tough for a while, hasn’t it? You’ve probably been dealing with cuts in income, earnings, or benefits. If you’ve been lucky enough not to be hit, it’s likely several people close to you have been—and you may even have been helping them. Regardless, you’ve probably put off indulging yourself for a while. Perhaps it’s time to do things you love.
For larger refunds, split the funds up between the sensible and the self-indulgent uses. Consider donating some of the money to your favorite charity. And don’t hesitate to use some of the money on someone you love.
Money Management Tips: Storing Your Paperwork
Last-Minute Ideas for Saving Money on Your Taxes
Documenting Your Donations for Tax Deductions
Tax Deduction for Claiming Elderly Relatives and Dependents
Tax Tips: Tax Implications of a New Baby
Paying Taxes on Self-Employed or Side Income
The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.
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