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Thread: What have you done/plan to do with your tax return

  1. #1
    Right Guy DungeonMasterJim's Avatar
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    What have you done/plan to do with your tax return

    Mine's not a huge amount being a single guy with no dependents but even so here's my list:

    Dragon Con 2011 vacation in September
    Christmas 2011
    some dental bills that healthcare didn't cover
    some $$$ for the benefit for my cousin
    some minor wardrobe purchases totally about $70
    some minor household purchases totally around $20
    weekend excursion of Connecticon 2011 in July

    If I find I have some left over it'll likely go towards the principal on my house.

    DM Jim
    Oh and if a mod would kindly delete the living hell out of this tread so I do not continue to look like a total tool, I'd appreciate it.

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  2. #2

    Re: What have you done/plan to do with your tax return

    I'm a waiter.

    No return.

    Luckily I'm smart enough to set a bunch of money aside for taxes, and usually I find I owe less then what I've saved, so that's my equivalent to a return.

    The left over money for this year is going towards a few trips I want to take this summer: my yearly pilgrimage to Florida, and trips to see college friends who have relocated to Pittsburgh and L.A.

  3. #3
    Right Guy DungeonMasterJim's Avatar
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    Re: What have you done/plan to do with your tax return

    I've never been a waiter, Ravenwing. Is there a different way that taxes are done for waitstaff? I've always had the job take it from my paycheck on a weekly basis. Or when I'm unemployed I make sure to have taxes taken out so I avoid the horror stories of getting hit later on with a huge tax bill. Sounds like you know your business and prepare for it which is good.
    Oh and if a mod would kindly delete the living hell out of this tread so I do not continue to look like a total tool, I'd appreciate it.

    - a wise man


    My comic - The Necropolis Chronicles - can be bought here:
    Issue 1, 24 pages:
    http://www.indyplanet.com/index.php?id=152
    Issue 2, 24 pages:
    http://www.indyplanet.com/index.php?id=151
    Book 2, 48 pages, all new story arc:
    http://www.indyplanet.com/index.php?id=4454

  4. #4

    Re: What have you done/plan to do with your tax return

    Well, it depends on the restaurant.

    Typically, waiters are paid by the restaurant far less then a living wage ($2.83 is the current "server's minimum wage" established by the U.S. government) and their actual income is made up mostly with tips, which are traditionally taken home in cash by the server at the end of the night. These restaurants all appropriately tax your tiny salary but the way they handle your tipped income varies from restaurant to restaurant. Some collect all your tips, tax them, and return them to you in a check with your salary. Waiters being an impatient brood, this method is not popular. Others ask you to declare your tips to them at the end of each night, and take the tax out of your salary, often resulting in the complete elimination of your check. This can be dangerous because the manager might not mention to you that your taxes after a few good nights outstrip your salary, meaning you owe money, which you might find out only when you file your return. The third method, employed by the restaurant where I work now, is to tax the salary and let the waiters deal with their tips on their own. This means I will always end up owing hundreds of dollars at the end of the year. To guard against this, I put one third of my tips into a money market account each week which I never, ever touch until tax time comes. As I said, I often find that I've saved more then I need to pay, which I sort of my emotional equivalent to a tax return.

  5. #5
    Made Kevin T Brown's Avatar
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    Re: What have you done/plan to do with your tax return

    Part of it went to stuff around the house, part of it to savings, the rest is earmarked for the trip to New Orleans for my and my wife's anniversary in May.
    The floggings will continue until morale improves. ~ anonymous

  6. #6
    Moderator Corrina's Avatar
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    Re: What have you done/plan to do with your tax return

    Apparently it's going to college tuition for my eldest. And that's about it.
    A Jewish seamstress in a steampunked Victorian London hires a consulting detective to solve a magical murder mystery.
    --The Curse of the Brimstone Contract by Corrina Lawson

  7. #7
    Right Guy
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    Re: What have you done/plan to do with your tax return

    I bought a DVD set I wanted, and signed up for DC UNIVERSE: ONLINE.

  8. #8
    Trouble Boy Matt_Y's Avatar
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    Re: What have you done/plan to do with your tax return

    I bought a Coke.

  9. #9
    Made bert's Avatar
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    Re: What have you done/plan to do with your tax return

    some went to our Hawaii vacation
    some will be used on our vacation
    some went to clothes (for the vacation).

    and the rest went into the bank -- to be used towards Dragon*con, Birthday gifts, payments towards the Mortgage, and possibly a new car for me (but holding off just in case I switch jobs).

    yeah. . we got a healthy return this year
    "do what bert says" - Flamestar (c/o Ouzo Man)

    A sandwich is a sandwich, but a Manwich is a meal

    "Evil people can do some non-evil things, and most of them do. That doesn't mean they aren't evil." -- JeffereyWKramer


  10. #10

    Re: What have you done/plan to do with your tax return

    Wait.. you got money back?

    First year i didn't

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