Tax season!!!!

[Will]

Awesome! Buying your fist home is a great experience.

It's probably his 3rd.

 

[Jspafford]

What kind of interest rate do you make with that?

My credit union has brought this idea up to me a few times. I don't remember the details, but I remember not liking how the interest rate can fluctuate...

Not near as much when I opened it. I started it with around $50. It was 4% APY... which is not much...

Somewhere down the line it is now down to 1.something % APY... Which on 1K equals about $10 a YEAR!

It is more of a non touchable savings account for me, with the added bonus of making a little money. I have a little under half the payoff of the wife's sport trac in there now, and hope to be to at least half after tax time.

Getting my commission axed this summer cost me over 5K, which along with the MM Balance would have paid it off...

X2. I look forward to tax time to get a refund. It won't be as much as it could have been though with the tax reduction.

Vanessa and I are hoping to buy our first house this spring, so we need the money to put down, closing costs, or somewhere in the new home process.

COngrats Jim... Do it before you lose the $8000 in free cash from Obama..

We bought our first house in June of 2008, and took the $7500 'credit' which sucks because I get to pay it back for the next 15 years out of my taxes. $500yrX15=$7500. I keep hoping they revised the bill so we can get the free money like the current credit offers.

EDIT: We have a lot of deductions, wife's student loans, house interest, money market interest, etc and I still can't believe how little of it we actually get back. I remember before buying the house everyone raved how we "got our interest back" when we filed taxes...

So where's my 3K?

 

[dburton07]

Last year was easy. This year on the other hand I have so many write off's from fireworks so I am going to have to see an accountant instead of Turbotax online.

I got a bonus from work that I get at the beginning of February which I am going to use to pay off my credit cards and some money I owe my dad, so I'm not sure what my return is going in to. Probably save it for first/last/deposit when the girl and I have to get a new apartment in May.