Tax Refund Purchase?

[Muzzleloaderbill]

Ruger SR22, ammo 22LR & 9mm

 

[jontz]

I'll be getting....an insulin pump for my son. No guns with this refund.

 

[Darral27]

Well it was just surprising to find so many people who have very strong anti-establishment viewpoints who actually use the govt as a crutch because they can't be bothered with managing their own money. Honestly, in this group, I would have expected a huge amount to say they play it really close.

For most people it has nothing to do with their withholding. When you make below and certain level and have kids you get a earned income credit. You could have nothing withheld from your paycheck all year by the feds and still get up to a $10,000 refund I believe. Nothing to do with giving the gov't a interest free loan. Just the gov't giving out free money once a year.

 

[Dragon]

I planned on buying a Springfield Armory M1A and dressing it up a bit but I couldn't wait on my refund so I bought it last weekend. I got it with a Sage EBR and an SWFA SS 3-9x42.

 

[TTB Yeee]

Well, I have bought two handguns since Christmas, so I may just hold off until the Ruger SR1911 is more available and pick one up, or I may get an SR9c to carry.

I also get my yearly bonus around the same time, so maybe both....hmmmm

 

[jamesg]

For most people it has nothing to do with their withholding. When you make below and certain level and have kids you get a earned income credit. You could have nothing withheld from your paycheck all year by the feds and still get up to a $10,000 refund I believe. Nothing to do with giving the gov't a interest free loan. Just the gov't giving out free money once a year.

that part is true, although I wouldn't associate this with most members here, they have internet and a gun hobby, doesn't seem likely they are also at the bottom of the food chain from an income perspective.

 

[jamesg]

I'll be getting....an insulin pump for my son. No guns with this refund.

damn dude, sorry to hear that, well wishes for you and your son

 

[Plinkuh]

that part is true, although I wouldn't associate this with most members here, they have internet and a gun hobby, doesn't seem likely they are also at the bottom of the food chain from an income perspective.

As a pre-requisite to be eligible for the EIC, your income has to be less than 43k. For a single person living on their own, forty grand is a pretty decent amount of money. I don't quite get your "bottom of the food chain" comment. Are you saying 40,000 a year is poverty level?

 

[asquires2]

Im thinking of a AR DPMS Sweet 16 and a GP100 w/ a 6" barrel. That would set me straight for a little while.

 

[jontz]

damn dude, sorry to hear that, well wishes for you and your son

Thanks, I appreciate it. He is doing well though, diabetes is manageable and the pump will make it even easier. Definitely worth skipping a gun purchase.

 

[D2VW14_20]

Diapers, and a crib, and diapers, and bottles, and diapers.......

 

[Colts]

that part is true, although I wouldn't associate this with most members here, they have internet and a gun hobby, doesn't seem likely they are also at the bottom of the food chain from an income perspective.

I have heard of others with a large bonus (Fed requires a min. 25% withheld over a certain income) coupled with average income and lots of deductions (including many kids) getting large refunds even after claiming 12 or more deductions for withholding purposes. The Gov't does not offer everyone an interest free loan (maybe just the Average Joes).

 

[scotteo]

I plan on putting mine towards a compact. Haven't decided which yet. M&P40c or G23.

 

[jamesg]

I have heard of others with a large bonus (Fed requires a min. 25% withheld over a certain income) coupled with average income and lots of deductions (including many kids) getting large refunds even after claiming 12 or more deductions for withholding purposes. The Gov't does not offer everyone an interest free loan (maybe just the Average Joes).

actually you have the option to make estimated quarterly tax payments to offset that, but rarely anyone bothers

 

[spitfire51]

taking part of mine up to Camp Perry to get a Garand The rest will go into savings

 

[Deprime]

Ok, who is planning to use thier tax refund to purchase a new firearm and if so what?

I'm not going to get off of the OP's topic.

I am planning on purchasing a RRA .458 SOCOM upper and a new set of dies and some components to go with it. Been wanting one since I found out that it was a legal deer hunting cartridge.

 

[Caleb]

A kimber and a mossberg/remmington shotgun...another k31 if I'm lucky

 

[henktermaat]

im more interested in how many people here actually give the government an interest free loan all year instead of using that extra cash to buy more ammo!

there seems to be some smart people here, I figure the majority of people here use the readily available tools available and 5 minutes of their time to factor the proper number of withholdings to claim throughout the year so they don't end up over withholding.

certainly nobody is taking the easy way out here

Im glad it didnt take long for someone to post this.

People, getting money back is BAD.
Also, don't think you "didn't pay taxes" because you get a return. (Lots of people actually think this).

 

[Steve B]

We figure ours closely but we usually get a little back. My return is going to pay another tax. The tax stamp on a new suppressor. More government robbery.

 

[superjoe76]

I used my state refund to get a S&W 22A. Thanks lotsofglocks!