Wednesday, February 16, 2011

Income Taxes

I have already e-filed and received my 2010 Federal and State income tax refunds.

Here is what I did/am doing with my refund:

10 % tithe
$ 100 offering (family gift to sponsor child's family)
$1,000 into emergency fund
$2,310.92 Feb. & May property tax bills
$1,200 March, April, & May mortgage
$ 420 annual life insurance bill

Praise God for this refund (I got earned income credit, child tax credit, head of household, and some work credit.)

It feels so good to have an emergency fund again (I have been living off my old one.)

Did you file yet?
Will you e-file?
Do you expect a refund?
If yes, what are your plans for it?



Becky said...

I e-filed our federal taxes a few days ago and am mailing the state in today. We're getting refunds from both since we had our son in 2010 and never adjusted our withholdings (we have done that now!).

The money is going into savings. Hopefully, I can convince my husband to spend $500 of it to have a will drawn up now that we have a baby!

Anonymous said...

I just found your blog and really enjoy it. We filed and already recieved our return. I paid off 3(small) cc's, bought my colllege age daughter a good winter coat(she goes to school in upstate pa and wasnt properly clothed), paid my youngest dds tuition til may, tithed, stocked up on some food items, paid ahead in my utilities and paid my real estate taxes. We have a little bit left that I added to our emergency fund. We are blessed that we recieved a nice refund, but we set our deductions at zero, have two kids in college and one in highschool.