Average Tax Return

iVillage Member
Registered: 09-22-2003
Average Tax Return
14
Mon, 03-07-2005 - 9:08am

I heard on the news this morning that the average tax return is $2,436. Up 9% from last year.

Is your tax return below, higher or around the average? Are you getting a bigger return than last year?

I'm single, so I'm definitely getting less than the average. My Fed return was around $740, and my State was $179. I think I am up a couple of hundred from last year.

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Avatar for mquin73
iVillage Member
Registered: 03-27-2003
Sat, 03-12-2005 - 12:41am
That's good though, cuz really you are coming out ahead not having to pay it at all. lol


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iVillage Member
Registered: 05-12-2003
Sun, 03-13-2005 - 8:08pm
I would never want to have a huge tax refund coming back to me, since what it represents is money loaned interest-free to the government throughout the year. In my mind the ideal tax situation is one where you owe nothing at tax time and get nothing back after filing your return.
iVillage Member
Registered: 09-22-2003
Mon, 03-14-2005 - 8:28am
I have to agree. I'd rather break even than be owed/ or owe a large amount in taxes. It's not a wise way to save. The money is much better put to use throughout the year being applied to debt, or paying bills. Why pay off a CC that's had interest adding to it while waiting for the tax refund. Doesn't it make more sense to apply more throughout the year, so there is less to have interest pay on? Also if it were savings, I would like it in a savings account where I actually make interest, even if it's 1%, it's 1% more than the govt. will give!
iVillage Member
Registered: 06-04-2004
Mon, 03-14-2005 - 2:54pm
I agree 100%!!! I finally got my deductions where I want them, and I happily cashed my $60 refund check this year! I was thrilled to get a little back and not have to pay!
~leanne

~leanne

deciding to be happy doesn't mean that everything is perfect, but that you had decided to look beyond the imp

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