Possible $14,000+ pay day!

Well, my wife and I went to file our taxes today. Well the lady is going to do a bit more research for it, but if all lights are GREEN, we will be looking at a little over $14,000 tax return.

I literally almost fell out of my chair.

Also, to be clear, I am NOT bragging about this. I wasn't expecting this, so to me it was a total shock.

Originally Posted by PistoneScrapProcessing

That doesn't make sense to me I would check with another accountant just to be sure. No sense in opening up a can of worms with the IRS and having them bend you over and do an thorough inspection of you know what.

If everything checks out on Monday, the refund will be due from a special needs adoption. Not that the child is special needs, but the type of adoption would be considered special needs.

Our tax lady is one of the best. Every year she has found us more money then what we figured was due to us. Been the best one so far.

I do agree that they can make mistakes like anyone, but that is why she and us are checking things out on Monday, and then from there we will know how we can file.

backwell:

It was definitely one heck of a shock!

My wife and I were talking last night about what we would be doing with the money if we do end up getting that much back. We came up with a few ideas, so we will see what tomorrow brings us.

I would spend some and then use the rest to buy metals (gold or silver or even copper)

Gold would be a better bet if you buy it and hold onto it for about a year it will be worth a pretty penny.

1. Pay down debt
2. Bank
3. Invest in growth fund

I know. I know. - I'm just no fun at all.

Originally Posted by PistoneScrapProcessing

I wish you would have stated special needs adoption in your original post. That's the largest single credit available on your return and honestly I don't think its enough of a credit. Having a child with special needs in most cases is very stressfull and requires more money in the long run then the credit is worth each year. I had a Neighbor growing up that had twins one was fine the other was severely autistic and give his mother all the credit in the world because hewas a handfull to deal with. The sad part about having a special needs kid or kids is when the state government decides to trim money from it budget the handicap programs are always the first to get the ax and I have a severe problem with that I think handicap programs should be untouchable along with education.

She is not special needs. The situation behind the adoption is what is considered special needs. The way they view special needs adoption here in VA, is if the child would never be spent back to their biological parent, and without someone to adopt, they would remain in foster care till they are 18.

It is a bit confusing to all 3 of us, with the stipulations, etc that surround a special needs adoption. Which is why, we will find out for sure tomorrow.

Originally Posted by easyrecycle

I would spend some and then use the rest to buy metals (gold or silver or even copper)

Gold would be a better bet if you buy it and hold onto it for about a year it will be worth a pretty penny.

Yeah, gold probably will be the better bet. Be doing some research into this.

Originally Posted by PistoneScrapProcessing

Now what to do with the money. Bobcat, dump truck, heavy duty trailer, tools. Step your game up time to go big or go home.

My wife and I talked about that. One thing I will be doing is either upgrading my truck and trailer (my truck to something with less miles on it, and a bigger trailer for more junk/scrap metal jobs (I have a few ideas for a trailer in mind)), or getting rid of the truck and trailer both for a decent size box truck.

Will be looking into all 3 aspects. I have found several box trucks on craigslist and from some companies for a few thousand in real good condition, so that is a possibility.

Originally Posted by Mick

1. Pay down debt
2. Bank
3. Invest in growth fund

I know. I know. - I'm just no fun at all.

We will be investing some. Not sure what, but one thing we have had our eye on is penny stocks. We know a few people who invest, and have made some good income from it.

Just have to explore all the options if things go as planned.

Originally Posted by PistoneScrapProcessing

I wish you would have stated special needs adoption in your original post. That's the largest single credit available on your return and honestly I don't think its enough of a credit. Having a child with special needs in most cases is very stressfull and requires more money in the long run then the credit is worth each year. I had a Neighbor growing up that had twins one was fine the other was severely autistic and give his mother all the credit in the world because hewas a handfull to deal with. The sad part about having a special needs kid or kids is when the state government decides to trim money from it budget the handicap programs are always the first to get the ax and I have a severe problem with that I think handicap programs should be untouchable along with education.

Couldnt agree with you more. my wife works for the county special needs school. They cut funding for her school every year. Hell she only makes $25000 a year working for the school and they just keep cutting and cutting. Sickens me to no end.

Originally Posted by mntnman

@George
where in Va are you? just curious as I'm also in Va

manassas va

Originally Posted by PartTimeScrapper

Couldnt agree with you more. my wife works for the county special needs school. They cut funding for her school every year. Hell she only makes $25000 a year working for the school and they just keep cutting and cutting. Sickens me to no end.

Money has a limit. You cant just keep going further and further into debt just so X people are taken care of or Y people have welfare.

I do feel that special needs children need additional help but help costs money and only so much of it to go around.

This is a fundamental issue with today's society. Back in the day if you needed a house your family kicked you out with an axe pointed at the woods and said get your ass in gear and start building. Needed food? Theirs some land, plant some crops.

Today it's government im too. fat, lazy, disabled, illegal, or work for $7 bucks and hour but cant keep my legs closed so i have 13 kids. GIMMIE MONEY.

Then it comes down to tax payers like us to support these people. The tax payers are a stone pillar with a 30 ton weight limit and were sitting at 50 tons now with more and more each year. One day the cracks wont be able to be repaired and we'll come tumbling down.

Originally Posted by asandahl

and then you have to report that as income on next years taxes.

Doesn't work that way.

Originally Posted by GeorgeB

Which is why, we will find out for sure tomorrow.

George, that was on the 5th. Today is the 7th. What did you find out?