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You’re Probably Doing This With Your Tax Refund

accountant doing taxes

Tax refunds are fun money, right? It depends on how you define “fun.” It might surprise you what most people are planning to do with the tax refund this year.

And if you’re still looking for free tax help in Lufkin, this is where you can find it.  

Most people who get tax refunds are planning to sock it away in savings.  That’s according to a new survey from GoBankingRates, that say 41 percent of us plan to put the big fat refund right into savings and forget all about it.  Well, maybe we’ll keep out a little bit for a mani-pedi or a new tablet, but the rest will be stockpiled.

If you’re not saving the money, these are the other ways we’re spending the tax refund, according to the survey:

Pay off debt – 38%
Put the money toward a vacation – 11%
Splurge on a purchase – 5%
Make a major purchase – 5%

Guess which gender will urge for the major purchase the most? Men.  Seven percent of guys will want to make a major purchase with the tax refund and only three percent of women.  Or maybe you’ll work together on the granite counter tops for the house.

The IRS deadline is usually April 15th, but because of holidays and Sundays, you have until April 18th to file this year.  And if you need help, Goodwill Industries covering Lufkin, Nacogdoches, and Diboll, plans to offer free tax prep again this year through the VITA program.

You may even be able to volunteer to help prepare the returns, and make people very happy by telling folks how fat the refund will be. Taxes can a little bit fun after all.  When they’re finished!

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