Wondering what others do in this situation: I project DW and I will receive $2-3K back on our federal taxes this year and for the next couple of years at least. We pay monthly tax on a SEPP and teacher pension.
Part of me says to just throw the refund into the checking account as income, and a slightly more mischievous side says to put it in the budget as an offset to taxes paid, thereby reducing our tax expense for 2019 and increasing available space in the budget for fun things like RV travel and disc golf. And beer. And tacos. And...
I realize this is mostly mental gymnastics as it doesn't truly affect how we'll spend next year, I am just tired of arguing with myself. DW couldn't care less.
How do you/would you handle this?
Part of me says to just throw the refund into the checking account as income, and a slightly more mischievous side says to put it in the budget as an offset to taxes paid, thereby reducing our tax expense for 2019 and increasing available space in the budget for fun things like RV travel and disc golf. And beer. And tacos. And...
I realize this is mostly mental gymnastics as it doesn't truly affect how we'll spend next year, I am just tired of arguing with myself. DW couldn't care less.
How do you/would you handle this?