Quote:
Originally Posted by disneysteve
It depends. We're having our taxes done tomorrow. We don't believe in loaning the IRS money all year, so we owe come April 15. Once I know how much we'll owe this year, that may determine where the stimulus payment goes. Assuming we owe $2,000-$3,000 for taxes, the rebate will just go to help replenish the money used to pay the tax bill. Not too exciting, huh.
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I thought I should update this response. As per my post earlier today on the Personal Finance board, we actually ended up getting a $3,000 refund so we owe nothing for taxes. Along with the stimulus payment, that's $4,500 coming in unexpectedly.
It usually takes me until the end of June to max the Roths for the year. Between the tax refund and the stimulus payment, I will definitely have them fully funded by May. After that, I'm going to attack our HEL. I'd like to have it paid off by the end of 2009 and this money will definitely help things along. The HEL balance is just over 10K now so repaying it by 12/09 should be no problem at all.