Don't believe that Christmas only comes once a year: that's what tax return season is for. While paying taxes can be a pain, at least we can look forward to some serious cash making its way back into our bank accounts. These tax return memes prove that we're all ready to shop till we drop.
Before you run off to the nearest shopping center, there's actually a few responsible ways to manage your tax refunds. The list includes starting an emergency savings fund, putting it towards a down payment for a house, investing it in future business plans, thinking way ahead and working towards retirement, among others.
Obviously this isn't the most exciting way to manage an influx of cash, but your wallet and bank account will thank me later. In fact, according to the International Business Times, 80 percent of millennials are afraid of the tax process. You can count me as a part of that statistic, because nothing sends a shiver down my spine quite like filing taxes.
Rus Garofalo, owner of Brooklyn-based tax preparation company Brass Taxes, shared that many are intimidated by the process mainly because there's such little preparation to get started. “No one tells you how complicated it’s going to be,” Garofalo told IBT. "It’s this awkward feeling of ‘Am I going to get audited? Am I screwing myself?’ You're manipulating numbers that are directly applying to your life.”
So while I mentioned earlier all the logical ways to use that cash, let's not pretend that tax return season isn't basically known as "treat yo self" season. For those finished with the tax process and are reaping the benefits of a fat tax return, these memes are so relatable they'll have you going "yas."
Oh internet, how I love thee.
Huge mood. The biggest mood.
And for those still waiting on that check to hit, these memes are all too relatable.
I don't know about y'all, but if I even transfer the $15 in my Venmo account into my bank I'm feeling myself hard for the rest of the day.
So will you get a tax refund? Lucky for all of us this handy website calculates and estimates the tax refund you should be expecting in 2018. For those who already know full well that they'll have a fair number of deductions listed on their tax returns, then you should be expecting some serious money coming your way.
While these memes are slightly extreme examples of how to blow your tax refund, believe it or not, most millennials are planning to spend their tax refund in a very specific, rational way. What way is that, might you ask? According to USA Today, 43 percent of millennials plan to spend their tax refunds by paying off debt accrued from holiday shopping. Sure, it might not be a gold plated suit or pet cheetah, but in my opinion the greatest gift of all is being freed from credit card debt. Wouldn't you agree?
So eat your hearts out baby boomers, it turns out we're not spending all those refunds on avocado toast.
Tax refund season may be a cheery time for everyone, but come 2019 things might change. Next year will mark the first tax season that will be affected by the tax refund law that president Donald Trump signed in December 2017. The new law plans to nearly double the standard tax deduction, which is sure to make things even more complicated come next year's tax season.
So whether you're planning on spending that refund by paying bills, making some long-term down payments, or just treating yourself to some extra special goodies, just enjoy the influx of cash while it lasts.
Happy spending my friends!