So, I just finished filing my 2007 taxes and am happy to report that I am getting a federal refund in the amount of $1323. In Washington state we don't file state taxes. I know buying my house helped a lot and am curious to see what the taxes look like next year when I don't have all the closing costs and things to include. I know the interest deduction will still make a big difference, I'm just not sure yet if I should adjust my withholding. I guess I will see how it goes for 2008 and then decide.
Now, what should I do with my refund? I am thinking that I will put most of it into my savings as I am currenly trying to build that up to $10,000, possibly $12,000 before fully funding my Roth IRA. I am currently contributing to the maximum match on my employer sponsored Simple IRA. But I also think I might take $100 or so of it and have some fun, or buy myself some new clothes. I am in desperate need of some jeans.