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CountryBride
VIP April 2022

To include next years tax return In Budget

CountryBride, on August 4, 2021 at 6:31 PM Posted in Planning 0 14

So I am getting married on April 23rd 2022 and while we should have the majority of weddings paid off by the end of this year, with the exception of last-minute expenses like tips, etc,,, My fiance reminded me that I will have next years tax return to spend on the wedding if I need it. we get a decent amount back in our tax return last year but the problem was we filed on February 15th and didn't get our tax return until April 7th. which is extremely late for us and the lateness was due to the IRS being backlogged due to the stimulus. I am afraid that if I count on the tax return that it will be late again and I may or may not get it in time for our wedding, Should I just plan for the wedding without the tax return? or should I rely on the tax return to pay for the last-minute things? for the wedding,

14 Comments

  • A
    Super December 2020
    Anais ·
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    Plan without the tax return.
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  • Gabby
    Devoted October 2021
    Gabby ·
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    Do NOT count on it if you don't have to. I needed mine to pay for my wedding (wouldn't have been able to fund it otherwise period) and I thought we might have to postpone or see if my fiances parents would loan us money. I filed in January and got mine in the middle of July 🙃 my wedding is this October and it cut it very close


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  • Addie
    Dedicated April 2022
    Addie ·
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    Oh my goodness we are getting married on April 23, 2022 too!
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  • S
    Super September 2022
    Sarah ·
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    I would not count on it. You’re better off planning like normal without it, and then when you get it, it would be extra cushion to splurge on something. I never rely on money I don’t have yet.
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  • Suzie
    Super October 2021
    Suzie ·
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    Never count on money that you don’t have. There are so many things that can happen, don’t put yourself in that situation.
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  • Nisha
    Expert May 2022
    Nisha ·
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    I wouldn't plan anything based on uncertain funds. Try to pay everything off early or save monthly for expenses at the end.

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  • Janae
    Devoted September 2021
    Janae ·
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    Don't count your chickens before they hatch! I don't want you guys to be in the hole with the wedding because you assumed a certain amount on your tax return

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  • Rabreena
    Expert October 2021
    Rabreena ·
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    Do not rely upon the potential tax refund you will receive from the IRS, as it is not worth the extra stress, and continue planning your wedding with the current budget you have. Because it is also the fact that we never know what the IRS/government will decide to do with the tax deadline or create an extra step in the filing process with the all the "assistance" they continue to hand out.
    I work at a tax accountant firm so everyday my life involves the IRS somehow.

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  • Meghan
    Master October 2019
    Meghan ·
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    I would plan based on the money you currently have on hand.

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  • Mcskipper
    Master July 2018
    Mcskipper ·
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    Don’t plan to spend money you do not have
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  • Lisa
    Rockstar July 2022
    Lisa ·
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    I agree with the previous comments. I wouldn't rely on the tax return money. I would instead plan your wedding with the money you currently have. If the tax return gets delayed, or isn't the amount you expected, or any other issue, that could make it tough to come up with the money from elsewhere to make up for what you were counting on from the tax return.
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  • Kari
    Master May 2020
    Kari ·
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    I wouldn't rely on money you don't yet have. You should budget as if you will not have the tax return in hand by the time your wedding bills are due.

    Various things could cause issues with your tax return - the amount could change due to different regulations, there could be delays with receiving it due to IRS back logs, you could get audited, etc. So I would consider it "bonus" money instead of something you build into your budget.

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  • needmorewine
    Expert May 2016
    needmorewine ·
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    I wouldn't rely on money you don't have in hand for budgeting.

    If you normally receive a large tax return can you adjust your tax withholdings so you get more money in each paycheck instead of the large lump sum at tax time?

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  • N
    Expert June 2021
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    I say to plan without your tax returns. My husband always got great returns and expected another one before the wedding this year too help pay for our wedding and with the recent reduction in our jobs we needed it. We filed and he didn’t get anything back but owed for the first time. So I say plan with what you have and if you get the return then add it when it is physically in your accounts. Never a good idea to plan with money you don’t have yet.
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