I'm in Florida,tax refund info needed please

[sophia]

Hello, were in Tampa Florida, getting ready to file the end of March.

I was told by our paralegal that when we got our income tax monies we could spend it on the following things.

The education course we need before filing. Brakes and tires on my car. An Independent auto appraisal on both cars since the Nada Book is way off on the amount our cars are worth (front end damage and oils leaks going on)

She also said we could by groceries and stock the pantry and get diapers, formula, etc.

I wanted to verify one more time with her but she is out of the office until Monday.

So, any advice on what not to spend it on?

We shop at Costco because my baby is on their brand of formula since birth and I'm not about to change him now.

So, we were planning on buying things like paper towels, toilet paper, soap, laundry detergent, baby wipes,diapers, pull-ups for the toddler, garbage bags, Tylenol, shampoo, vitamins, etc. etc. You get the idea. I was thinking we will be spending somewhere around $600- $800.

Then a Wal-Mart shopping for basics like jarred baby food, basic staples for the cupboards etc.

We are trying to figure out things to spend as much of the refund check on that can not be questioned, we will make sure to keep receipts as well.
But I mean exactly how much of everything can we safely buy. Will it look bad if I buy 5 cases of diapers and 5 cases of pull ups and 10 cans of baby formula?

The lawyer was not available today either and we are going to shop tonight and tomorrow.

We plan on trying to fit whatever monies is left over into our allowed exemptions so I just am looking for an idea of what we should and should not spend it on.

Thanks in advance

[fltoo]

All good, except I would not waste money on an auto appraisal.

Your tax refund is money you earned and saved during the year, so it is the same as going out and buying necessary food or baby items with money from your savings.
The trustee is looking for assets, so if you took your savings and bought a boat or a large screen tv, he would be looking to sell your "assets" purchased.

Lawyer was telling me about a conversation she had with Tampa trustees regarding auto pricing. If the trustee wants your car, s/he has to sell it at auction, unless of course, the trustee has their own used car lot. What are they going to do, advertise and wait for a buyer from craigs list?

Get a written estimate of what it will cost to repair your car. Take the NADA price and subtract out the repairs. Then you just tell the trustee how you priced the car if s/he asks. Get the estimate from a dealership, since they tend to be very expensive in repairs.

[sophia]

All good, except I would not waste money on an auto appraisal.
Your tax refund is money you earned and saved during the year, so it is the same as going out and buying necessary food or baby items with money from your savings.
The trustee is looking for assets, so if you took your savings and bought a boat or a large screen tv, he would be looking to sell your "assets" purchased.

Lawyer was telling me about a conversation she had with Tampa trustees regarding auto pricing. If the trustee wants your car, s/he has to sell it at auction, unless of course, the trustee has their own used car lot. What are they going to do, advertise and wait for a buyer from craigs list?

Get a written estimate of what it will cost to repair your car. Take the NADA price and subtract out the repairs. Then you just tell the trustee how you priced the car if s/he asks. Get the estimate from a dealership, since they tend to be very expensive in repairs.

Our paralegal said we should definitely get this, she said the Trustee uses the retail value of the cars and Nada does not give the retail price minus all the things wrong. I asked if we could show pics of the front end damage and she said we would not be able to. She stressed to have the appraisal done.

I appreciate your advice, maybe our paralegal advised us based on some recent problems with our firms dealings with trustee's and car values?

I figured out a few more things to do with the monies as well....

Get my dog groomed, get her shots done early, add some funds to my kids lunch account, get the entire family haircuts.

[keepmine]

Plus, any dental work you've put off. Get everybody's eyes checked and new glasses/contacts if needed.

[tanyusik]

I thought one can claim tax refund in FL as exemption. And if so, what's the rush to spend it all, if you can legally keep it and use later for emergencies?
Am I right about exemption?