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LTrain823
Posts: 82
Registered: ‎04-25-2007

Tax Refund?

Hello everyone, I hope all is well! I have asked this question before but I now have a bit of a twist to it.
My CPA finally put my taxes together and she said I am expected to get $11,000 back this year in taxes!!! WOOOHOOO
 
A lot of this is because of my income, I bought a house in June, and fell in the homestead bracket in Michigan for property taxes.
 
Anywho, my atty assures me that the trustee will not touch it because I have little or no equity on my home, a fairly new car, etc. I guess she said that there are certain exemptions but I am not educated in this field at all.
 
I am hoping to get some mixed feedback. I'm sure there is someone out there that is going to give me the rulebook speech but I was hoping to also get a "friend to friend" advice from someone who had a similar expierience than I have. I plan on filing 13. I do not plan on spending this money anytime soon, I was actually planning on cashing it and putting it in a safety deposit box or something of that matter. I was hoping to get married within the next couple of years and this money would be put aside for any expenses that I'm sure would occur (ring, dress, wedding, honeymoon, etc.). I know when times are tough you are supposed to make all the sacrifices but I want to give her the best that I can and I know she will be understanding if I cant give her the wedding of her dreams but I would still like to make it as memorable as I can.
 
I just sent the tax forms today and I would expect to get the check within a month or two. I'm not going to get a state check because I owe the state taxes and my CPA said they are going to take it anyway.
My atty said to get the check and cash it before you file. My question is, has anyone went to a 341 meeting and had the trustee drill you with uncomfortable questions? I really dont want to feel uncomfortable going into this and I dont want to feel guilty either but I hope some of you understand my situation. Has anyone dealt with the Michigan trustee? I'm really nervous about this and I was just hoping to get a blessing of good news. Thank you for listening and I hope to one day return the favor with positive news.

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