Traveling Taxpayers Take A Vacation with this Year’s Tax Refund

TRAVELING TAXPAYERS TAKE A VACATION WITH THIS YEAR'S REFUND For many taxpayers, a tax refund, which on average is nearly $3,000 according to the IRS, is the biggest chunk of money they'll see all year. Are you among the group of Americans who will use at least part of your tax refund for travel or leisure this year? TAX REFUNDS FUND FUTURE TRAVELS 83% of individuals indicate that they 57% of taxpayers polled in the Travel Leaders' latest survey say they will use at least part of their refund for leisure travel this year. will spend the same or more on leisure trips in 2011 as compared to last year. The remaining 17% indicate they will be spending less on leisure travel this year. TAKING YOUR DREAM VACATION ON NOTHING MORE THAN YOUR TAX REFUND A vast majority- 89% of consumers and U.S. taxpayers say that they have or will take at least one leisure trip in 2011. . Additionally, nearly 87% indicate that they will take the same or more trips this year than last year. "Clearly when Americans dream about travel, they dream big. Australia continues to be the 'ultimate dream' international destination. Perhaps the majority who indicated they will use tax refund money for travel could make that dream a reality this year," stated Roger E. Block, CTC, president of Travel Leaders Franchise Group. TRAVELING AWAY FROM HOME The following leisure trip(s) are among the most common destinations taxpayers refunds will be spent on: 48.0% TRAVEL TO A BORDERING STATE 51.8% TRAVEL WITHIN YOUR HOME STATE 75.6% TRAVEL WITHIN THE U.S. AND FURTHER THAN A BORDERING STATE 51.8% 30.8% TRAVEL INTERNATIONALLY (OTHER THAN CANADA, MEXICO & CARIBBEAN) 48.0% 75.6% 41.1% TRAVEL INTERNATIONALLY (CANADA, MEXICO AND/OR CARIBBEAN) 41.1% 30.8% AUSTRALIA IS THE "DREAM" When asked "What is your ultimate dream international destination?" the top destinations taxpayers selected were: PP 1. AUSTRAILIA 3. RELAND 4. NEW ZEALAND 5. MEDITERRANEAN CRUISING 2. ITALY When asked "Which U.S. state(s) have you traveled to or will you travel to in 2011?" the top responses were: |1. FLORIDA | 2. CALIFORNIA | 2. NEW YORK WHERE ELSE WILL TAXPAYERS' REFUNDS BE SPENT? Every year, consumers plan where their refund is going to be spent. Even before Tax Day. Here are the most common answers the TurboTax Customer Suvey recorded: SAVINGS/CHECKING/MONEY MARKET 30% CLOTHING/HOME IMPROVEMENT 11% PAY OFF DEBT 26% VACATION LIVING EXPENSES 15% OTHER 10% SOURCES: usatoday.com 2011 2009 Turbo Tax Customer Survey I prusanet (Travel Leaders), 2011 nt.com, 2011 TurboTax. sfgate.com 2011 Choose Easy.