Tax refunds gives DeKalb stores extra business
April 10, 2005
As students receive their income-tax refunds, sales opportunities increase for DeKalb businesses.
There is a definite fluctuation in business this time of year, said Mike Forde, sales manager at Mike Mooney Chevrolet and Cadillac, 204 N. 4th St..
The tax season, combined with the store’s spring promotions, makes a good market for buying less expensive cars, Forde said.
“We tend to see larger payments in cash during this time of year,” Forde said.
Investing tax-return money in cars is one option junior English major Ryan Janeski said he is exploring.
Janeski said he filled out and filed his taxes in January and received his return in mid-February. Janeski did not spend his tax refund right away.
“I didn’t have anything I wanted in particular,” Janeski said. “But I think I might end up spending it on something for my car.”
It is up to local businesses to attract the refund-rich student market.
The DeKalb Chamber of Commerce has no programs geared toward students getting tax returns back, said Kim Kubiak, executive director of the DeKalb Chamber of Commerce, 164 E. Lincoln Highway.
There are investing options available at some of our member businesses, Kubiak said.
The economic needs of NIU’s student body are not uniform. Sophomore English major Lindsey Gill said she filed in January and has also received her return.
Gill received as much as she expected from her tax return and spent it on groceries, toiletries and other essential household items, she said.
Gill did not have any predisposed plan to spend her tax return before it came, she said.
“I ended up buying regular things I needed but kept neglecting to buy,” Gill said.
Students who have submitted their taxes have time to plan how they want to spend their money.
Junior communication major Katy Ducett said she plans to add her return to her indefinite savings.
“My tax return is money I am forced to save through out the year,” Ducett said.