Using Tax Refund for Disney Vacation
Are you stuck inside on a cold and snowy day? Makes you want to plan a Florida vacation, right? Now is a popular time to plan your next Disney vacation and for good reason. These cold, short days are a great time to plan some fun in the bright Florida sun. If you’re anticipating a tax refund you can pay for part of your trip without impacting your monthly budget.
Here are a few things to keep in mind if you plan to pay for your Disney vacation with a tax refund-
1) Book a Package
Booking a Magic Your Way Package combines multiple aspects of your trip under one booking. If you prefer to minimize your expenses on the trip, a package with dining is a great choice. If you have a set budget, tell your agent. We can work backwards to find a balance between your trip preferences and vacation budget.
2) Travel this calendar year
All of 2016 is available to book a Walt Disney World vacation. If you’d like to travel in 2017, those dates will be available to book sometime in the summer of 2016. If you’d like to use this refund to pay for next year’s vacation, you may save the money in a Disney Vacation Account or a special savings account. We use an online high-yield savings account for our vacation fund. If you prefer a physical location, check local credit unions for vacation savings accounts.
3) $200 Deposit
A $200 deposit is due when a Magic Your Way Package is booked for Walt Disney World. If you have the deposit amount available, you can book before you receive your refund.
4) 30 Day Final Payment
The final payment on Magic Your Way Packages is due 30 days before you check-in. The IRS anticipates most refunds are paid within 21 days of receipt of electronic filing. If you won’t be able to make your final payment until you’ve received your refund, do not schedule an early spring vacation. Plan your trip for the summer or after so you have plenty of time to make your payment.
5) Paying with a debit card
Payments can be made toward your vacation package with a Visa or Mastercard debit card. Debit cards have daily limits and transaction limits which may prevent you from paying your full balance at one time. Payments with a debit card may be limited to $500 transactions and no more than $1000 in a single day. Tell your agent if you’re using a debit card so you can schedule your payments appropriately. Pre-paid debit cards may be subject to more stringent transaction restrictions.
These guidelines also apply to other Disney vacations, like Disney Cruise Line and Disneyland. The deposit amounts and payment requirements may vary from the amounts and dates listed above for Walt Disney World packages.
Request a Quote on our website anytime. If you’re not sure exactly what options you should consider, that is okay. Feel free to list your general ideas for the trip in the comments and we’ll help point you in the right direction!