Smart Uses for Your Tax Refund

How should you spend your tax refund? Figuring out the answer is a nice problem to have and one that’s worth consideration. One of the best ways you can use an unexpected windfall like a tax refund is to pay down high-interest debt, such as credit card balances, because it will immediately lower your interest costs. If this is not an issue, you may wish to consider setting aside as much as possible in savings, whether that means a tax-advantaged retirement plan, college funding account or vacation nest egg. Use the balance to splurge, rewarding yourself for making some smart [...]

July 20th, 2014|Personal Tax|Comments Off on Smart Uses for Your Tax Refund

Haven’t Filed Taxes in a While? 5 Things You Need to Know

You may not owe taxes at the level of Wesley Snipes or Pamela Anderson, but failure to file a return or filing late can be costly. Here are 5 things you need to know if you haven’t filed lately. 1)     If taxes are owed, a delay in filing may result in penalty and interest charges that could increase the tax bill by 25 percent or more.  “Many delinquent taxpayers haven’t filed because they don’t have the money to pay, and then they’re socked with both the failure-to-file and failure-to-pay penalties,” said Alan Pinck, EA of A. Pinck and Associates of [...]

April 11th, 2014|Personal Tax|Comments Off on Haven’t Filed Taxes in a While? 5 Things You Need to Know
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