If a tax refund is in your future, then don’t procrastinate getting your return done and filed. Call your tax preparer today and make an appointment. Make sure you have all your records organized and all W-2’s, (payroll) 1099’s (non-employee or rental or other types of non-payroll income) and any other statement that has been sent to you that pertains to filing your return. The government has had your money in their hands all year and is not paying you interest, so get it back as quickly as you can.
And while you are thinking about it, review your W2 for next year. While it’s fun getting back a large refund, it is costing you money. If you use the government as a forced savings plan, there is a better way to do it. Set up a savings account with direct deposit and sign up to have either a fixed sum or a percentage of your paycheck to go to that account. At least you will be getting interest on what you are putting away.
Copyright ©D. L. MacMillan All Rights Reserved
