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Now That Your Taxes are Done…
By JLP | April 19, 2006
Jeff Brown at the Philadelphia Inquirer has some good advice on what you should be doing now that your taxes are filed. It’s pretty common sense stuff.
In my opinion, the most significant idea is adjusting your W-4 so that you have the proper amount of taxes withheld from your paycheck. Huge refunds, although nice, isn’t the best way to manage your money. Oh, and for those of you who won’t do this because you think you lack the financial discipline, set up a savings account and have the additional funds direct deposited. That way, you won’t see the money and before you know it, you’ll have a nice little nest egg of money.
Topics: Tax Planning, Taxes | 4 Comments »
April 20th, 2006 at 10:52 am
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April 20th, 2006 at 11:01 am
Exactly – managing money takes time and commitment – step it up, folks! You’re giving Uncle Sam an interest free loan!
April 21st, 2006 at 1:31 pm
I did this. My refund was way too much. I did have some ‘out of the ordinary’ deductions this year, like sales tax on a vehicle, but using the planning feature in Turbo Tax I was able to print out a new W4 for the remainder of this year.
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