Three ideas for when the IRS owes you
Breaking even is the goal, but if you find yourself receiving a refund this year, consider these tax refund ideas.
Invest in your future
- Save for retirement. Contribute to an IRA.
- Pay down debt. Eliminate high interest debt as soon as possible.
- Build up your emergency fund.
Invest in yourself
- Join a gym or hire a trainer. Your well-being is important.
- Renovate your home. Add value to your home by making thoughtful upgrades or repairs.
- Save for higher education. Talk to our financial advisors about a plan for yourself, your kids or grandkids.
Invest in the world
- Become more generous. Give to a charity you have always wanted to support.
- Go green. Invest in ways to save on energy expenses and reduce your carbon footprint.
- Grow your own garden. Save money by growing healthy fruits and veggies in your backyard.
Whatever you decide to do with your refund this year, make a plan ahead of time for the money. If you end up with a large bill or a refund, that means you may want to reconsider your estimated taxes or how much you’re withholding from your paycheck. A qualified tax preparer can help you with these important decisions for this tax year.
Are you retiring within the next five years? Visit TFCUFinancialAdvisors.org to learn about upcoming retirement seminars.
TFCU Financial Advisors
6501 Tinker Diagonal, MWC