Getting A Tax Refund? Here's What I Plan To Do

It’s that time of year when people start receiving income tax refunds or filing their taxes late.  There aren’t many people out there who enjoy any part of the tax process – except maybe depositing a tax refund.

I am not a financial expert but understand there is a relationship between money and stress. Managing your money can be stressful. Doing your taxes is a complicated and an arduous undertaking. It requires a lot of effort and time basically. Because I have my own business, I hire an expert to help me through the tax thickets.

Did you know there is an online resource called the U.S. Tax Center? They have a comprehensive guide to help everyday people like me and you. Glad this was brought to my attention and suggest you check it out as well.

If you are expecting a tax refund, what do you plan to do with it? I plan to put mine in the “emergency fund” which is something everyone should have.  This fund came in handy several times over the course of my life. Best example: After a corporate buyout two years ago, I was laid off from a corporate position along with many coworkers. Then I was diagnosed with cancer again three months later.

Wish I was making that example up. Thank goodness we planned ahead for the unexpected.  I recommend you put your tax refund (or at least part of it) into an “emergency fund” too.  No one is invincible.

Below is a great infographic from the U.S. Tax Center with 5 simple suggestions on how to maximize your refund.

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