Income tax time–Tuesday April 17, 2018
That’s the date. Did you let the IRS hold your hard earned money all of last year? Shame on you! Most everyone wants the most taken out of their checks all year long, so that when it’s tax time they hope they get a big check back from the IRS. Well I see where people think that’s a good idea, it gives them a big chunk of money that they have plans for when they get their check. (Fun money)
Truth of the matter is, the IRS is collecting interest on the tax money collected throughout the year, not only yours but everyone else’s tax money too!!! Not only do we pay them what we owe them, we pay them more and they collect even more on the interest!!!!
Here is what I purpose, claim enough throughout the year to break even with the IRS!
Then what you have is that extra money every check, that you can stash away into a savings account and then take that chunk of money and invest it so YOU can make money on your hard earned money and not the IRS!! Wow thats a lot of money talk, but I hope you get what I am trying to tell you.
If your like most people and have that big check coming–what you going to do with it? Spend it on things you really don’t need. Ok, maybe a little of it would be ok. You should take that money and save and or invest it, or pay down those high interest rate things your paying on. Maybe you could even pay off one of your debts.
Do you have the things that you really need–Zero debt, savings account, emergency fund?
If you don’t have that sort of thing then maybe you should re-evaluate what you might do with that big check.
Whatever you do with it, feel good about it! You worked hard for it.
We alway welcome your comments, if anyone would like to share what they are going to do with their big check, we would like to hear from you.
“Whenever you find yourself on the side of the majority, it is time to pause and reflect.” -Mark Twain