Save Your Tax Return
The average tax refund is nearly $3,000 and over 109.3 million people received a refund last year. Wouldn’t retirement savings be a great place for your refund this year?
Be sure you get every deduction you can when filing your taxes to maximize the amount you will be able to put into your retirement savings. You can get money back if you prove you ride your bicycle to work most days, you can get money back from the clothes you donate to charity. Try TurboTax for free to learn of all the deductions you can claim and save even more money for your retirement by doing your taxes yourself and avoiding the fees of having a tax accountant do your taxes. The extra three or four hundred dollars you save will be worth the effort.
It’s possible to set up your tax withholdings so that you do not receive a refund at the end of the year. However, most people choose to get a refund because it is like a large bonus check at the end of the year. Perhaps, you are waiting on a large check this year to go on the big vacation or buy that new TV. Consider saving your check this year and finally open a retirement account.
