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Released: April 11, 2013
Tax experts’ best tips to save you money
Source: Rus Wiles, Arizona Republic (USA Today)
These best-practices pointers can improve your financial situation and prevent unpleasant surprises:
• Aim for zero. Although it's nice to receive a tax refund around April 15, it's not the best strategy. A refund is just another way of saying you finally got your money back on the interest-free loan you gave the government. The other extreme — owing a big tax bill around April 15 — isn't smart, either, especially if you struggle to pay it.
Ideally, you should plan your withholding and other tax tactics so that you either get a minimal refund or owe just a bit more in taxes after filing your return. A big zero on the tax owed/due lines might not be interesting, but it's a laudable goal.
•Make your refund count.
Read Full Article: Tax experts’ best tips to save you money
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