5 Ways to Use Your Tax Refund

While tax season is not very fun, some filers find solace in receiving their refunds at the end of the year. However, expecting a refund and relying on it is not the smartest way to manage your money. The first step you should take if you receive a large tax refund, is to give yourself an instant raise just by editing the amount of income tax that is withheld from your paycheck. You can do this by submitting a new W-4 to your payroll department. If you’re reading this, and just realized you need a blank form to adjust, you can find one here. When you adjust the amount of tax withheld, you will receive a little more in your take-home pay. Ideally, at the end of the year, your tax liability will match the amount you withheld and no money exchanges hands during tax time. However, if you find yourself to be part of the group that enjoys the thrill of receiving “found money” we’ve put the list below together to help you use your refund in the best way possible with the help of Sam Kerch, of AskCPASam.

Team PaycheckCityMay 22, 2015

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