Are you living paycheck-to-paycheck but receive several thousands of dollars for your tax refund? Talk to your CPA or tax professional about adjusting your withholdings on your paycheck so that your refund is as small as possible (without owing!).
If you normally get a $3,600 refund, that’s $300 of monthly cash flow that could be used to pay off high interest credit card debt! Why struggle to make ends meet 11 months out of the year and allow the government to hang onto your money interest-free? Use that extra money every month to pay off debt and pad your emergency fund instead.
** Talk to your tax professional and have them advise you on exactly how to adjust your withholding on your paycheck. The goal is a refund close to zero, without owing the IRS! **