West Central Blogger

Friday, January 30, 2009

Get more/do more with your tax refund

It's Earned Income Tax Credit Awareness Day in the U.S. The IRS wants people to know that tax credits are available for low- to moderate- income working individuals and families. In today's economy, a larger refund is particularly welcome. See if you qualify.

Wondering what's the best thing to do with your tax refund? The U of M Extension Service suggests four smart uses:
  1. Pay off bills.
  2. Save for needs in the coming year. Maybe you know a big bill is on the horizon, or you just want to put something aside as an emergency fund.
  3. Save for long-term goals. Think "retirement."
  4. Save for special purchases. Need to replace an appliance? A sofa? Use your tax refund to start saving toward it.
Read more and use the handy decision-making worksheet.

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