Monthly Archives April 2017

Big Tax Refund This Year? You’re Doing It Wrong.

For most taxpayers, getting a big refund feels good. According to the IRS, the average American received a refund of $2,860 in 2016. Awesome! That should cover the summer vacation or make a down payment on a vehicle. But wait, why you are getting this nice windfall? It’s because you gave the government an interest-free loan the previous year! Your paycheck was also about $250 less per month. If you had put that extra cash in a 401(k) and your company matched the contribution, you could have just doubled your money instead. Add in soaring equity markets, and you could
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Categories: Tax Planning.