When tax season comes around, taxpayers look forward to receiving their tax refunds so they can blow through the money as quickly as possible. However, this year when you receive your tax refunds consider doing something awesome. Today, we are discussing three awesome ways to spend your tax refund.
Add to Your Emergency Fund or Start One
It may be tempting to go out and redo all of your furniture, however starting or adding to your emergency fund will benefit you more in the future. With the way the economy is right now, anything could happen at any time and having a healthy emergency fund will save you some stress, in case your main source of income dries up.
Pay Off Your Debt
If you have debt, like many taxpayers, your tax refund is the perfect way for you to pay down some of your debts. Not only will you be less stressed about the debt collectors nagging you but you are also improving your credit simultaneously.
Find out “How Tax Refunds May Be Affected by Obamacare” on our Redmond CPA blog.
Invest in Retirement
If you do not have a retirement account started yet, start one or pay up your current one. You have to think about the future and your tax refund could contribute to making sure that you are able to retire on time. When the time comes, you will be happy with what you have put aside.
When your tax refund comes around this year do not splurge. Instead, spend it in an awesome way that is actually going to benefit you throughout the year and maybe even longer.
If you are located in Redmond, we can take care of all of your tax needs! Visit our Redmond CPA site or call us at (425) 483-6600! We are a greater Seattle CPA firm!