Every year we settle up with the US Government when we file our taxes. We learn if they will owe us or will we owe them. Well if you have consistently received a tax refund annually then you are missing out!
When you take out a loan from any financial institution you are required to pay that loan back on time every month with interest. Therefore you are paying more then what you asked for... it's the cost of money.
Now the Federal Government is doing the same with your money (given you receive a refund) only they are not paying interest on the funds that they take out of your paycheck every month. You can invest your own money and based on where you invest your money will grow from the interest compounded on the initial investment.
So let this be your last year receiving a refund and invest in your financial future!
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.