At some point in our lives, we have all come to the disappointing realization that money doesn’t grow on trees. As nice as that would be, we have pushed past the fantasy world and realized that the only thing we can do to harvest and maintain our cash flow is to manage it well. Over the years, we have muddled through retirement funds and poured over a vast array of paperwork while trying to pay taxes. We have searched the web, handled several trial and error test runs, and come to the encouraging vantage point that it can only get better from here.
So what can you do to improve your financial position and make your tax filing process more stress-free? The question is more aptly stated: “What can’t you do?” Nowadays online resources, printed books, podcasts, seminars, and the like, are bursting with new ideas and helpful tips for handling money the stress-free way. If you are looking for positive steps in the direction of your financial future, here are just a few things that can point you in the right direction:
Free Help for Filing Taxes
More than likely if you are over 50 years of age, you have received the pamphlets in the mail alerting you to something called “AARP.” Other than a sign that you are now much older and wiser with your finances, these mailers are a tell-tale sign that you can now get free help with filing your taxes! You don’t need an AARP membership to qualify for this service. All you have to do is find an AARP location that is closest to you.
If you are 60 years of age or older, you can also take advantage of the IRS program: Tax Counseling for the Elderly (TCE). Certified volunteers assist with the tax filing process and are reimbursed for their transportation or other related expenses in order to help provide you with the best, free service. You can find a TCE volunteer through the IRS website.
If you decide to take advantage of the free help, make sure you are still well-informed of all of the deductions and tax information that is available for you. At the end of the day, it is your money, and you should have the peace-of-mind in knowing how it is being handled. Become a tax pro by reviewing tips online.
Ways to Use Your Tax Refund
As the saying goes, “A penny saved is a penny earned.” When you receive your tax refund, tuck it away safely in your savings account. More important than spending these precious pennies, is knowing that they are there in the case of an emergency or last-minute need. You might be delightfully surprised how solid of an account you can grow over the coming years.
If you have debt lurking in the corner, you can also use your tax refund to help pay it off. Can you imagine how much more peaceful your finances would be without an extra payment each month? After it is paid-off, you can stash that same amount of your monthly payment into your savings account for the future. There is no better way to celebrate becoming debt-free, than to further secure your finances.
One of the best things you can do to ensure a smooth tax filing process and financial stability to is plan ahead. It is never too late to start budgeting or getting out of debt. Research all of the ways you can get ahead and stay there. Let your latter years be even more blissful than your former years and once you have learned new helpful information about tax benefits and assistance, pass them on to others who can enjoy the same hassle-free tax and money advice.
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