Do you make this mistake with your tax?

If you're new here, you may want to subscribe to our RSS feed or download your FREE eBay gift pack . Thanks for visiting!

I came across an article recently by someone I’ve admired for some time & has been a great source of help already - so much so, that I thought this article was worth sharing with you …

“As a gentleman was leaving my class recently, he wanted me to clarify something I had said. He was making sure that he should take his four or five thousand dollar tax refund and pay off debt.

I was stunned. This money represented $400-$500 that could have been in his pocket every month. A survey of my friends this week revealed one who was getting back $2800 and one getting $3300 back this year.

Getting a large tax refund (over $500) means you are having too much money withheld from your check every pay period.

Many people use this as a forced saving plan and it does not make any sense. You are loaning the government YOUR money, interest free. Every $1200 in refund is an extra $100 per month you could have used to eliminate debt or invest for your future.
I ‘d venture to say that most people who do get large refunds could use this money every month to ease their debt burden. This burden frequently leads to late charges and higher interest rates. Instead, they like the feeling of getting that big check in the mail and figuring out how to spend that chunk of money.

The ideal situation is to either owe or get back $100.

If you get a big tax refund then you should adjust your allowances. The more allowances you claim, the less money is withheld from your check for taxes. It generally does not matter how many allowances you claim.

If the government gets it’s money they really don’t care how many allowances you claim. Here is how to get it right. Take the time to complete the appropriate worksheets included on Form W-4. The worksheets will help you determine your withholding allowances based on your income, adjustments, deductions, exemptions and tax credits. The worksheets can help you figure the right amount so you don’t have too little withheld.

If you need help ask your payroll administrator at work or an accountant.

Keep your money working for YOU!”

Leo Quinn is a man with a proven reputation for outstandingly successful results with his surprisingly simple & easy to follow program.

Basically, it shows you how to finally get control of your personal de.bt, and get rid of it — and here’s what’s amazing: it can be done very quickly.

I would never endorse anything that wasn’t a sound and proven system… especially in this day and age.

This is perfectly above board and like nothing you have ever seen before… The kind of financial advice that you might pay thousands of dollars for if you went to a financial planner.

Here’s where to go to take a look if you need it: Finally Get Out of Debt

Money Secrets You Don't Know & Banks Don't Tell You

Leo J. Quinn, Jr. is a financial educator from the Albany, NY area. For the last eight years he has been stunning audiences by showing them that paying off their highest interest rates debts first and/or paying extra on more than one debt is often the SLOWEST way to get rid of those debts.

He has a special offer for readers of this newsletter at: Leo Quinn - How To Get An Instant Pay Raise <== Click here

[Post to Twitter] Tweet This