I feel so blessed this week. I just found out from my tax person that we are getting a substantial amount of money back from our taxes!
This has never happened, usually we get just about enough back from the IRS to pay the State.
Anyway, I can payoff completely 2 or 3 bills, or I can completely catch up my house payment which always seems to be on the edge of almost one month behind. It would allow me to pay it ahead by one month then I could put it on Auto Payment on a bi-weekly schedule which matches my husbands payroll.
I'm leaning towards the house, I think that would really put me ahead of the game. What do you think?
Thank you for your input.
Kris
Tax Windfall - Need Advice!
March 31st, 2007 at 11:28 pm
March 31st, 2007 at 11:45 pm 1175384715
April 1st, 2007 at 12:54 am 1175388853
If you think that the large tax return will continue, you ought to adjust your W4s. While a large return is nice, it's at the cost of letting Uncle Sam sit on and collect interest on your $$ for a year. You could take the extra income (difference between wages under old w4 & new w4 and automatically put it into a savings account that will earn you some interest and get you out of the stress of feeling behind on payments.
April 1st, 2007 at 04:42 pm 1175445766