The 2008 tax filing season is almost over and not a moment too soon. This year I met several new business and individual tax clients. Some of those clients were pleasantly surprised with large refunds and other saddled with large tax liabilities. Over the next few weeks I will be assisting several clients in making changes to their tax withholdings so there will be no surprises, good or bad, come next April. One of those new clients, let’s call her Rebecca, received a refund of over $ 6,000. While that was a pleasant surprise for her she would have much preferred to have an extra $ 500 per month to defray her living expenses. Rebecca has since changed her withholdings and is now benefiting from an improved monthly cash flow.
If you or someone you know is bragging about their big refund ask the why they are making no interest loans. I would like to talk to them about improving their monthly cash flow instead of making a no interest loan to the government.
For more information about this or other tax matters calI me at 678-624-4775 or send an email to Peter@TarantinoCo.com