Taking The “Fun” Out Of “Refund”

Bridget’s international travel has been grounded by the Tax Man … for now.
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When I filed my taxes this year, I expected to get an income tax refund in excess of $5,000. As an MBA student with a huge tuition bill and a year’s worth of tax-deductible contributions to my retirement accounts, I was sure I had enough credits to produce a sizeable return. I was planning to spend it on plane tickets to South America, then shuffle the leftovers into savings for next year’s MBA course fees. I was even going to let myself take $300 on a mini shopping spree. You can imagine my disappointment when I received less than 25% of what I was expecting.…

Tax Season Is A Perfect Time To Revisit Your Retirement Savings Plan

Don't put it off until tomorrow.
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There are only two more weeks before the April 15 federal income tax filing deadline. Unlike that forgiving professor who accepted your mid-term paper three weeks after spring break, the IRS is no joke. They like deadlines. Even their name strikes fear in the hearts of people. While many of us dread tax time, I would look at it as an opportunity (I’m a glass half full type of guy, if you can’t already tell) to revisit your retirement savings plan.…