Do Your Taxes Early, avert a Financial Emergency.
I always recommend that people do their taxes early, but this year it is even more important, and it ties into my last article. With all the tax changes in the past year I am certain a large number of people severely under withheld and are going to owe a lot more than they are expecting at tax time. Considering over 60% of Americans have less than $1,000 in their savings account this will cause some financial emergencies. If you do your taxes now you still don’t have to pay until April 15 th which gives you two months to figure out how to come up with the money. If you wait until April 14 th to figure out what you owe and learn of an unpleasant surprise you may be in trouble. This could complicate the problem by adding penalties and interest to your unexpected situation. In the rest of this article I will explain who is at the greatest risk for this surprise and why. But even if you are not at risk it is always wise to do your taxes early. If you have money coming back...