by Tiara Williams
It’s tax season, or what could be seen as Christmas for grown ups. We are all gathering receipts, submitting W-2 forms, anticipating our big payday. But, why do some get a big tax payday while others do not? Understanding tax season can be the difference between financial freedom and living pay check to pay check.
According to experts from the EZX co Financial Services, you can get more money by simply trying to understand the tax season and following the plan during the year.
You should have a strategy: To overpay or to not overpay is the question. A big check or breaking even? It is easier to get to a large lump sum and make it count, rather than to a few hundred dollars added per check during the year.
Breaking Even Strategy: There is no refund, You’ve simply allowed the government to give you the money throughout the year as opposed to waiting and getting one lump sum.
If you are an entrepreneur, your strategy should be to break even. It’s pretty straight forward, most entrepreneurs looking for a big tax check because entrepreneurs typically have to pay the government throughout the course of the year, and that can be challenging enough.