2018 tax tips and tricks

    2018 tax tips and tricks

    Refunds are wages you earn throughout the year and should be thought of as hard-earned money rather than found money.

    • Save part of your refund for emergencies. Save $500–$1,000 or more for unexpected repairs or medical bills that could create a financial crisis and add to your debt.

    • Jump-start a savings account. Deposit some of your refund electronically into a savings account. You can have your refund direct-deposited into more than one account using IRS Form 8888.

    • Pay down high-interest debt. If you have more than one credit card, pay off the card with the highest interest first.

    For more information from MU Extension on taxes and other financial topics,click here.

    Tax-saving tips for businesses.