Tax Considerations

Refunds Too Large
If you are getting more than $1,000.00 back in tax refunds each year combining federal and state you are missing a great opportunity to increase your wealth. When the government uses your money all year long you lose the interest the money could have earned all year long, this is an example of an "opportunity cost." Change your estimated payments or your W-4 withholding to put more in your checkbook each month and save that newfound money.

Income Increases
If you get a raise or the income of your business grows, save part of the growth. It will allow you painlessly save and simultaneously enjoy a better standard of living today. This is a habit you want to build early. Many have become very wealthy and happy by not changing their standard of living as their income grows.

Changes in Expenses
When you have been paying for something that eventually ends but is not a debt. Examples of this include daycare, school tuition and medical care. When these expenses disappear it is a great time to begin keeping those dollars for yourself and

Debt Consolidation
When you consolidate debts by refinancing your home and including other payments such as auto, student loans, credit cards, etc. The amount of your payment reduction should go to savings and investing. If we have not spoken in the past few months, call the office immediately to discuss the feasibility of debt consolidation and refinancing in today's low interest rate environment.