Last week I wrote a post on what to do with your tax refund, but I also wanted to cover the options available to you actually owe taxes. So first things first, if you owe this year and you didn’t sell a house, take realized gains from stock accounts, have a surge in income, etc. then you need to fill out a new W-4 with your employer, if you already claim 0 exemptions then you may want to request to have a set dollar amount withheld. If you are self-employed you may want to consider making quarterly payments to the IRS
7 Ways To Spend Your Tax Refund
What Is The Dependent Care Flexible Spending Account?
Have you heard of the Dependent Care Flexible Spending Account? It’s OK if you haven’t. If your employer offers the account as a part of your benefits package you would normally hear about it during open enrollment. I feel like it is an overlooked benefit that could possibly save you money if you pay for childcare or dependent care expenses. Here are a few Q&As about the Dependent Care Flexible Spending Account.