North Ridgeville, Ohio
36591 Center Ridge Rd, Ste 105
North Ridgeville, OH 44039
440-327-0720

Certified Public Accountants List 4 Ways to Spend Your Tax Refund Wisely January 29, 2016

North Ridgeville, Lorain
Certified Public Accountants List 4 Ways to Spend Your Tax Refund Wisely, North Ridgeville, Ohio

There are smart ways and not-so-smart ways of spending your tax refund. The experts at Costin & Company, CPAs, an Ohio certified public accountant firm, says that if you give careful thought to how you spend this infusion of cash, you can plant the seeds of a more comfortable financial future. Below are four worthwhile ways to spend your refund check:

  • Pay Down Credit Card Debt: Credit card debt can cost you a bundle if it isn't promptly paid down. If you have credit card debt with interest rates in the double digits, you'll be able to save money on interest costs by using the refund on your income taxes to reduce or pay off your debt.
  • Create Or Pad Your Emergency Fund: Having an emergency fund will ensure that you're covered in the event of a job loss or financial challenges such as unexpected car repairs. Ideally, this fund should be large enough to cover about six months of your living expenses. Use the refund on your income taxes to begin this fund or to pad your savings if you've already set one up.
  • Boost Retirement Savings: You can never have too much money in your retirement savings account. Deposit some or all of the refund on your taxes into your IRA to give your savings a boost.
  • Spend It On Something You Need: If there's an essential purchase that you've been putting off due to lack of financial resources, now is the time to take the plunge. Use your tax return to help pay for car repairs, dental work, and other costly yet necessary endeavors. 

image

Serving North Ridgeville, OH, and the surrounding area, Costin & Company, CPAs, is an accounting firm that is committed to providing clients with service that is both prompt and accurate. In business for over 40 years, this family-owned certified public accountant firm delivers first-rate assistance with taxes and offers a host of other financial services for individuals and small businesses. Get the help you need to keep your financial affairs in order by calling Costin & Company, CPAs, at (440) 327-0720, or learn more by visiting the company online

Other Announcements, Events and Deals from Costin & Company, CPA's
3 Ways Self-Employment Affects Your Taxes, North Ridgeville, Ohio
Self-employment offers a variety of advantages, including autonomy and potentially higher rewards. However, working for yourself does have serious tax ramifications, of which many pe...read more
3 Benefits of Having an Ohio Certified Public Accountant Manage Your Taxes, North Ridgeville, Ohio
If you think a certified public accountant is only for the wealthy, think again. There are huge benefits to having a CPA manage your taxes, no matter what yo...read more
4 Ways to Make Filing Next Year's Taxes Easier, North Ridgeville, Ohio
If you don’t have the correct documents or you didn’t plan and now you owe a lot of money, tax time can be very stressful.  Planning for next year’s taxes through...read more
3 Tax Deductions You Didn't Know You Could Take, From Ohio's Small Business Accounting Experts, North Ridgeville, Ohio
Small business accounting is one of the most important things to get right. Without perfect bookkeeping, you’ll never be able to manage your taxes properly, and you could be missing ...read more
Don't Stress About Your Taxes — Call Costin & Company, CPAs, North Ridgeville, Ohio
Tax season is here. Unfortunately, for many, the process of filing taxes can be extremely stressful. Collecting the receipts, filling out the forms, and filing your taxes accurately ...read more