Still waiting to follow your taxes well? Doing it now could benefit you more than you realize. Hi, I’m Ken Har greeves, founder and president of WealthGen Advisors. And today, we’re going to talk about the benefits of filing taxes as early as possible. Now, I’ll give you the four key benefits of filing your taxes early.
First, it might seem obvious, but filing faster provides you with faster refunds and with more money in your pocket sooner. You could use it to pay down high-interest debt or even to invest. Although, ideally, you wouldn’t have any refund at all because it means you paid a little bit too much in tax this year.
But number two, more time to pay off if you owe. Filing early gives you a little bit more time to sort out how you’re going to pay your taxes if it’s a high bill.
Number three, this one’s important, but I’ve heard it happening a little bit more often. It helps reduce identity theft risk. So there’s a lot of fraudsters out there that can use your social security number to actually file taxes for you and collect the money.
And four, finally, it reduces your stress. Getting it done early and using professional help can decrease stress in your already busy life.
So let’s recap:
1. Money in your pocket sooner
2. More time to figure out how to pay if you owe a big chunk
3. Reduces chances of identity theft
4. It’s almost as good as meditation; get those stress levels down
So if you haven’t already filed, it’s getting close to the deadline. Let’s plan on doing it next year, but the benefits are tremendous. And if you need help incorporating your tax strategy into your retirement plan, feel free to click and subscribe to learn more or check us out online. It’s Ken at WealthGen Advisors.
