No one likes paying taxes, and there’s no reason to pay more than you should in any given year. One of the best ways to make sure your tax returns ripped the most profit is by investing it. To make your money grow.
- Invest in CD’s
CD’s are forms of investment that take time to mature and grow. If you’re looking to save money for your kid’s college fund this is a good way to do it. This will be put aside to grow and mature until you have made some profit. - Increase your 401k referral
Of course you can’t put your refund into your 401(k) but you can supplement your income with it while you increase your referral. This is especially important if your employer matches your refund amount. - Put it as a down payment for a property
Owning your own place is always better than paying someone else’s mortgage. Save as much as you can and purchase your own home. If you ever move chances are you will have some equity. - Lower your debt
You don’t have to spend your entire tax return paying your overdue debt. However, paying some debt should give you some financial stability. Lower your debt as much as you can and start from zero.
Remember, be wise and make money out of your tax return. If you are currently a BrightStar Credit Union Member, enjoy a discount when you file with Turbo Tax.