According to Rau, you should try to use your refund in more profitable ways, such as saving your extra money for your emergency fund or paying off some of your existing debts. More than that, pay attention to the refund you just received before spending it. You can find a tax withholding estimator on the IRS’s website to determine the right amount of withholding.
Read also 14 Most Overlooked Tax Write-Offs You Don’t Want to Miss.
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