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Oh boy… it’s tax season, everyone’s favorite time of year, right?!?! Well for some, yes! This is refund season for most but for others this is the most dreaded time of year.
For us, usually this is “hip hip hooray” time but we made a big mistake! Usually I am 100% percent on top of our finances but this big tax mistake just kind of blind sided me and now we are paying…. literally.
My husband made a company change last year which he is employed out of state…. well the previous employer withheld state income tax for us…. guess what the new employer didn’t do?? So here we are, almost mid March, taxes are due in about a month and we owe SEVERAL THOUSAND DOLLARS! Yes, you heard that right!
So now what….
Here are a few ideas and tips to get you out of a tax bind.
- Go To HR – If you find that owe a significant amount to the IRS, then you need to look over and adjust your w-4 withholding immediately. Things like a marriage, divorce, new baby or even your child becoming an adult can throw off the balance.
- Start a savings account – If you already know you will be owing next year, then you are best to start a savings account and tuck away equal monthly installments. This will ease the sting when April 2018 comes around.
- Look into CheckIntoCash.com – When the best laid plans just don’t work out, or you were blind sided by a situation, like ours. Then you need help and you need it quick. CheckIntoCash.com offers all new customers, up to $750 OR your state’s maximum loan amount. These Cash Advance payday loans can help you get the money you need for this years tax season.
- Pay your tax owed on time- You very best bet is to pay your amount owed in full and on time. This will save you a lot of additional fees and penalties. To do this you can use the CheckIntoCash.com service mentioned above. You can also sell clutter from your garage or look for day work on job hunting sites. Another great options if you already have a personal or auto loan with certain banks or credit unions is, many have a feature called “Skip-a-pay” which allows you to skip a payment once or twice a year, you can use this savings to pay your taxes owed.
- Ask for and extension – I personally feel like this is a very last resort. Obviously you want to be compliant and pay what you owe… but this doesn’t come without a price (ie, fees). This would be an option for you if your amount owed is just too high and paying your taxes owes off on time and in full is just not an option. By asking for an extension you will get a bit of wiggle room to get your ducks in a row, but be warned that without a plan of action, that extension has a tendency to sneak up on you very fast.
Good luck with this years tax season!
Disclosure – Dazzling Daily Deals is not affiliated with Check into Cash. However, Dazzling Daily Deals may be compensated for referring you to Check into Cash.
