Tax Season Help - 2016
Did you know that you can have your taxes done for free if you earned less than $54,000? United Way’s Volunteer Income Tax Assistance (VITA) program offers trained tax return specialists to make sure you get the largest tax return possible. They will make sure you capture underutilized credits, such as the Earned Income Tax Credit, and can also help connect you with other resources available in the community. Dial 211 from your phone to schedule your appointment today, or file online here.
Have you ever been excited to receive a large refund, only to have the money disappear as if you had holes in your pockets? Here are a few ways to let your money work for you this tax season:
· Pay off your credit card or other debts. Paying down credit card debt saves you monthly interest fees. This is also one of the best ways to improve your credit score, which can save you money in the long run.
· Pay your car insurance up for 6 months. Wouldn’t it feel really nice to not have that monthly fee for a few months? An added benefit - insurance companies typically offer a small discount when you pay your bill in full.
· Open an IDA savings account. Community Works Carolina has an Individual Development Account (IDA) Program that helps low- to moderate-income individuals triple their savings. If you save up to $1,000, Community Works will match it three-to-one. The account can be used towards the purchase of a long-term asset, such as a home, education, or a small business. As part of the program, you will be asked to save a minimum of $25/month and attend free classes to help make your dreams for the future a reality!