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Sunday, April 11, 2010

Are you maxing out your Tax Refund?

Tax season is upon us, and the major deadline for turning in your tax return is this week. For those who receive a refund, here is a newsflash: Its your money! Your are not getting something for nothing! In fact, you allowed your the Federal Government or State borrow your money without charging interest! Would you be allowed to borrow money from a bank without repayment with interest? Of course not! The people who get a tax refund are allowing the IRS to hang on to their money without charging any interest!
Why not use that money during the year, and max out your deductions! Talk to your CPA or Tax Preparer about options to help you keep more of your money during the year, instead of giving it away without charging interest.
The other mistake most people make is they spend this money on doo-dads or non income producing assets. These things will not place any more money into your pockets. Why not expand you net worth? Take your tax refund and make your money work harder for you. In the following video clip, Douglas Andrew shows a way one can max out the tax refund and get huge benefits for the long term!

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