When it is time to use TurboTax to complete your taxes for the past year, you may want to consider a few Money Saving Tips for Families in the coming year. Planning early in the year makes it easier to reach your financial goals by the end of the year. Since you are already running the numbers with Turbo Tax, you have records that can show you where to make cuts for the next year.
Review Your W-4
Changes in withholding laws affect the money your employer must withhold from each paycheck. If you find you owe money at the end of the year using Turbo tax 2014, you may want to increase the withholding. If you are getting a big refund each year, decrease the amount withheld to increase your monthly budget.
Winterize Your Home
Turbo Tax 2014 can help you to find special tax credits for this type of action. They reduce the cost of projects that provide long term savings to you as a homeowner.
Look at Your Cellular Plan
Many people are paying hundreds of dollars monthly for their cellphones. That two year contract that gives you the latest smart phone can be costly. Today, there are providers offering great plans with no contract. Some are as little as $25 per month and will allow you to bring your existing phone.
Turbo Tax offers some great Money Saving Tips for Families for ensuring you take qualifying deductions on your tax returns. In addition, the software makes tips that can help you to save even more for the following year.