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10 Smart Ways to Spend Tax Savings


How will you spend the extra money that the tax reform added to your take-home pay? Consider the following smart choices:

1. Pay down your highest-rate credit cards;

2. Create or add to your emergency fund;

3. Bump up your retirement plan contributions at work and through an IRA;

4. If you have access to a Health Savings Account and qualify for one, contribute to it;

5. Donate more to charity. New tax laws let you contribute more as a percentage of your income;

6. Invest in yourself by taking classes to increase or add a job skill; 7. Contribute to a 529 plan to help pay for your children’s and grandchildren’s education;

8. Invest in technology that will make your tech tools more secure;

9. Join a gym, because a healthier, fitter you may incur smaller healthcare bills;

10. Take a break. It’s okay to take a vacation, and disconnect completely from work.


To learn more about Katz Viola Lebenhart & Mauro, LLP,
visit www.kvlmcpa.com.

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