{"id":147,"date":"2017-04-03T11:27:00","date_gmt":"2017-04-03T17:27:00","guid":{"rendered":"https:\/\/a0109a0e50.nxcli.io\/\/get-the-most-from-your-tax-refund\/"},"modified":"2023-10-28T16:52:21","modified_gmt":"2023-10-28T20:52:21","slug":"aproveche-al-maximo-su-reembolso-de-impuestos","status":"publish","type":"post","link":"https:\/\/www.savvyladies.org\/es\/education\/get-the-most-from-your-tax-refund\/","title":{"rendered":"Aproveche al m\u00e1ximo su devoluci\u00f3n de impuestos"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text admin_label=&#8221;Text&#8221; _builder_version=&#8221;4.23&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div class=\"           image-block-outer-wrapper           layout-caption-below           design-layout-inline           combination-animation-none           individual-animation-none           individual-text-animation-none         \" data-test=\"image-block-inline-outer-wrapper\">\n<figure class=\"               sqs-block-image-figure               intrinsic             \" style=\"max-width: 150px;\">\n<div style=\"padding-bottom: 100%;\" class=\"                 image-block-wrapper                 has-aspect-ratio               \" data-animation-role=\"image\"><noscript><img decoding=\"async\" src=\"https:\/\/www.savvyladies.org\/wp-content\/uploads\/2021\/03\/image-piggybank-150x150.jpg\" alt=\"image-piggybank-150x150.jpg\" \/><\/noscript><img decoding=\"async\" class=\"thumb-image\" src=\"https:\/\/www.savvyladies.org\/wp-content\/uploads\/2021\/03\/image-piggybank-150x150.jpg\" data-image=\"https:\/\/www.savvyladies.org\/wp-content\/uploads\/2021\/03\/image-piggybank-150x150.jpg\" data-image-dimensions=\"150x150\" data-image-focal-point=\"0.5,0.5\" alt=\"image-piggybank-150x150.jpg\" data-load=\"false\" data-image-id=\"59159cb0d482e9c5b0d62afd\" data-type=\"image\" \/><\/div>\n<\/figure>\n<\/div>\n<p style=\"white-space: pre-wrap;\">One of the only positive aspects of tax season is your refund. We all look forward to a little extra cash. It\u2019s tempting to take that money and splurge \u2013 you worked hard for that money, right? But before you head to the mall, or your favorite e-tailer, here are some ways you can get the most from your tax refund.<\/p>\n<p style=\"white-space: pre-wrap;\"><strong>1. Open an Individual Retirement Account (IRA)*<\/strong><br \/>The greatest advantage to opening an IRA is that you earn tax-free interest: use your money to make more money. IRAs help you gain tax advantages to your investing and can be opened for free. They are great retirement saving tools. Any payments you have made before April 15th give you an entire year\u2019s start.<\/p>\n<p style=\"white-space: pre-wrap;\">A <a href=\"http:\/\/www.irs.gov\/Retirement-Plans\/Plan-Participant,-Employee\/Retirement-Topics-IRA-Contribution-Limits\" target=\"_blank\" rel=\"noopener\">Traditional IRA<\/a>\u00a0is different from a <a href=\"http:\/\/www.irs.gov\/Retirement-Plans\/Roth-IRAs\" target=\"_blank\" rel=\"noopener\">Roth IRA<\/a>. No taxes are paid while the money is invested in a traditional IRA until you begin withdrawing money during retirement. Here\u2019s <a href=\"http:\/\/individual.troweprice.com\/public\/Retail\/Retirement\/IRA\/Roth-vs.-Traditional?PlacementGUID=8sAW6wTm&amp;ATLID=1\" target=\"_blank\" rel=\"noopener\">a chart from TRowe Price<\/a>\u00a0to understand the differences.<\/p>\n<p style=\"white-space: pre-wrap;\">Opening an IRA for a child is the perfect gift because it gives the money a long time to grow and is an excellent example of the power of starting early and compounding interest.<\/p>\n<p style=\"white-space: pre-wrap;\">[Be sure to check out our other articles on <a href=\"https:\/\/www.savvyladies.org\/?s=ira\" target=\"_blank\" rel=\"noopener\">IRAs<\/a>.]<\/p>\n<p style=\"white-space: pre-wrap;\">*Do you have an employer sponsored retirement plan: 401(k) or 403(b)? Make sure you are contributing the maximum amount allowed, especially if your employer is matching your contributions. Read more about <a href=\"https:\/\/www.savvyladies.org\/retirement-and-estate-planning\/\" target=\"_blank\" rel=\"noopener\">retirement planning<\/a>.<\/p>\n<p style=\"white-space: pre-wrap;\"><strong>2. Pay off credit card debt<\/strong><br \/>Paying just the monthly balance on your credit cards is not savvy. Over time the amount you owe will keep accumulating, bringing the original purchases you made to be more than triple the original cost. You do not build any equity by using credit cards. Paying off your debt will strengthen your credit rating, which then leads to a lower interest rate. Pay off the cards with the highest rates first. Read more about <a href=\"https:\/\/www.savvyladies.org\/?s=credit%20card%20debt\" target=\"_blank\" rel=\"noopener\">credit card debt<\/a>.<\/p>\n<p style=\"white-space: pre-wrap;\"><strong>3. Start or contribute to an Emergency Fund<\/strong><br \/>Financial experts suggest saving between 6-8 months of your monthly expenses in case of an emergency. Think about opening an online savings account. You\u2019ll earn more money by receiving higher interest rates than going to a traditional \u201cbrick and mortar\u201d bank. Read more about the importance of an <a href=\"https:\/\/www.savvyladies.org\/?s=emergency%20fund\" target=\"_blank\" rel=\"noopener\">emergency fund<\/a>.<\/p>\n<p style=\"white-space: pre-wrap;\"><strong>4. Pay down some of the principal on your mortgage<\/strong><br \/>Your home mortgage provides a return on investment more reliable than anything the stock market can offer. Yet more than half of your monthly mortgage goes directly into the bank\u2019s pocket; i.e., interest payments. If you pay more than your monthly payments it\u2019s applied directly to your mortgage\u2019s principal balance. Hence, you save a lot of time off your mortgage; i.e., reduce total interest paid.\u00a0<a href=\"http:\/\/www.timevalue.com\/products\/tcalc-financial-calculators\/accelerated-mortgage-calculator.aspx\" target=\"_blank\" rel=\"noopener\">Use this calculator<\/a>\u00a0to determine what you will save and gift yourself the peace of mind in knowing you own your home.<\/p>\n<p style=\"white-space: pre-wrap;\"><strong>5. Reduce or eliminate a refund for next year<\/strong><br \/>Yes, it\u2019s fun to get a refund. However, if you\u2019re getting a large refund, you\u2019ve given the Internal Revenue Service an interest-free loan of your money for the previous year. What should you do to avoid giving the IRS another interest-free loan this year? You may need to increase the number of allowances claimed on your Form W-4 or reduce your estimated tax payments. Or both. But don\u2019t get carried away. Big underpayments will result in a nasty tax bill next year.\u00a0<a href=\"\/education\/taxes-how-much-should-you-withhold\/\">How much should you withho<\/a><a href=\"\/education\/taxes-how-much-should-you-withhold\/\" target=\"_blank\" rel=\"noopener\">ld<\/a><a href=\"\/education\/taxes-how-much-should-you-withhold\/\">?<\/a><\/p>\n<p style=\"white-space: pre-wrap;\">Get that refund working for you!<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>5 formas de utilizar su reembolso de forma inteligente y hacer que funcione para usted.<\/p>","protected":false},"author":7,"featured_media":148,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"give_campaign_id":0,"_et_pb_use_builder":"on","_et_pb_old_content":"<div\r\n        class=\"\r\n          image-block-outer-wrapper\r\n          layout-caption-below\r\n          design-layout-inline\r\n          combination-animation-none\r\n          individual-animation-none\r\n          individual-text-animation-none\r\n        \"\r\n        data-test=\"image-block-inline-outer-wrapper\"\r\n    >\r\n\r\n      \r\n\r\n      \r\n        <figure\r\n            class=\"\r\n              sqs-block-image-figure\r\n              intrinsic\r\n            \"\r\n            style=\"max-width:150px;\"\r\n        >\r\n          \r\n        \r\n        \r\n\r\n        \r\n          \r\n            \r\n          <div\r\n              \r\n                style=\"padding-bottom:100%;\"\r\n              \r\n              class=\"\r\n                image-block-wrapper\r\n                \r\n          \r\n        \r\n                has-aspect-ratio\r\n              \"\r\n              data-animation-role=\"image\"\r\n              \r\n  \r\n\r\n          >\r\n            <noscript><img src=\"https:\/\/www.savvyladies.org\/wp-content\/uploads\/2021\/03\/image-piggybank-150x150.jpg\" alt=\"image-piggybank-150x150.jpg\" \/><\/noscript><img class=\"thumb-image\" src=\"https:\/\/www.savvyladies.org\/wp-content\/uploads\/2021\/03\/image-piggybank-150x150.jpg\" data-image=\"https:\/\/www.savvyladies.org\/wp-content\/uploads\/2021\/03\/image-piggybank-150x150.jpg\" data-image-dimensions=\"150x150\" data-image-focal-point=\"0.5,0.5\" alt=\"image-piggybank-150x150.jpg\" data-load=\"false\" data-image-id=\"59159cb0d482e9c5b0d62afd\" data-type=\"image\" \/>\r\n          <\/div>\r\n        \r\n          \r\n        \r\n\r\n        \r\n      \r\n        <\/figure>\r\n      \r\n\r\n    <\/div>\r\n  \r\n\r\n\r\n  \r\n\r\n\r\n<p style=\"white-space: pre-wrap;\">One of the only positive aspects of tax season is your refund. We all look forward to a little extra cash. It\u2019s tempting to take that money and splurge \u2013 you worked hard for that money, right? But before you head to the mall, or your favorite e-tailer, here are some ways you can get the most from your tax refund.<\/p><p style=\"white-space: pre-wrap;\"><strong>1. Open an Individual Retirement Account (IRA)*<\/strong><br>The greatest advantage to opening an IRA is that you earn tax-free interest: use your money to make more money. IRAs help you gain tax advantages to your investing and can be opened for free. They are great retirement saving tools. Any payments you have made before April 15th give you an entire year\u2019s start.<\/p><p style=\"white-space: pre-wrap;\">A <a href=\"http:\/\/www.irs.gov\/Retirement-Plans\/Plan-Participant,-Employee\/Retirement-Topics-IRA-Contribution-Limits\" target=\"_blank\" rel=\"noopener\">Traditional IRA<\/a>&nbsp;is different from a <a href=\"http:\/\/www.irs.gov\/Retirement-Plans\/Roth-IRAs\" target=\"_blank\" rel=\"noopener\">Roth IRA<\/a>. No taxes are paid while the money is invested in a traditional IRA until you begin withdrawing money during retirement. Here\u2019s <a href=\"http:\/\/individual.troweprice.com\/public\/Retail\/Retirement\/IRA\/Roth-vs.-Traditional?PlacementGUID=8sAW6wTm&amp;ATLID=1\" target=\"_blank\" rel=\"noopener\">a chart from TRowe Price<\/a>&nbsp;to understand the differences.<\/p><p style=\"white-space: pre-wrap;\">Opening an IRA for a child is the perfect gift because it gives the money a long time to grow and is an excellent example of the power of starting early and compounding interest.<\/p><p style=\"white-space: pre-wrap;\">[Be sure to check out our other articles on <a href=\"https:\/\/www.savvyladies.org\/?s=ira\" target=\"_blank\" rel=\"noopener\">IRAs<\/a>.]<\/p><p style=\"white-space: pre-wrap;\">*Do you have an employer sponsored retirement plan: 401(k) or 403(b)? Make sure you are contributing the maximum amount allowed, especially if your employer is matching your contributions. Read more about <a href=\"https:\/\/www.savvyladies.org\/retirement-and-estate-planning\/\" target=\"_blank\" rel=\"noopener\">retirement planning<\/a>.<\/p><p style=\"white-space: pre-wrap;\"><strong>2. Pay off credit card debt<\/strong><br>Paying just the monthly balance on your credit cards is not savvy. Over time the amount you owe will keep accumulating, bringing the original purchases you made to be more than triple the original cost. You do not build any equity by using credit cards. Paying off your debt will strengthen your credit rating, which then leads to a lower interest rate. Pay off the cards with the highest rates first. Read more about <a href=\"https:\/\/www.savvyladies.org\/?s=credit%20card%20debt\" target=\"_blank\" rel=\"noopener\">credit card debt<\/a>.<\/p><p style=\"white-space: pre-wrap;\"><strong>3. Start or contribute to an Emergency Fund<\/strong><br>Financial experts suggest saving between 6-8 months of your monthly expenses in case of an emergency. Think about opening an online savings account. You\u2019ll earn more money by receiving higher interest rates than going to a traditional \u201cbrick and mortar\u201d bank. Here\u2019s a review of the best <a href=\"http:\/\/www.thesimpledollar.com\/best-savings-account\/\" target=\"_blank\" rel=\"noopener\">Online Savings Accounts<\/a>. Read more about the importance of an <a href=\"https:\/\/www.savvyladies.org\/?s=emergency%20fund\" target=\"_blank\" rel=\"noopener\">emergency fund<\/a>.<\/p><p style=\"white-space: pre-wrap;\"><strong>4. Pay down some of the principal on your mortgage<\/strong><br>Your home mortgage provides a return on investment more reliable than anything the stock market can offer. Yet more than half of your monthly mortgage goes directly into the bank\u2019s pocket; i.e., interest payments. If you pay more than your monthly payments it\u2019s applied directly to your mortgage\u2019s principal balance. Hence, you save a lot of time off your mortgage; i.e., reduce total interest paid.&nbsp;<a href=\"http:\/\/www.timevalue.com\/products\/tcalc-financial-calculators\/accelerated-mortgage-calculator.aspx\" target=\"_blank\" rel=\"noopener\">Use this calculator<\/a>&nbsp;to determine what you will save and gift yourself the peace of mind in knowing you own your home.<\/p><p style=\"white-space: pre-wrap;\"><strong>5. Reduce or eliminate a refund for next year<\/strong><br>Yes, it\u2019s fun to get a refund. However, if you\u2019re getting a large refund, you\u2019ve given the Internal Revenue Service an interest-free loan of your money for the previous year. What should you do to avoid giving the IRS another interest-free loan this year? You may need to increase the number of allowances claimed on your Form W-4 or reduce your estimated tax payments. Or both. But don\u2019t get carried away. Big underpayments will result in a nasty tax bill next year.&nbsp;<a href=\"\/education\/taxes-how-much-should-you-withhold\/\">How much should you withho<\/a><a href=\"\/education\/taxes-how-much-should-you-withhold\/\" target=\"_blank\" rel=\"noopener\">ld<\/a><a href=\"\/education\/taxes-how-much-should-you-withhold\/\">?<\/a><\/p><p style=\"white-space: pre-wrap;\">Get that refund working for you!<\/p>","_et_gb_content_width":"","_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":"","_tec_slr_enabled":"","_tec_slr_layout":""},"categories":[1,448],"tags":[166,259],"class_list":["post-147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-family-finances","tag-newsletter-article","tag-tax-refunds"],"acf":[],"ticketed":false,"_links":{"self":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/posts\/147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/comments?post=147"}],"version-history":[{"count":0,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/posts\/147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/media\/148"}],"wp:attachment":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/media?parent=147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/categories?post=147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/tags?post=147"}],"curies":[{"name":"gracias","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}