CPA Shows How to Get Part of your 2007 Tax Refund in December Instead of Waiting till next May.

Nov. 29, 2007 – Accountant shows an ingenious method of handling your Fed. Withholding.

The following story was published in a No. Ky. Bar Association Publication.

Have you usually received a tax refund from your 1040 around May 1st.?  Why not receive the money now-before the end of the year? Don’t wait for five or six months. Cash is King or Queen.

December is the month to perform tax planning.  Project your 1040 position.  Sit down and accumulate all of your information and calculate your tax position.

 If you are expecting a tax refund, go to your Human Resources Department and change your Federal withholding for December only.  Your pay check for December will be a lot more.  Consult your tax advisor because there is a risk you may owe  next April 15th.

Once you receive the higher net paycheck in December invest the money and let it work for you now.

Now is the time to act.

Gary Jennings, CPA, Esq. CVA

Mountjoy & Bressler, LLP.

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