Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

Make a Plan for Your Tax Refund

tax keyFRANKFORT, KY (1/11/13) – It’s tax time! In 2012, approximately half of all tax payers received a refund.
 
If you are in the majority of Americans expecting a tax refund this year, develop a plan now to ensure you are making the best use of this money. The average tax refund in 2012 was about $3,000. For many Americans, this may be the largest lump sum of money received during the year.
 
Although it might be tempting to spend your tax refund on something fun for you or your family, it is important to develop a plan to use your tax refund to help you meet your financial goals for 2013. Develop a plan on paper, similar to a monthly budget, to spend your refund. Start by making a list of your debts. Consider either making additional payments on your highest interest rate credit card or paying off your smallest debt entirely. Next, build your emergency fund. It is recommended to have 3 to 6 months of living expenses in a savings account, in case of job loss or medical emergency. Look at your monthly budget, can you set some money aside to pay upcoming expenses or save for a family vacation or holiday to help you pay cash in the future and avoid credit card debt?
 
Consider splitting your refund. The IRS will allow you to split your refund into different accounts. Splitting your tax refund is similar to having your employer or bank split your paycheck between a savings and checking account. Statistics show that if you deposit your paycheck directly into checking, you will save less than splitting the deposit between checking and savings. The same principle applies with your tax refund. You can split your refund if you file electronically or by mail.
 
Educational programs of the Kentucky Cooperative Extension Service serve all people regardless of race, color, age, sex, religion, disability, or national origin.
 
SurfKY News
Information provided by Laura Holt and Janie Culton

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Posted on 2/2/14
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013

Stock Report

1 DOW 16,943.81
+28.74 (0.17%)    
2 S&P 1,967.51
+2.83 (0.14%)    
3 NASDAQ 4,415.49
+19.29 (0.44%)    
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013

Most Read This Week (Site-Wide)

July 08, 2014 11126

UPDATE: Arrest Made in Shooting Death of…

in Top Stories by Charles W. Riley II, SurfKY News
July 07, 2014 5945

Madisonville Police Bust Prostitution…

in Top Stories by Major Chris Taylor
July 07, 2014 5169

Parents Arrested for Leaving Minors in Car

in Top Stories by Madisonville Police Department
July 11, 2014 3960

Madisonville Kmart to Close in October

in Top Stories by Ami Clayton, SurfKY News
July 09, 2014 3754

Madisonville Woman Arrested for Alleged…

in Top Stories by Madisonville Police Department

Most Read Stories from Hopkins County

July 07, 2014 5945

Madisonville Police Bust Prostitution…

in Top Stories by Major Chris Taylor
July 07, 2014 5169

Parents Arrested for Leaving Minors in Car

in Top Stories by Madisonville Police Department
July 11, 2014 3960

Madisonville Kmart to Close in October

in Top Stories by Ami Clayton, SurfKY News
July 09, 2014 3754

Madisonville Woman Arrested for Alleged…

in Top Stories by Madisonville Police Department
July 07, 2014 2964

MPD Responds to Fight, Drug Arrest Results

in Top Stories by Madisonville Police Department

Most Read Stories from Owensboro

July 08, 2014 1576

Nashville Predators are Coming to the…

in News by Brittni Bunn
July 07, 2014 1570

Section of Kentucky 1456/Newbolt Road in…

in News by Keith Todd
July 08, 2014 1480

Owensboro Police Department Reports…

in News by Dennis Beard, SurfKY News
July 08, 2014 1403

Owensboro Neighborhood Alliance Meeting…

in News by Abby Shelton
July 07, 2014 694

Owensboro Man Charged with Attempted…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

July 08, 2014 11126

UPDATE: Arrest Made in Shooting Death of…

in Top Stories by Charles W. Riley II, SurfKY News
July 07, 2014 2913

Life of Muhlenberg Son Hank Becker to be…

in Top Stories by Paul McRee, SurfKY News
July 08, 2014 2517

Two Vehicle Collision with Injuries

in Top Stories by Charles W. Riley II, SurfKY News
July 08, 2014 2234

Graham Man Arrested on Several Charges

in Top Stories by Sheriff Curtis McGehee
July 07, 2014 1855

Business Spotlight - Red Door Trading…

in Top Stories by Charles W. Riley II, SurfKY News

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03