Realize Tax Savings Sooner

Realize Tax Savings Sooner

Realize Tax Savings Sooner

Increase Allowancespng A homeowner’s tax saving benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes.  Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year. It is possible to adjust the deductions being withheld from the homeowner’s salary so they realize the benefit of the savings prior to filing their tax returns in the form of more money in their pay checks.  Employees would talk to their employers about increasing their deductions stated on their W-4 form. By increasing the exemptions or deductions, less is taken out of the check and the employee will receive more in each pay check.  If a person over-estimates their exemptions and therefore, underpays their income tax, they might incur interest and would have additional tax to pay when they file their tax return.

Buyers considering this strategy should seek tax advice and discuss it with their human relations department at work.   Additional information is available on the Internal Revenue Service website about Completing Form w-4 and Worksheets


As a Residential Finance Consultant, I have the training and experience to provide solutions to make homes more marketable and help structure favorable transactions. 

Please forward this article to your friends or family who could benefit from it.

Kupke & Tackett, Realtors
Halo Group Realty

diane@kupkeandtackett.com





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Phone: 214-336-7505
Dated: November 13th 2014
Views: 2,155
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