Nothing signals success like doing your income taxes. Yes, moan and groan all about it — but if you’re paying taxes, it means you’re making money (and that’s a good thing, right?)
In today’s episode of Your Money Minute, I want to share some practical advice on managing income taxes for college grads and new professionals. The goal is to avoid having to write a surprise check to the IRS. The best way to do this is to sock away money to help cover any expenses, should you have to cut said check.
Other things to note about income taxes: Plan to save a little extra money if you change jobs in the middle of the year or if you have multiple jobs. Sometimes the amount withheld for income taxes can be off when your employment situation is more complex, and remember — you want to avoid cutting a surprise check.
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