As we welcome the arrival of spring and the promise of warmer weather, it’s easy to get caught up in thoughts of summer plans and family vacations. But with tax season in full swing, it’s important to balance excitement for the upcoming months with a push to wrap up tax season. While those topics couldn’t feel more opposing, we’re here to help you navigate both worlds. Here are five steps to tackle taxes like a boss and set your summer up for financial success:
1. Tackle Tax Season Early
Don’t wait until the last minute to file your taxes. The sooner you file your taxes, the sooner you can start planning your summer vacay. You should have all your documents so it’s time to roll up your sleeves and get to work. The good news is you don’t have to do it alone. MilTax provides free assistance from those with expertise in the complexities of military life. And just think, the earlier you file, the sooner you’ll know if you’re due for a refund or need to make payments.
2. Look for Ways to Boost Your Refund
If you’re expecting a tax refund, think about how to make the most of it. Perhaps a portion of your refund can go towards any spring break or summer travel. It may be tempting to spend it all, but consider using some of that money to bolster your savings or pay off debt.
3. Start Budgeting for Summer Activities
It’s spring break season and as the weather warms up, summer plans start to take shape. Whether you’re thinking about a vacation, weekend trips, or just spending more time outdoors, start budgeting for the activities you want to enjoy. Set aside money for travel, entertainment, and any summer gear you may need. Having a clear spending plan for these expenses will help you have fun without going overboard financially.
4. Take Advantage of Benefits for Summer Prep
Did you enroll in the Dependent Care Flexible Spending Account? Those benefits can help you with childcare or camps over the summer when kids are out of school. Also be sure to check out DoD summer camp programs to help your young children and teens stay busy.
5. Consider Summer Income Opportunities
If you’re looking for employment or through your planning, you decide to boost your income to fund your activities, the DoD Spouse Education and Career Opportunities program offers tremendous resources to help you get started. March is the perfect time to start planning for additional income streams, whether it’s through freelance work, a part-time job, or selling unwanted items at spring garage sales. Extra cash can make your summer plans even more enjoyable.
March is a great time to set yourself up for a financially stress-free summer. File your taxes early, start budgeting for summer fun, and get ready to enjoy a season full of memories without the money worries.
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As we welcome the arrival of spring and the promise of warmer weather, it’s easy to get caught up in thoughts of summer plans and family vacations. But with tax season in full swing, it’s important to balance excitement for the upcoming months with a push to wrap up tax season. While those topics couldn’t feel more opposing, we’re here to help you navigate both worlds. Here are five steps to tackle taxes like a boss and set your summer up for financial success:
1. Tackle Tax Season Early
Don’t wait until the last minute to file your taxes. The sooner you file your taxes, the sooner you can start planning your summer vacay. You should have all your documents so it’s time to roll up your sleeves and get to work. The good news is you don’t have to do it alone. MilTax provides free assistance from those with expertise in the complexities of military life. And just think, the earlier you file, the sooner you’ll know if you’re due for a refund or need to make payments.
2. Look for Ways to Boost Your Refund
If you’re expecting a tax refund, think about how to make the most of it. Perhaps a portion of your refund can go towards any spring break or summer travel. It may be tempting to spend it all, but consider using some of that money to bolster your savings or pay off debt.
3. Start Budgeting for Summer Activities
It’s spring break season and as the weather warms up, summer plans start to take shape. Whether you’re thinking about a vacation, weekend trips, or just spending more time outdoors, start budgeting for the activities you want to enjoy. Set aside money for travel, entertainment, and any summer gear you may need. Having a clear spending plan for these expenses will help you have fun without going overboard financially.
4. Take Advantage of Benefits for Summer Prep
Did you enroll in the Dependent Care Flexible Spending Account? Those benefits can help you with childcare or camps over the summer when kids are out of school. Also be sure to check out DoD summer camp programs to help your young children and teens stay busy.
5. Consider Summer Income Opportunities
If you’re looking for employment or through your planning, you decide to boost your income to fund your activities, the DoD Spouse Education and Career Opportunities program offers tremendous resources to help you get started. March is the perfect time to start planning for additional income streams, whether it’s through freelance work, a part-time job, or selling unwanted items at spring garage sales. Extra cash can make your summer plans even more enjoyable.
March is a great time to set yourself up for a financially stress-free summer. File your taxes early, start budgeting for summer fun, and get ready to enjoy a season full of memories without the money worries.
