DEBUNKING THE TAX MYTH: SHOULD YOU REALLY BE EXCITED ABOUT THAT BIG TAX REFUND?

Around March and April every year, we often hear friends and colleagues excitedly proclaim the amount of the tax refund they expect to receive as a result of that year’s income tax return. A competition ensues as they discuss who is getting the largest refund, and what they plan to do with the money. Businesses often capitalize on this opportunity to advertise sales and offer promotions that will allow taxpayers to utilize their refunds for large purchases. However, should we really be pleased to receive large tax refunds year after year? Paying Our Taxes Most working Americans have the...

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