Benefits Package

Make sure to take advantage of all benefits and tax reductions:

• Many employees are unaware of the benefits offered by their company.  In addition to saving  and health benefits, your firm may offer other benefits for you and your family.  Please check the entire list of employee benefits. 
• Find out where, when, and how the benefit may be available to you. 
• Employees are reimbursing employers for business expenses that are not deducted. The average tax refund is always in the thousands of dollars; If you are receiving a refund, you are giving the government an interest-free loan.
•  If you had that refund through the year, you could use it to pay down any outstanding debts. If you are carrying a credit card balance, you could use that money to pay down the balance and pay less interest. If carrying a mortgage,  you could use the extra cash to pay that down. 
• If you are debt-free, you could be saving that money into an emergency fund. Over withholding can really cost low-wage earners -- not so much in lost interest income but in inconveniences such as putting off a doctor's visit, parking a broken-down car.
• Employees are not taking advantage of tax breaks for their home, auto, and phone when they are working out of the office.