Today is the deadline for filing your personal income tax return (unless you’re in one of the areas that was granted an extra two days due to bad weather). Are you getting a refund? If so, you may want to consider adjusting your withholding.

Cash windfalls are always nice, but large tax refunds are costing you money. Consider that every $1,200 you receive as a tax refund is $100 a month that you could have been getting and using—or even just saving in an interest-bearing account. Instead, the government was able to use your money absolutely interest-free for a year. If you want to loan the government money, consider savings bonds because at least that way you'll be getting interest.

A qualified tax advisor can help you plan your withholding (and your estimated tax payments on income not subject to withholding) so that your tax refund (or payment) is nominal.

Jackie