Focusing on a Tax Refund? Do Some Tax Planning Instead

Focusing on a Tax Refund? Do Some Tax Planning Instead
The Internal Revenue Service (IRS) building is seen in Washington on Feb. 19, 2014. Jim Watson/AFP/Getty Images
Carrie Schwab-Pomerantz
Updated:

Dear Carrie: When I did my taxes this year, I wound up owing a lot to the IRS. A friend at work mentioned they got a huge tax refund. How can I get a refund next year?—A Reader

Dear Reader: The end of tax season always brings a host of questions from readers. Mostly, they boil down to “How can I pay less in taxes?” or “How can I get a bigger refund?” Many readers don’t realize that these are two very different questions.

Carrie Schwab-Pomerantz
Carrie Schwab-Pomerantz
Author
Carrie Schwab-Pomerantz, a certified financial planner, is president of the Charles Schwab Foundation and author of "The Charles Schwab Guide to Finances After Fifty."
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