What Should You Do With Your Tax Refund?

It’s almost that time of year when many people start receiving their tax refunds. If you get one, what will you do with it? Of course, the answer will depend somewhat on how big your refund is. Last year, the average refund amount was about $2,750, according to the Internal Revenue Service’s Filing Season Statistics report. Whatever the size of your refund, you’ll want to maximize its benefit. Here are a few suggestions: • Contribute to your IRA. If you were to receive about $2,750, it would go a long way toward funding your IRA for the year — but…

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