Friday, March 17, 2017

IT'S TAX TIME, DO YOU KNOW WHERE YOUR REFUND IS GOING?

If you're expecting a tax refund this year, have you decided where to spend the money?  Some people use it to pay bills, some buy a new car or other frills, I'm all for buying myself a raise.  No, I don't mean I'm bribing my boss to give me a raise, I mean I'm investing my tax money in dividend stocks to give myself a raise in monthly dividend income.

I'm happy to report my tax strategy worked out well and reduced my taxable income to the point I owed $0 in federal income taxes.  This, in spite of the fact my earned income increased dramatically in 2016.  Finalized and filed my tax return last week and have already put in the order to purchase shares which will boost monthly cash flow from dividends by a little over 5%!  Nice little raise and I'd be quite happy with that, but I also figured out how to boost dividend income another 5% per month in April by investing an unexpected bonus from work!

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