In a recent survey conducted for the American Institute of Certified Public Accountants by Harris Interactive, it was found that 46% of U.S. adults expect to put their tax refund into savings. An additional 37% will use the refund for day-to-day expenses, and a third plan on using their tax refunds to pay down debt.
The survey was conducted as part of the National Financial Capability Month in April. To learn more about the results, please visit the following article from the Journal of Accountancy: http://www.aicpa.org/Press/PressReleases/2013/Pages/AICPA-Survey-Many-Tax-Refunds-Headed-to-Bank-Grocer-Gas-Station-This-Year.aspx.
Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. The firm provides tax planning for individuals, corporations, trusts and estates that are seeking effective strategies to keep more of what they’ve earned. We also prepare all types of tax returns, including individuals, businesses, gifts and estates, trusts, nonprofits and foundations.For more information please call 802.878.1963 or email [email protected].
Jessica Taylor, Associate Accountant
Davis & Hodgdon Associates CPAs