How to Actually Benefit from Tax Season

Business

0  Updated at 3:20 am, April 15th, 2013 By: ABC Digital
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iStockphoto/Thinkstock(NEW YORK) — If tax-filing season is the time when you look closest at your income and spending, it might also be the perfect time to reassess your broader financial situation.

Kathy Pickering of H&R Block says it may be a good time to ask yourself what adjustments you can make to your withholding. You might want to consider, “’Do I need to increase my charitable contributions? Do I need to keep better track of my expenses?’” Pickering says.

Going forward, there are big changes for many people in health coverage and expenses.

“Using your 2012 tax return helps identify if you’re going to be eligible for a health care subsidy,” Pickering says.

Enrollment in new health care exchanges is set to begin in October. Millions will qualify for coverage they don’t have now.

Copyright 2013 ABC News Radio



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