As a former Bostonian, Tufts University Alumna and yes, Red Sox (and Patriots) fan, I am proud of the way that the Boston community has come together after the bombing and hope that justice is served in the face of such an atrocity. This act of terrorism killed several people, injured over 170, and have left many still in the hospital unable to afford their new medical bills.
Students in the area began selling “Boston Strong” T-Shirts and now Adidas, The Celtics, Red Sox and more have all begun selling “Boston Strong” T-Shirts with proceeds going to charity. The Adidas Boston Strong T-Shirts are supporting the One Fund Boston Charity with 100% of the proceeds supporting victims of the bombing.
It’s that time of the year folks. If you haven’t done your taxes already, you better get to it, you have a bout a month.
What to do? Well you’re either getting a refund, getting nothing or paying up. So here are a few tips for whatever situation you might have.
1. Have to pay up? Now is a great to do some spring cleaning in your closet. Make some money and sell off those old handbags or clothes you haven’t worn in over a year to a consignment shop. There are plenty around and even online (i.e. I-Ella.com, or LXR & Co).
2. You can also give those old clothes and even pieces of furniture to charity for a tax deduction.
3. Getting a refund? Well you can save it in the bank if you don’t have your 3-6 months of emergency reserves. Or, you can save it in a mid to long-term vehicle like a brokerage account, cash value life insurance or an IRA.
4. Been saving all year? Pat yourself on the back and reward yourself with a gift from the new spring collections.
5. Plan a vacation. Cheap or not. It’s always great to get away. Make sure to take a new bikini and sunglasses with you.
Whether you’re paying up or getting a refund, make sure to carefully review your taxes with not just an accountant, but a financial professional to ensure that you’re not missing any opportunities to save.