Daily Juice – Do you owe taxes this year? Ideas to pay
Welcome to the Daily Juice Show, where we discuss just one “ingredient” of the complex money topics you face.
Alright … not the best position to be in, but you’re not alone! You might not want to hear it, but it’s actually a good problem to have. When you have a huge tax bill, it means you earned more income.
Let’s talk about some strategies to figure out how you are going to pay your current tax bill.
- Should you use a credit card? 0% interest? Maybe. Make sure that transfer fee(s) is not huge. I know we are all after points and rewards, but think about if it’s worth it.
- You can take an installment agreement with the IRS. You can get up to 72 months to pay off your balance. It doesn’t affect your credit score, because it’s an installment agreement. There a small set up fee for your account and current interest rate is 3%.
Until next time, remember: It’s your money, and your future wealth, just one sip at a time.
