Steps to Take If You Owe Taxes or Receive a Smaller Refund
In this video, learn what to do if your tax refund is smaller than expected or if you owe taxes. Key steps include thoroughly reviewing your tax return for errors, double-checking your withholding amounts, making quarterly estimated payments for side income, redirecting excess spending towards financial goals, and promptly contacting tax agencies if you owe taxes. The video also offers a comforting reminder with a quote from Romans 8:28.
00:00 Navigating Tax Surprises: Steps to Take
00:10 Step 1: Review and Seek Assistance
00:21 Step 2: Adjust Your Withholdings
00:31 Step 3: Make Quarterly Payments
00:37 Step 4: Redirect Your Spending
00:42 Step 5: Address Taxes Owed Promptly
00:49 A Word of Encouragement
