Barbara O’Neill, Extension Specialist in Financial Resource Management
Rutgers Cooperative Extension
March 2017
Don’t Overwithhold Income Tax Money- Invest It
Many people deliberately have extra federal and state income taxes withheld from their paychecks. Two advantages of overwithholding are that there’s no access to this money and, therefore, it can’t be spent recklessly, and the refund makes a nice windfall once a year to pay off debts or buy “big ticket” items. Two disadvantages are that taxpayers must wait …