After the tax return is filed, financial advisers say it's smart to see if changes would improve the picture next year. Taxpayers should examine and adjust the amount of taxes that are withheld from their paychecks if either their refund or payment was too large. The point is for you to get the use and enjoyment of your money when you earn it, rather than making an unintentional interest-free loan to the government. If a balance was owed on the 1040 form, consider increasing tax withholding and making estimated tax payments to avoid an underpayment penalty. Most people can avoid that penalty by ensuring that withholding or estimated payments equal the lesser of 90 percent of the 2000 tax bill or 100 percent of the 1999 tax bill.
Taxpayers can get a home equity loan for major purchases, projects or other needs.
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