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FLATHEADBEACON.COM BUSINESS MONTHLY MARCH 26, 2014 | 31

EMPLOYMENT OPPORTUNITIES WITH
FINANCIAL CORNER Jesse Rigler

Put Your Tax Refund to Work

I
T MAY NOT BE ALL THAT MUCH you have for making good use of your tax
fun to ile your taxes, but, while refund. Here are a few other possibili-
We ask. We listen. We serve.
you’re working on them, you do get ties:
At Immanuel Lutheran Communities
to eagerly anticipate that one big ques- • Pay of some debts. If you have a large
Director of Food & Beverage/Executive Chef - Full-time tion: Will I or won’t I get a tax refund? If tax refund, you could use the money to
you receive a refund, you’ll have to an- retire some debts, or at least cut them
Night Security - PRN
swer another question: What should I do down to a more manageable size. And
At Immanuel Skilled Care Center
with it?
the lower your debt load, the more
Your answer may depend, at least in money you will have available to invest
CNAs- Pool & various shifts
RN & LPN - Various shifts part, on the size of your refund. In 2013, for your future.
Housekeeper/Laundry Aide- PRN
the average federal tax re-
• Help build an emergen-
Non CDL Bus Driver/Recreation Leader - PRN Saturdays fund was about $2,650. Of
cy fund. It’s a good idea
course, your refund may
“IN 2013, THE to build an emergency
Cook/Dietary Aide - Part-time & PRN
be less than this amount
fund containing six to 12
Nurse Educator/Compliance Auditor - Part-time
(although it could also be
months’ worth of living
PCA- Full & Part-time and PRN
more), but if you were to
AVERAGE expenses, with the money
receive a $2,650 refund
held in a low-risk, liquid
Masters’ Social Worker – Full-time
FEDERAL TAX
Waitstaff - Part-time
this year, what would you
account. Without such a
Director of IT - Full-time
do with it?
REFUND WAS fund, you may be forced
to dip into your long-term For one thing, you
(PRN= as needed)
ABOUT$2,650.” investments to pay for could put the money into
Immanuel Lutheran offers competitive wages, employer paid beneits short-term needs, such as an IRA. In 2014, you can
package for employees, including health insurance, dental, vision, life a new furnace, a major car put in up to $5,500 to a
insurance, short & long term disability & 19 days of paid time off.
repair or a sizable medi- traditional or Roth IRA,

APPLY IN PERSON AT:
cal bill. Consequently, you so your $2,650 would rep-
may want to put some, or all, of your
resent nearly half your total yearly con-
tribution. (If you’re 50 or older, you can tax refund into such a fund.
Immanuel Skilled Care Center, 185 Crestline Avenue put in up to another $1,000, for a total • Invest in a college savings vehicle. You
or Buffalo Hill Terrace, 40 Claremont, Kalispell limit of $6,500.) But even if you only could use your tax refund to invest in
put in that $2,650, and you left it alone, a college savings vehicle, such as a 529
(406) 752-9622 • www.ilcorp.org • DOE/EOE
it could grow signiicantly. In fact, after plan. With this plan, your earnings
30 years, your $2,650 would have grown grow tax-free, provided all withdraw-

to more than $20,000, assuming no fur- als are used for higher education ex-
ther contributions and a hypothetical 7 penses. (Keep in mind, though, that ppy Hour
percent annual return. And if you were 529 plan distributions not used for Ha
able to put in that same $2,650 every qualiied expenses may be subject to
single year for 30 years, again earning federal and state income tax and a 10% Pints and
the same hypothetical 7 percent annual IRS penalty.)
return, you would end up with almost As you can see, you’ve got some good ers
$268,000*. Keep in mind, though, that choices for using your tax refund wisely. Appetiz

you will eventually be taxed on your Consider them carefully, and make the
traditional IRA earnings. Earnings in moves that work best for you.
-5pm
a Roth IRA can be withdrawn tax-free, *Example is for illustration purpos- from 3!
provided you don’t start taking with- es and does not relect the performance every day
drawals until you’re 59-1/2 and you’ve of any speciic investment. Illustration
had your account at least ive years.
does not include charges and fees that
While funding your IRA certainly could have a negative afect on the per-

can be beneicial, it’s not the only choice
formance.

Jesse Rigler is a inancial advisor at Edward Jones in Kalispell.

we carry only the

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DEPOT
TOBACCO SUPPLY STORE

4 RIVER ROAD, KALISPELL
(406) 257-6653
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