College Money

I know if you are anything like me then you can’t wait until that refund check comes in the mail or by direct deposit from the government. The question is how long does it take to get tax refund back?

The answer to that is simple yet a little complicated.  The length of time it takes to get tax refunds back depends on when and also how you filed your taxes.  If you are filed your taxes electronically then you will receive it back faster than if you mailed it in.  According to the IRS it should take about 3 weeks if you are like the 2 out of every 3 people that filed their taxes electronically.  If you are that other 1 out of 3 then it can take at least 8 weeks before you receive a check in the mail.  That is, if you did everything correctly.  If this amount of time has passed and you did not get your tax refund back then there is a system in place that allows you to check on the process and see what the hold up is and when to expect to receive your money.

Now once you’ve received your refund there are lots of ways to put that money to work for you other than just spending it frivolously. For example, you can always save that money for a rainy day,  pay off your debts,  invest it, or use your refund check as start up money to start some type of business or service that will generate even more cash for you. There are lots of business that you can start up on a shoestring budget. Some ideas are:

Bookkeeping/ Accounting – this is an in-demand services that many small businesses would rather hire someone to do.  And the good thing is, you don’t need to be an accountant to do it.

Petsitter or Housesitter – people are always on the lookout for someone to watch their  homes or pets while they’re out of town. For this business, you don’t need any particular skills or training  just reliability and trustworthiness.

Tutoring – many parents would love to have additional instruction for their children. If you’ve got a subject that you’re particularly good in, you can start a home tutoring business.

Secretarial Service -there are lots of people and small businesses that have the need for secretarial services. You can offer services such as proofreading, typing and transcription services.

Catering Service-  in the fast paced world we live in, many people just don’t have time to cook.  If you like cooking, you could start your own catering services. You can also cater for business or parties.

Cleaning Services – cleaning is another activity that people don’t seem to have a lot of time for nowadays.  If you’re good at cleaning and organizing, you could easily take advantage of this in demand service.

Personal or Shopping Services – this is another great service to offer, especially during the holiday season.  One of the most important characteristics for this is dependability and trustworthiness.

With most of the above businesses, start up is quite low. Not only that but you can get going with these tasks quickly and easily. The most important aspect of getting started in any of the above businesses is advertising your services. But even this is doable.

If none of the above businesses sound like anything you’d be interested in, just do some brainstorming of your own. The type of business or service you begin depends on your skills and interest.  When starting a business or service think about something that you like and know how to do well that can turn a profit.  For example, if you like to bake cakes, cookies, pies and that sort of thing, then you could take your refund check and use it to start a business selling these items out of your your home.  If you do something you love and make money while doing it, then that’s a win-win situation.

So now that you know how long it takes to get tax refunds back, and what to do with it once the money arrives -  its up to you  how you’re going to spend it.