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David Zimmerman: Expert tips for Tax Day returns

David Zimmerman
David Zimmerman. Photo courtesy Atlantic Union Bank.

Tax Day is quickly approaching, and according to the National Retail Federation, 59 percent of consumers expect a refund this year.

To help make the most of your return, Atlantic Union Bank Wealth Management President David Zimmerman offers the following tips:

Pay off your debt: Grant yourself financial freedom by using your return to pay off any debt you owe. If you don’t have enough to pay for all of it, consider making a larger payment than you normally would to help reduce the total.  

Save with a purpose: Put some of your return toward your savings and set a financial goal for 2022. Brainstorm ways to increase your wealth whether it be a new investment, refinancing a loan or securing the next promotion. Check in mid-year and see where you need to make adjustments. If you don’t have an emergency fund, now would be a good time to start one.  

Invest in your retirement: By investing annually in retirement plans like a traditional IRA, you may be able to claim an annual deduction on your taxes. Research your eligibility and invest now in your future.   

Donate to a good cause: Do good in the world and make yourself feel good. When we volunteer our time or donate to a cause close to our heart, we are often left with feelings of gratitude. A gift to a qualified charitable contribution may also entitle you to a future tax deduction.

David Zimmerman leads the wealth management division of Atlantic Union Bank, including investment services, retirement planning, insurance, asset management and private banking and trust services for individuals and institutions. 

augusta free press
augusta free press
augusta free press

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