Taxes
|
Life Situation |
Financial Data |
|
Single |
Monthly Income $1,750 |
|
Age 21 |
Living Expenses $1,210 |
|
No dependents |
Personal property $7,300 |
|
College student |
Savings $2,000 |
|
|
Student loan $3,000 |
|
|
Credit card debt $2,400 |
Shelby Johnson has been working at a local pet store in the grooming department. She has just received her W 2 statement from her employer so that she can prepare her taxes. Her tax withheld from her paycheck is normally greater than the tax owed as calculated on her tax return. In the past, she has used her tax refund to build up her wardrobe with a shopping spree. However, as she gets close to graduating she is reconsidering this behavior and needs help deciding on a better alternative.