So in the spirit of Warren Buffett, look for ways to cut your spending this year. If that's more math than you'd like to do, look at it this way: every penny that you don't spend unnecessarily leaves more money to invest for the future or allocate to something you might enjoy more-like your next vacation.īy example, Buffett has demonstrated that being thrifty isn't just for poor folks. Whether investing in companies or buying everyday necessities, the Berkshire Hathaway Chairman and CEO (currently #3 on the Forbes Billionaires list) has been driven by the notion that small sums compound. Buffett, he writes, once said about himself that he was “working way up to cheap.” Roger Lowenstein recounts these and other examples of Buffett's personal spending habits in his biography Buffett: The Making of an American Capitalist. He drove a Volkswagen until his wife decided it was bad for his image and upgraded him to a Cadillac. While in New York signing up clients to invest six-figure sums with him during the 1960s, he reportedly phoned a friend from New York's Plaza Hotel to bring over a six-pack of Pepsi so he wouldn't have to pay for room service. The delay could be 12 months or longer.įinally, due to all the changes regarding Economic Impact Payments (EIP) (Stimulus) and Advanced Child Tax Credits (Advanced CTC), the IRS is having an extremely high call volume.When his first child was born, the famously frugal Buffett turned a dresser drawer into a bassinet. If the amounts differ, this will cause an extreme delay in your refund being processed at no fault of Penny Pinchers, LLC. The IRS will be comparing the amounts reported on your 2021 tax return to the amount that they have on file as being disbursed. Note: If the payments were received via direct deposit and you did not receive the above letters, please contact your bank to determine the total amount of all payments received for both the Stimulus and Advanced Child Tax Credit payments for 2021. Letter #6419 mailed in January 2022 informing you of the exact amount of the Advanced Child Tax Credit (Advanced CTC) received. Letter #6475 mailed in January 2022 from the IRS providing the exact amount of Economic Impact Payment (EIP)(Stimulus).

Some Important Information you may need to file your 2021 Income Tax Return:Īdvanced Child Tax Credit Payments information needed prior to completing your 2021 tax return:Įxact amount of the payments received for your Economic Impact Payment (Stimulus), and the Advanced Child Tax Credit. Penny Pinchers is still offering the refund advance up to $6,000.00 upon approval. To ensure everyone stays safe, drop offs are also welcome. While we are accepting walk-in appointments, we are asking that customers make an appointment to minimize the amount of people in the office as a Covid precaution. Beginning JanuPenny Pinchers will be open Monday thru Saturday from 8:00 a.m.

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