Wealth Advice & Tips

Why You Should Look Forward To Tax Season

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The radio ads for TurboTax and H&R Block that have been blasting through your car speakers all month long can only mean one thing: Tax season is here.

While many Americans have come to dread the annual exercise of sorting through W2s and 1090s to calculate what they owe Uncle Sam, there can be some benefits to filing your taxes.

If your income falls into a certain tax bracket you may get a sweet return. But even more importantly, tax season is great time to take stock of your credit report. 

Why is checking your credit report so important?

Almost everything you pay for in monthly installments is compiled by credit bureaus into a single document known as your “credit report.” The information in this report is assigned a numerical value called a “credit score.” 

That information is then sold to businesses who want to make a credit decision about you. If you ever plan on renting a piece of property, buying a car or even getting cable, those companies will check your credit report before deciding to do business with you. 

Checking your credit report periodically is an essential habit of those who have good finances. 

But too often those with bad credit histories avoid looking at their credit report because they falsely believe they could never have the credit score they desire.  Even people with bad credit scores can improve their reports if they understand how to use the credit bureau system to their advantage.  

In the second installment of my generational wealth classes, I offer you proven strategies to increase your credit score. 

THEO’s exclusive “Credit Repair Plan” has helped countless clients of mine fix what they thought was an irreparable problem. If you need to improve your credit, don’t let this tax season pass you by without taking this essential step toward achieving generational wealth. 


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