Respondents who scored the highest in financial preparedness are likelier to expect a tax refund.Ībout Primerica’s Middle-Income Financial Security Monitor

The top reason for doing so is to reduce their tax burden (46%), followed by eliminating the stress of doing taxes (27%) and not knowing how to complete their tax forms (21%). Nearly one-third (32%) hire a professional to prepare their taxes. More than half (56%) say they prepare their own taxes, while an additional 10% say a family member, spouse or partner does their taxes for them. “The findings also show that nearly all of middle-income households who anticipate a refund are thinking about their financial security as they plan to apply refunds to reducing debt, paying bills, or add to their savings.”Īdditional Tax Insights from Primerica’s Middle-Income Financial Security Monitor “Primerica’s survey finds that most households were thoughtful in their financial planning so that they did not owe taxes at filing time, a sometimes painful surprise,” said Amy Crews Cutts, Ph.D., CBE ®, economic consultant to Primerica. Just 1% said they would put the money into a retirement account. Respondents who expect a refund say they plan to use the money to pay bills (37%), pay down debt (34%) or add to their savings account (33%). Among the roughly one-third (30%) of respondents who expect to owe taxes, a solid majority (81%) do not anticipate they will have problems paying them or need to go on a payment plan to do so. Roughly one-quarter (24%) expect to receive more than last year. The largest segment of respondents (36%) anticipate their refund will be less than last year, while one-third (33%) believe they will receive about the same amount. The survey found that the majority of middle-income families (60%) are expecting a tax refund this year. The national survey, in its third year, measures changes in the sentiments of middle-income families in the U.S. (NYSE: PRI), a leading provider of financial services in the United States and Canada, released tax data from the Middle-Income Financial Security Monitor for the first quarter of 2023. For this survey, a sample of 438 insurance licensing exam or continuing education course takers and 295 securities licensing exam takers was interviewed online, of which 172 prepared for an insurance licensing exam or took an insurance continuing education course with Kaplan and 162 prepared for a securities licensing exam with Kaplan.Of those who expect to owe taxes, more than 80% don’t expect to have problems funding them More than 90% Say Courses Are Comprehensive: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 295 securities licensing exam takers and 438 insurance licensing exam or continuing education course takers was interviewed online, of which 162 prepared for a securities licensing exam with Kaplan and 123 prepared for an insurance licensing exam with Kaplan. For this survey, a sample of 295 securities licensing exam takers and 438 insurance licensing exam or continuing education course takers was interviewed online, of which 162 prepared for a securities licensing exam with Kaplan and 172 prepared for an insurance licensing exam or took an insurance continuing education course with Kaplan.Ĥ Out of 5 Students Say Our Prep Is Similar to the Exam: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 295 securities licensing exam takers was interviewed online, of which 162 prepared for a securities licensing exam with Kaplan.ĩ Out of 10 Students Say Our Courses Are Comprehensive: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 438 insurance licensing exam or continuing education course takers was interviewed online, of which 172 prepared for an insurance licensing exam or took an insurance continuing education course with Kaplan.ĩ Out of 10 Securities Students Recommend: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. 9 Out of 10 Insurance Students Recommend : These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 438 insurance licensing exam or continuing education course takers and 295 securities licensing exam takers was interviewed online, of which 172 prepared for an insurance licensing exam or took an insurance continuing education course with Kaplan and 162 prepared for a securities licensing exam with Kaplan. 9 Out of 10 Students Recommend: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022.

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