ROCHESTER, N.Y. (WROC) — The tax season is over but CPA Scott Adair with the New York State Society of CPAs says now is the time to focus on your next financial steps.

Adair discussed three “what’s next” options Thursday during News 8 at Sunrise.

If you’ve received or are awaiting a refund on your income tax return, Adair said to take a look at your budget.

“This is an opportunity to reflect on that and maybe put some money aside if you got a refund,” Adair said. “Put it into a savings account or a college savings plan. Really reset where you’re at and also take a look at your W-4. If you don’t want to get as large of a refund next year you want to change your withholdings.”

If you owed money to the IRS on your 2021 tax return there are a couple of things to consider.

“You really need to take a look at the return,” Adair said. “Make sure you didn’t have any one-time item like you sold something and you had a capital gain last year that you had to pay tax on that you weren’t expecting. But if it’s just from your standard dividends, interest, and wages — you may want to walk down to your payroll department and again take a look at your withholdings and adjust that withholding so that you’re getting more taken out of your paycheck on a weekly basis or bi-weekly basis, whatever that may be, in order to save yourself the agony of having to cut a big check at the end of the year. Now I know some people do like to have that big check cut at the end of the year and not give the government any additional money during the year so it’s a personal preference.”

Finally, Adair said now is a good time for a financial reset.

“We settle up for 2021 and now we need to start looking ahead to the 2022 tax filing season. Certainly, take a look at your withholdings. Take a look at the items that were on your tax return for any big-ticket things that may change for this upcoming year. You certainly want to make sure that your budget is in place for the 2022 calendar year as well from that perspective.”

For more smart money advice visit the New York State Society of CPAs website, nysscpa.org.