As we approach the holiday season, money might be getting a little tight. It’s unfortunate, but every year, millions of Americans will pile debt onto debt as the holiday shopping madness ensues. Of course, it all kicks off this coming Friday, the day after Thanksgiving: Black Friday.
Though you might end up spending more than you care to know, ComplaintsList.com has a list of suggestions to help you reclaim some money this spring! If a big check in April sounds good to you, then keep reading for these tips on how to get a huge tax refund…
You can always increase withholding to get a bigger refund. Of course, this doesn’t actually result in more money. It’s really just a psychological trick. But, hey… that’s why it’s the first suggestion on the list!
Are you filing under the right status? If you were recently married, make sure you start filing with your spouse as a married couple. In just about every case, you can save a ton on deductions. This is a huge category.
Does your line of work have a lot of expenses? From cell phones to industry organization memberships, deduct your professional expenses.
Deduct everything you can. Every dollar you deduct is a dollar you don’t pay taxes on, which – in our book – is a great thing. Deduct everything from the gas you use to drive the Boy Scouts to camp to the canned food you gave to the Thanksgiving food drive.
If you’re a big earner and a big spender, then you might want to shell out a few extra dollars to have your own tax planner. Make the most of your taxes, deductions, and refund when you plan it out at the beginning of the year.
Here’s a powerhouse recommendation: contribute more to your IRA or retirement account. Sure, you may not get this money back on your tax refund. But, up to a certain amount, you don’t have to pay any taxes on it.
Healthcare costs and other expenses can be deducted on your children. Kids are expensive; take a break when Uncle Sam will let you.
Make sure you’re using a software program like TurboTax that is up to date on new tax laws and other information. Otherwise, you could be missing out on awesome deductions you aren’t even aware of.
Lastly, if you’ve run into issues as a consumer with tax services, don’t hesitate to file a complaint on Complaints List today. Other consumers need to hear your story!Back To All Consumer Resources