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5 Tips For Getting A Maximum Tax Refund

<p style&equals;"text-align&colon; justify&semi;">Spending just a little more time researching potential deductions can fatten your refund check&period; Arm yourself with knowledge by boosting your tax credits&comma; working with a professional and timing payments for specific expenses&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Use these 5 smart tips to receive a maximum tax refund check&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Boost Your Credits<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Your refunds will increase if you boost your tax credits&period; Most Americans don’t claim the earned income tax credit&period; Working&comma; single taxpayers with no children can still claim the earned income tax credit if they meet the guidelines&period; Lower your taxes by a buck for each credit dollar you claim&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Couples with children attending college can explore credits relevant to higher education expenses&period; Graduate students may be eligible for learning-related credits too&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Work with a Professional<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Working with a certified public account leverages both your time and knowledge&period; Tax professionals know how to maximize your refund based on your specific situation&period; Hiring someone gives you access to tax knowledge and lesser know laws which you’re probably unaware of&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Spending your precious time and energy to find out all you need to know to lighten your tax burden can be an arduous task&period; Even if you save a few dollars come tax time you’re almost certainly missing out by not working with a licensed professional&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Pay a pro to maximize your refund check&period; Adopt a big picture approach to your taxes&period; A small investment spent hiring a professional can reap massive returns in the long run&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Time it Right<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Increase the size of your refund by watching the calendar&period; Maximize your mortgage interest deduction by send in January’s mortgage payment prior to December 31&period; Increase your medical expense deduction potential by setting up health-related exams for the last quarter of the year&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Send in your property taxes by New Year’s Even to increase your refund&period; Paying before this date will make the difference between going with the standard deduction or itemizing&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Self-employed entrepreneurs should pay fourth quarter estimated state taxes in December instead of January to itemize effectively&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Max out Your IRA<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Increase your IRA contributions to the maximum level to reduce your taxable income&period; Open a traditional IRA before April 15 to boost your refund for the prior tax year&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Aggressively Explore Deductions<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Some individuals are nervous to explore tax deductions for fear of being audited by the IRS&period; If you’re working within the bounds of the law you’re entitled to any and all deductions possible&period; Log trips to the doctor’s for appointments&comma; job searches and volunteer work to maximize your deductions&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Make sure to keep taxi&comma; bus&comma; toll and parking receipts for your records&period; Keep accurate travel records to reach the threshold for adjusted gross income so you can make miscellaneous deductions&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Travel&comma; storing and moving expenses can be deducted if you are moving 50 miles for a new job&period; Working full time at the job for at least 39 weeks is a requirement to be able to file these types of deductions&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Contact Wallace and Associates for your tax preparation needs&period;<&sol;p>&NewLine;

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