5 Hidden Ways to Boost Your Tax Refund Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2024 • October 16, 2024 1:58 AMOVERVIEWHere are five tried-and-true ways to reduce your tax liability at tax time. Pay no more than you owe, or even increase...
The average U.S. tax refund is $2,903, according toIRS data, which is a significant boost to your savings or investments if used strategically. Once you understand thebasics of income taxesand are sure your tax return is correct, you can move on to deciding how to spend your refund. M...
Laying the groundwork for a tax refund requires some simple tax planning, a little research and some forethought. Reviewing your tax status, consulting your spouse when filling out your W-4s and taking advantage of several tax credits can help you increa
While these are some of the best ways to reduce your tax liability and perhaps increase your tax refund, keep in mind that there are many other ways to boost your tax return this year and in the years to come. That said, you don't necessarily want to become overly fixated on tax cred...
Is your interest rate well below that? If it is, it might be better to use your tax refund to start investing for retirement. Time is the most crucial factor in retirement investing, and the more you lose, the more money you leave on the table. If you do have student loan debt with...
5. Upgrade Your Digs With a couple thousand bucks and some elbow grease, you can boost your home's resale value immensely with a bathroom or kitchen update or a painting or landscaping project. "In a buyer's market like this one, if there are 100 houses, all similar, a buyer will tak...
Consider the following tips, which can help you boost your savings — regardless of your current stage of life — and pursue the retirement you envision. 1. Focus on starting today If you're just beginning to put money away for retirement, start saving as much as you can now. That w...
Paying your credit card off, or just paying down its balance, with your tax return can help you improve your credit utilization,boostyour credit score and become overall more financially stable in 2020. With already over 37 million people receiving a tax refund this year,Selectspoke to personal...
Brush up on ways to boost your savings and get smarter about banking strategies. Here are five actions you can start today.
8. Get Creative to Boost Your Savings Rate If you want to hit your savings goal and buy your big purchase faster, think outside the proverbial box to save more money. For instance, how much faster could you save money if you didn’t have a housing payment? Find a way tohouse hackto...