If you have debt, funds from your tax refund can help contribute towards paying down those bills—it might boost your credit score too. You can increase your purchase power by using your tax refund to fund a secured credit card. Is the money from your tax refund giving grand ideas of spe...
The term “tax relief” can refer to a number of things within the world of taxes. Broadly speaking, any measure or incentive that helps taxpayers legally reduce their tax bills can be considered tax relief in terms of policy. This can include popular breaks, such as tax credits, tax deduc...
Resist temptation to book a vacation with yourrefundand tackle that debt instead. Start with debts with the highest interest rates; eliminating these will save you the most money in the long run. If you don't have any credit card debt, use your tax refund to reduce your car or student ...
Discover five proven methods to maximize your tax return! Learn how tax deductions, credits, and strategic planning can help you get the most back this tax season.
Even if you don't itemize your taxes, you should still look to take tax credits when applicable. Doing so can reduce your tax liability on a one-to-one basis, e.g., if you owe $3,000 in taxes but then claim a $1,000 tax credit, you would only owe $2,000. ...
“However, you need to make sure you’re claiming all the credits and deductions possible.” “If you want a larger refund next year, consider filling out a new W-4 and asking your employer to withhold more income tax from your paycheck,” he adds. Remember, though, that a larger tax...
Tax Credits vs. Tax Deductions There are many strategies consumers can use to deal with their debt and get ahead. Geoff Williams and Erica SandbergMarch 28, 2025 16 Things to Do When You're Deep in Debt Almost everyone who earns money has to pay the OASDI tax, so familiarize yourself wit...
Get tips House of Savings Play our fun, interactive game to learn simple ways to save energy. Play now The power of savings Reduce your energy use and lower your bill with rebates, tax credits and energy-saving programs designed with you in mind. Ai...
Many states offer state income tax deductions or credits to residents who contribute to their own state’s plan, while some states offer tax deductions or credits regardless of which plan you invest in. Additionally, unique to 529 plans, the federal tax code allows you to front load up to ...
Andrew Dove