2 Simplest Ways to Maximize Your Tax Refund

Yes. It is almost tax time and one of the main concerns for tax payers is the amount of their refund.

So, how can someone maximize their refund? Well, the two simplest ways to do that hasn’t changed in many years. In fact, these options has proven to work for individuals who need money to pay back the IRS or a little extra cash in their pocket. Here are the options below:

1. Charitable Donations – Tally up your monetary and tangible donations. This is the perfect time to clean out your closet of those old/slightly used clothing and donate it organizations like Goodwill. But, before you claim your donations on your tax forms, understand the IRS’s policies regarding charitable donations (i.e. Cash or property donations must equal $250 or more; noncash donations must total $500 or more and must be filed on Form 8283).

2. Medical Expenses – Doctor visits can be a detriment to our wallets. Emergency room visits, prescription purchases, for example, can be costly. Good thing is that filers can claim these expenses on their taxes. So, remember to gather your medical bills/receipts and include those amounts on your taxes.

Don’t worry…there are more ways to maximize your tax refund. To find out what they are, visit IRS.gov or TurboTax.com.