Online Tax Return
Get More Back!
To tax is to press upon an individual, family, or organization a monetary charge by a government entity such that insufficiency to pay would be punishable by law. Money from taxation is used in a million different ways such as protection of property, funding wars, public works, and public protection. Thus, taxation is an indispensable evil. It's definitely needed, but we most definitely hate it. Especially when tax season rolls around and we are left having to pay an extra amount to the government. Hopefully you will find this article quite helpful then. We'll jump in and discuss some options that will most likely help you get more of your online tax return back.
* This article is meant for those doing their taxes online and not in a brick and mortar business.
ONLINE TAX RETURN
If you haven't decided yet whether or not to do your taxes online, this is the perfect opportunity to try it out and see if it's the best option for you. Most (if not all) online tax return software will allow you to fully complete your W-2 importing and even find out what you'll be getting back before you even have to pay anything. If you do this and find out that you have to pay, then you can simply exit out of the online tax software and try another preparation program. The simple trial-and-error route is great with online tax software. Not only does it make your life much easier, but faster as well. Sometimes a few hundred extra dollars in your pocket will be worth the time spent trying this method out. You could also listen to what I have to say, skip those steps, and continue to come out ahead.
WAYS TO GET MORE BACK
So how do we go about getting more money back from our online tax return this year? There are a few steps, and many more options, but we'll only cover a few that most people use to receive a higher online tax return. The first being an easy-to-use tax preparation software known as TurboTax. You can decide for yourself by visiting a review of the top three tax software here ----> TurboTx vs TaxAct vs HR Block at Home.
This tax software is fairly inexpensive and collects for you a much higher online tax return. I've used this program in the past and have received as much as $400 more than any other tax program on the market. The reason for this is the fact that TurboTax provides you with more options to input information than others. It's also extremely easy to navigate and has a tremendously supportive help center and forum. You can have all your questions answered very quickly. If you actually receive a higher tax return from using this program, then the $30 price tag is unquestionably worth it. Get TurboTax now.
Earned Income Credit
The next option for receiving a higher online tax return is the Earned Income Credit. This has proven to be an awesome resource for procuring as much as $5,000 more per year. Let me say that again. "You can receive as much as $5,000 more for just filling out the Earned Income Credit (EIC) portion of your online tax software." And going back to TurboTax, this is the easiest way to fill this section out. Use TurboTax, you will be quite pleased.
Last year was the first time I ever actually decided to fill out the EIC portion of my online tax return and, to my surprise, I got back over $2,500 MORE! Now I'm not going to go one more year without filling that part out (unless I make over $49K in a year). This is the only stipulation for the EIC. If you've made over $49,ooo in the past year, you're not eligible for the EIC. But that still leaves most of us able to fill this portion out.
Make Some Babies
If you're on the fence of whether or not you desire to have children (or even more children), then hopefully your online tax return will not be the only thing pushing you over that fence. But if this is a huge decision-maker, then you'll want to know that you are eligible for around $1,000 per child back from the government. This can be a huge incentive to have more children (but don't be unprepared, children can cost a lot more than $1,000 per year). If you're already wanting kids, make the decision, and get more money back per year from your online tax return. Making babies can be the best part of receiving a larger tax return! ;)
Claim Less on Your W-4
If you want your tax money back, the easiest way to do that is to claim less on your W-4 at work. The government will take more from your paycheck, but it's like putting money away into your bank (without the interest). I don't suggest this being the best option, but it certainly can keep your money safe while getting a huge check back at the end of the year.
You may be wondering how giving money away will help you get more money back from your online tax software. But this time around it can be more than just getting a higher tax return. Not only are you helping your community or the charity of your choice, but on your tax program, you can input these donations and receive more of a return. Not only can you give money, but it's possible to give cars, antiques, books and other media resources, and receive back hundreds of dollars for these things. Remember to get a receipt for everything you donate.
Student Loan Interest
If you're paying off student loans, you are definitely eligible to receive a higher tax return for all of the interest you've been paying Sallie Mae. It may not be much, but every little bit counts. I know some students who have paid thousands of dollars worth of interest per year to end up not getting any of that back because they didn't input this information. Bummer!
Deduct Your Home Office
I know that many people nowadays (including myself) are working from home. Whether that's just doing business as a sole proprietor or a full-fledged LLC, you can deduct the space in your house that you do your work. Most tax software will have options for you to input this information. Think about it, write a few articles per year on InfoBarrel and now you're working from home! Sweet! More back in your online tax return.
So these are just a few of the many ways you can get more cash back in your online tax return. And that's deinfitely worth your time and effort inputting a little bit more information. So go try out TurboTax (I'm serious, this is the BEST program to use for your yearly taxes). And they've even got a free tax software section if that is what you want. I find that the amount you receive back is well worth the extra thirty bucks. Hopefully you found this article helpful and to make it easy on yourself, I've added a link to both the TurboTax software and the H&R Block at Home software on Amazon over in the signature box. If youre' on the fence on which online tax software to use, check out the TurboTax vs TaxAct vs HR Block at Home review. Good luck this year and I hope you receive tons more online tax return cash this year because of this post. You're welcome to come back and leave a comment to let me know how helpful this was. I'd love to hear it!