Monday, September 28, 2015

A Resource on Tax Deductions and Refunds

Who doesn't want to get a larger refund from the IRS? I know a lot of people who seem to get a large refund every year, and I'm never quite sure how they do it. Well, after doing a bit of reading, I bet that many of them have learned how to use tax deductions for a bigger IRS refund.

Taxes are one of those things where you can get quickly bogged down and exhausted if you try to read the government tax code itself, but luckily there are a lot of good informational resources to choose from to pick up some tax tips. Just a few moments spent reading could result in a lot of money in your pocket.

Also, the tax laws do change a bit from year to year, so articles like the one linked above can be a good way to keep up with the latest rules and regulations. There are a lot of deductions that people often miss, and as a result, they miss out on extra savings. For example, did you move in 2015? Did you have a student loan? Did you contribute to a charity? These are just three areas where you might be able to add some deductions to your return.

By the way, there are also tax credits that you might be missing, so be sure to check for those, too. Some of the popular tax prep software programs walk you through deductions and credits, but it's also very helpful to have other background knowledge working in your favor when you start to get organized about preparing your taxes for 2016. It's never too early to start on research and preparation!

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