Comments on: Tips to increase my tax refund for next year? http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/ Get Ready for Tax Season | Income Tax Filing | Tax Help | Tax Deductions | Online Tax Preparation | Business Taxes | Tax Shelters Tue, 12 Jan 2010 14:31:37 +0000 hourly 1 http://wordpress.org/?v=3.0.2 By: jlf http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-118 jlf Mon, 06 Jul 2009 16:52:46 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-118 Given those facts, there is no way to lower your total tax. You can increase your refund by increasing your withholding now. Given those facts, there is no way to lower your total tax. You can increase your refund by increasing your withholding now.

]]> By: Emily E http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-117 Emily E Mon, 06 Jul 2009 16:38:57 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-117 As a single man who I assume doesn't own a home. There isn't a lot you can do. Buying a home allows you to deduct the loan interest and property taxes. Then you can also claim car tabs, donations, job expenses, but this will cost you more money in the end if you don't have other reasons to buy a home. You could also adotped a child and then you can claim 2 and be head of house hold instead of single, but a tax savings is not a real good reason to become a parent. Depending on your income, you may also be able to contribute to a qualified retirement account and get a deduction for that. As a single man who I assume doesn’t own a home. There isn’t a lot you can do. Buying a home allows you to deduct the loan interest and property taxes. Then you can also claim car tabs, donations, job expenses, but this will cost you more money in the end if you don’t have other reasons to buy a home. You could also adotped a child and then you can claim 2 and be head of house hold instead of single, but a tax savings is not a real good reason to become a parent. Depending on your income, you may also be able to contribute to a qualified retirement account and get a deduction for that.

]]> By: 123456789 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-116 123456789 Mon, 06 Jul 2009 16:35:00 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-116 Contribute to 401K and take advantage of other pre-tax payroll items (ie. cafeteria plans, FSA) If you are not on the company's retirement plan, you can contribute to a Traditional IRA account which would be deductible Also, if you are investing on your own, then seek qualified dividends and long-term capital gains, tax rate is 0% or 15% depending on your income. Contribute to 401K and take advantage of other pre-tax payroll items (ie. cafeteria plans, FSA)

If you are not on the company’s retirement plan, you can contribute to a Traditional IRA account which would be deductible

Also, if you are investing on your own, then seek qualified dividends and long-term capital gains, tax rate is 0% or 15% depending on your income.

]]> By: Kaz http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-115 Kaz Mon, 06 Jul 2009 16:34:22 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-115 Why do you want a larger tax refund? That is money you are giving the government without collecting interest the entire year. Why not take that money and save it yourself and collect interest throughout the year? Why do you want a larger tax refund? That is money you are giving the government without collecting interest the entire year. Why not take that money and save it yourself and collect interest throughout the year?

]]> By: Judy http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-114 Judy Mon, 06 Jul 2009 16:34:04 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-114 If you can contribute to a 401K, that would help. A traditional IRA is deductible too, but not a Roth and a Roth is very likely a better deal for you. If you can contribute to a 401K, that would help. A traditional IRA is deductible too, but not a Roth and a Roth is very likely a better deal for you.

]]> By: Bash Limpbutt's Oozing Cyst© http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-113 Bash Limpbutt's Oozing Cyst© Mon, 06 Jul 2009 16:32:46 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-113 Just tell your employer to withhold an extra $100 per week from your pay. BAM! An extra $5,200 refund next year. Not such a good idea, huh? The goal is not a big refund, but coming as close to $0 when you file. In your situation there are no tax saving strategies available to you. If you're OK with the chance of owing up to $100 when you file next year and wish to have as much in your paycheck as possible, claim 2 withholding allowances. If you absolutely, positively don't want to owe next year, then claim 1 withholding allowance. The down side to that is that your paychecks will be noticeably smaller. Just tell your employer to withhold an extra $100 per week from your pay. BAM! An extra $5,200 refund next year. Not such a good idea, huh? The goal is not a big refund, but coming as close to $0 when you file.

In your situation there are no tax saving strategies available to you. If you’re OK with the chance of owing up to $100 when you file next year and wish to have as much in your paycheck as possible, claim 2 withholding allowances. If you absolutely, positively don’t want to owe next year, then claim 1 withholding allowance. The down side to that is that your paychecks will be noticeably smaller.

]]> By: golfgirl3 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/comment-page-1/#comment-112 golfgirl3 Mon, 06 Jul 2009 16:31:11 +0000 http://www.setget.net/tips-to-increase-my-tax-refund-for-next-year/#comment-112 Work less, or send in charitable donations, some states allow you to include your sales, home, and car, but then you have to itemize. Work less, or send in charitable donations, some states allow you to include your sales, home, and car, but then you have to itemize.

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