Blog
  • Home
  • Blog
  • 4 Secrets to a Higher Tax Refund in 2018
Higher Tax Refund in 2018

4 Secrets to a Higher Tax Refund in 2018

January 29th marks the date when you can file your taxes, so it’s time to find the secrets to a higher tax refund. The tax bill recently passed and added many changes that you need to be aware of, along with a few ways to increase your refund in 2018, whether you do your taxes yourself or go with a tax service professional.

Adjust Your Withholdings

You filled out a W-4 when you first started your job, but have you revisited it since then? The tax brackets are changing in 2018, so this is a prime opportunity to reevaluate whether you need to switch things around.

Take the Correct Personal Deduction

You get a higher personal deduction in 2018. When you’re filling out your forms, don’t default to the deduction that applied to 2017 or you leave refund money on the table.

Reconsider Married Filing Jointly

Married filing jointly is the right choice in most circumstances, but you may want to reconsider it if you have a lot of itemized deductions that exceed the standard deduction amount. ATC tax service experts can compare both methods if you and your spouse have itemized deductions to determine the best course of action. If you fall under the 10% to 12% tax bracket and have young children, you may want to reconsider filing separately because you loose refundable credits such as Earned Income Tax Credit and/or Additional Child Tax Credits.

Max Out an IRA

Saving for retirement is more than a sound financial decision for your future. This move also makes it possible to increase your tax refund by lowering your taxable income. If you’re in a higher tax bracket and don’t typically receive a refund, the contribution will allow you to lower your tax liability. The best part is that you can contribute to this account beyond the end of the year, giving you more time to reach the cap.

Share this...

Similar Articles

Leave a reply

Affordable Care Act (ACA)

Affordable Care Act (ACA) and what it means for your taxes

Learn More

ATC BONU$ Loan

Advance Tax Loan, up to $5001 No Credit Check. High Approvals.

Learn More

Find an ATC office

Stay Updated

Subscribe to our free newsletter and receive the latest updates.

Your information will not be published.

Don’t be the last to know about our tax updated tips!

Subscribe to our newsletter now

https://t.co/cSpfBZUeMj

Make sure you have a trustworthy partner!

Hire a tax service with experienced professionals who understand the new laws and how they impact you.

Learn more here: https://t.co/kvhXXGiNdn

Need help?

Find someone from the ATC team and have him double-check your income taxes today.

Click here to find a location near you. https://t.co/0zrnbDdHhj

When choosing an IRS Direct refund, it would take the IRS 10-21 days from the time your tax return has been electronically filed and accepted.

You can choose to receive it through direct deposit to bank, check via standard e-mail or deposit to your Insight Visa card.

When choosing an IRS Direct refund, it would take the IRS 10-21 days from the time your tax return has been electronically filed and accepted.  You can choose to receive it through direct deposit to bank, check via standard e-mail or deposit to your Insight Visa card.

Know the ins and outs of the 529 plan tax benefits, which differ depending on your state.

Tag us in the comments what state you’re in and we’ll be glad to assist you on this matter.

https://t.co/1WoYcJHkkh

This message is only visible to admins:
Unable to display Facebook posts

Error: Error validating application. Application has been deleted.
Type: OAuthException
Code: 190
Click here to Troubleshoot.