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

EasyMoney Loan

Get Refund Advance 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Your information will not be published.

We always aim for maximum refund especially for you and your family.

Schedule an appointment with our ATC tax preparations experts for them to assist you and claim Child Tax Credit on your tax return.

Visit your nearest ATC location.
https://t.co/HHlrhabicE

#atcincometax

We always aim for maximum refund especially for you and your family.Schedule an appointment with our ATC tax preparations experts for them to assist you and claim Child Tax Credit on your tax return.Visit your nearest ATC location.
https://t.co/HHlrhabicE#atcincometax

Did you know that one can elect to take the flat standard deduction – which is based on your filing status – or elect to take itemized deductions?

Let our #ATC #tax preparation experts guide you toward the deduction that is most beneficial and suits your tax profile best.

Did you know that one can elect to take the flat standard deduction – which is based on your filing status – or elect to take itemized deductions?Let our #ATC #tax preparation experts guide you toward the deduction that is most beneficial and suits your tax profile best.

#ATC still aims to find more ways to add value for our clients by expanding our product offerings.

Whether its refund transfer, #tax advance, #taxloans, or just questions and clarifications with regard to #taxes.

Customers come first with ATC. 💯

#ATC still aims to find more ways to add value for our clients by expanding our product offerings.Whether its refund transfer, #tax advance, #taxloans, or just questions and clarifications with regard to #taxes.Customers come first with ATC. 💯

ATC Tax Tip:

File and pay on time.

If you can’t finish your return on time, make sure you file Form 4868 by April 15, 2020. Form 4868 gives you a six-month extension of the filing deadline until October 15, 2020.

#atcincometax #taxrefund #incometaxes #taxreturn #taxes

ATC Tax Tip:File and pay on time.If you can’t finish your return on time, make sure you file Form 4868 by April 15, 2020. Form 4868 gives you a six-month extension of the filing deadline until October 15, 2020.#atcincometax #taxrefund #incometaxes #taxreturn #taxes

Subscribe to our free ATC newsletter and receive the latest updates, news, and special announcements in the world of money and taxes.

Stay connected with ATC Income Tax! 📲

#atcincometax #taxrefund #incometaxes #taxreturn #taxes #money #taxbill

Subscribe to our free ATC newsletter and receive the latest updates, news, and special announcements in the world of money and taxes.Stay connected with ATC Income Tax! 📲#atcincometax #taxrefund #incometaxes #taxreturn #taxes #money #taxbill

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.