Want to get all the money you can when it comes to your 2015 IRS Tax Refund? Contrary to what most people believe, it’s not hard to prepare your taxes correctly and get a bigger tax break than ever before. All you need are a few tips on how to file your taxes, like these 3 ways to increase your 2015 IRS Tax Refund and you’re on your way to the best tax season ever!
First, taxpayers should know that by pre-thinking thier tax return just a little bit can mean big savings when tax time rolls around in January. In fact, most people don’t think about taxes at all until they get a W-2 in the mail from their employer.
So, what are you waiting for- these 3 tips don’t take any time at all, and could result in a huge payoff in your 2015 IRS Tax Refund. Let’s get started!
Tax Saving Tip #1: Get Ready For Retirement
Did you know that if you contribute to the right type of retirement plan, you can boost your 2015 IRS Tax Refund? If your put money into a Traditional Individual Retirement Account (IRA) this year, you’ll save money immediately, by getting a deduction, which will increase your 2015 IRS Tax Refund. If you contribute to a Roth IRA, the tax savings will be realized when you draw on your retirement account, after you retire.
Either way, you’re saving for retirement and saving on your taxes!
Tax Saving Tip #3: Improve Your Home With Solar
Now’s the time, homeowners, to consider going solar. There’s a 30% tax credit for solar energy systems. That means if you spend $5000 on solar equipment, you’ll get a nice $1500 increase in your 2015 IRS Tax Refund. But don’t wait- it ends in 2016.
Solar isn’t the only home improvement you can apply this tax credit to…install geothermal heat pumps and you still get the 30% tax credit. Sames goes for small wind turbines.
Tax Saving Tip #4: Educate Yourself
You can increase your 2015 IRS Tax Refund by as much as $2000 just by taking some classes to update your career! Taxpayers with a moderate income should look into the Lifetime Learning Credit, which gives 20% of tuition expenses. Take a course that costs $250 and you get a tax credit of $50. Take a thousand dollar course and you’ll get a $200 increase to your 2015 IRS Tax Refund. Nice!
As you can see, all three money-saving tips for your federal tax return are also things that are good for you, even without the tax benefits. It’s a win-win situation, with a double win for you!