April showers bring May flowers, but April also brings the dreaded annual tax filing. Follow these simple tips to get the most out of your tax returns this year!
- File as early as possible.
- Don’t take the standard deduction if you can itemize. Additional expenses like charitable contributions may make you eligible for this.
- Claim your friend or relative if you’ve been supporting them.
- Take above-the-line deductions if you are eligible. These deductions would include paying student loan interest, contributing to your IRA, etc.
- If you contributed to your retirement, you are eligible for a tax deduction.
For more information, go to http://www.investopedia.com/financial-edge/0312/how-to-get-the-most-money-back-on-your-tax-return.aspx.