Welcome to the season of taxes, where some of your hard earn money that is hopefully is returned to you in order to buy more stuff you probably don’t need, or add to your investments accounts. No judgement here. Whatever your plans are or will be once you get your tax return, you should first know a few things you can claim and do in order to
maximize your full refund amount.
Why pay to file
Before you even think about paying someone for tax preparation services, see if you’re entitled to it for free. There are a few IRS-sponsored free tax preparation programs out there. I came across Volunteer Income Tax Assistance (VITA) last year, and it seems to be the most commonly used service in my area. These programs give eligible individuals free tax preparation assistance from trained volunteers if you fit the requirements below:
- Individuals with incomes of $53,000 or less.
- People with disabilities.
- Elderly individuals.
- Those with limited English-speaking ability.