With just 3 days left in the year, now is the time to think about last minute ways to increase your tax return.
Whether it's donating to a charity or telling your boss to hold onto that bonus, there are some things you can do to get more money back next year.
The News4 I-Team's Consumer Investigator Lindsay Bramson shares tips to get you more money back.
We're all looking to get back as much money as we can, right?
There are only be a few days left in 2018 but that's still plenty of time to increase the amount you get back on that tax return.
We all ask those same questions...
"Did I put enough aside, what do I need to buy…what do I need to do,” said Nashville accountant Alex Jerkins.
And we're all looking for ways to save money.
“How do I need to prepare so that I don't owe the government everything that I have,” said Jerkins.
One way is to donate.
Nashville accountant Alex Jerkins says giving away clothes or furniture to places like Goodwill can increase the amount you get back on your tax return.
“Usually the donation value of giving away a full wardrobe is up in the thousand to $2,000 range,” said Jerkins.
And did you know taking a class to advance your career or boost your business can also help increase that tax refund?
Something else to consider…that bonus from your boss. Ask if you can get it in January instead of December.
That extra money in your pocket can bump you up to the next tax bracket and increase what you owe come April.
If you and your spouse both work and have kids, did you know you can save money there also?
“Maybe instead of using a nanny that doesn't want to report tax on it maybe you use a daycare of send them to a sports camp or science camp or whatever it may be so that you can actually get some benefit back,” said Jerkins.
It's called the dependent care credit and is just another way you can save money.
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