After losing a chunk of their money from every paycheck, many people look forward to tax return season when they can receive a significant sum back. But to maximize your tax return, it’s important to know how to receive the most money back. Cheryl Hawkins Tax and Accounting in Jordan, MN, is the area’s leading accountant offering a comprehensive range of services, from bookkeeping to tax preparation. She’s here to share some advice, so you can receive the best outcome next year. 

3 Tips for Getting the Best Tax Return

1. File Early

As soon as you receive your W-2 form from your employer, you should collect any additional documents you need, and file your taxes. The sooner you file your taxes, the sooner the funds will appear in your bank account, which allows you to start paying back debts and saving money on interest.

2. Get a Deduction for Each Individual You Support

If you’ve supported a friend or family member by paying them a sum of money each month, it’s possible to get up to a certain amount deducted from your taxes. There are certain restrictions in place you will need to research before making the deduction.

3. Itemize Your Deductions

You can use the standard deduction to lower your taxes; however, if you have all your receipts, itemizing your deductions can help you get a larger refund. Some of these expenses include charitable donations, job expenses, mortgage interest, and medical expenses that aren’t reimbursable.  

When you’re ready to get started on your tax return this season, turn to Cheryl Hawkins Tax and Accounting in Jordan, MN, to help you maximize your refund. The dedicated accountant helps individuals and business owners get their taxes filled out accurately and on time. Contact her today by calling (952) 222-8272, or visit her online for more information about the services she offers.