I file single with 0 dependents and I am trying to see what I can do to get the most of my refund- any websites with tips and tricks? I ussually file online by myself...
2006-12-27 09:52:27 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
To get a larger refund, simply have more withheld. Your real question is "How can I minimize my tax liability?"
2006-12-27 10:17:19 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
If you claim zero, they take out taxes at the highest rate, so you get more back in your refund than if you claimed more than zero.
To decrease your taxes, you could contribute to an IRA or 401K. If you have itemized deductions over $5150 you can itemize, but unless you buy a house or have very high medical expenses, you probably won't have that much to itemize.
2006-12-27 18:02:10 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Claim yourself. If you file with zero they take out more taxes and you actually get Less money back. Found that out the hard way.
2006-12-27 17:57:13 · answer #3 · answered by ANSWER MY QUESTION!! 6 · 0⤊ 1⤋