As Kissimmee tax services advisors we always ask, who does not want to get the maximum possible tax refunds? Tax refunds are a great addition to your bank account, and you can use them for any purpose you like such as shopping, paying off your debts and so on. But this is only when you get the greatest amounts possible. If your refunds are not huge, you are probably just not going to have that much fun. So how do you ensure this? Simple, follow the guidelines below and your tax refund would be soaring.
Hire A Reputed Tax Services In Kissimmee
Without any doubts, this is a sure shot way of increasing your refunds. While you may not be aware how the IRS evaluates your taxes and taxable income, any reputed tax services in Kissimmee would have complete knowledge of this, and so you should utilize them to your advantage. So conduct a search and hire a tax firm that is known for its quality.
Deduct Contributions To A Nonprofit Organizations
Do you contribute to a nonprofit organization and help the world at large in some way or another? Perfect, now add this onto your tax return, and your taxable income would reduce. The IRS considers all these contributions as legally deductible and so your purpose would be fulfilled. There is just one slight issue with all of this. You would have to know which charities are included in this and the maximum threshold amount that you can add to your calculations. As already mentioned, hire a reputed tax services in Kissimmee, and they would be able to help you out with this.
Add Professional Expenses Onto Your Tax Return
If there are any expenses that are incurred because of your employees, you can add these to your deductible tax income. For example, you have subscribed to some research journals or publications related to your field, you can mention this on your claim. Doing so would decrease the amount you pay in taxes and increase your refund.
Check Your Tax Filing Status
Are you sure you checked off the right filings status on your tax form? Many people do not; in fact, IRS regards this among the top five reasons that can delay your refunds. And it is not only the processing time that is affected. Your filing status is also used for determining your tax refunds, so you should mark off the correct option.
There are four filing statuses: filing singly, filing as a divorcee or widow/er, married couple filing jointly, and married couple filing singly. Ask your tax services in Kissimmee, and they would be able to guide you more about your filing status.
Take Good Care Of Your Family
Nowadays a lot of costs arise because of your family members. If any of these expenses are related to dependent care, alimony, healthcare and the like, you can use them to increase your tax refunds.
If you need more information about our, Kissimmee accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.