April 18th, the deadline for tax season, is just one month away. Where are you now?
You’re in the minority if you’ve completed, got your return, and have already spent it. According to the IRS, little over 42 million Individuals received their refunds by the end of this week which is, March 3 despite having filed close to 55 million tax returns. That’s a lot, however, it falls short in the case of the over 168 million returns that had been anticipated by the IRS would be filed this year.
If you like many are still trying to come up with some end-moment savings this tax season, check out some of the methods we have listed below.
- Know everything about how to file your taxes.
- Know all that you can about student loans
- Untangle all the work complications you may have
- Research more on the best software that would help you to file taxes.
Which Donations May You Still Send On Your Return This Tax Season?
You have until April 18 to contribute the maximum amount to an IRA or savings on health account (HSA) and claim the discount on your last year’s tax season return if you haven’t already done so. Please be sure to specify that the deposit is for the 2022 tax year. Several states still permit donations to educational savings plans to be discounted as well. A dozen states also permit you to make contributions through April and deduct them from your state tax bill for 2022 if you’re saving money for your child’s education in a 529 plan. According to the research education, calculators, and resources website Saving for College, the following states are:
- Georgia
- Mississippi
- Iowa
- Oklahoma
- Wisconsin
- South Carolina
