Looking for the maximum tax refund back this year? Nellie Akalp provides tips on FOX Business.
She says it’s worth it to pay an accountant to help you, as he’ll know the deductions that apply as well as the best filing status for your business. This can maximize your refund by $1,000 or more. She also says it’s important to know your expenses and which can be deducted on your taxes, like a home office or business office expenses. She stresses the importance of knowing your filing status, whether you’re filing as a business or an individual. Most people don’t think twice about what status to use, and sometimes overpay in taxes. Nellie also says to take advantage of your IRA contribution limit, which you can contribute for 2013 until April 15. She also says that many people overlook charitable contributions being tax deductible.