Real Estate 411

 

 

 

Most Overlooked Tax Deductions and Ideas for Spending your Tax Refund!

Jamie Bodiford
817-269-4597
jamiebodiford@judgefite.com

CENTURY21JudgeFite.com

This month we are looking at the some of the most overlooked tax deductions that can save you money and get you the most on your tax refund. We also give you 10 suggestions on smart ways to spend that refund! All the details are here at Real Estate 411!

 


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Real Estate 411 - The Most Overlooked Tax Deductions

Every year, the IRS reports the most common blunders that taxpayers make on their returns. Every year, at or near the top of the “oops” list is forgetting to enter their Social Security number correctly on the tax form, or forgetting it entirely! No doubt about it: The opportunity to make mistakes is almost unlimited, and missed deductions can be the most costly. Tax time is a dangerous time and it can be easy to miss a trick and pay too much.  In the IRS and professional tax auditing circles, it is a known fact that millions of taxpayers overpay their taxes every year by overlooking just one of the money-savers listed below:

Here are 13 lucky breaks that could be yours.

Read the details on these 13 tips here.

1. State sales taxes
2. Reinvested dividends
3. Out-of-pocket charitable contributions
4. Student-loan interest paid by Mom and Dad
5. Job-hunting costs
6. Moving expenses to take your first job
7. Health insurance deduction to reduce self-employment tax 8. Child-care credit
9. State tax paid last spring
10. Refinancing points
11. American Opportunity Credit
12. Making Work Pay credit
13. Credit for energy-saving home improvements

Read the entire article with details on each tax saving deduction, plus get access to the online slide show provided by Kiplinger.com.

Be informed and ready this year when you file your taxes and do check with a tax professional on your status before you get started.  For more information on current tax credits and allowable deductions visit www.irs.gov

The average tax refund has risen to almost $3,000 - what will you do with yours?

Join us in the discussion on Facebook!

The IRS reports that the average tax refund has risen to around $3000, pumping $328 Billion dollars into American pocketsthat’s no small chunk of change. Not surprisingly, consumers are already planning how to spend that extra money!

Just for fun, we have come up with our top 10 list of ways to spend your tax refund - we believe these suggestions are financially responsible AND will put a little KICK back into your lives this year!

1. Use as a downpayment on a new home
2. Pay off your credit cards and restore your credit
3. Plan a Spring/Summer vacation
4. Open or boost a retirement savings account
5. Use the cash to start an emergency fund
6. Start a college savings plan for your kids
7. Improve your home's energy efficiency
8. Find a charity and give to others
9. Spruce up your outdoor living areas
10. Hardwire your living/media room

If you are expecting a sizable return this year, how do you plan to spend it?

Jamie Bodiford
CENTURY 21 Judge Fite Company

817-269-4597 or jamiebodiford@judgefite.com

Real Estate is GREAT! at CENTURY 21 Judge Fite Company


We are spreading the word that “Real Estate is GREAT! at CENTURY 21 Judge Fite Company”. There is real estate to be bought and sold in the Dallas/Fort Worth Metroplex and we are doing it! Real Estate 411 will give you INFORMATION you need to know and that will keep you informed on what is happening in our local real estate market.

Jamie Bodiford
Jamie Sells Real Estate with Flare
CENTURY 21 Judge Fite - Parker County Regional Office
Bus: (817)269-4597 | Fax: (817)596-9449
Office: 1105 Santa Fe Drive Suite 107 Weatherford TX 76086
C2012 CENTURY 21 Judge Fite Company. 21R is a registered trademark owned by Century 21 Real Estate LLC. Equal Housing Opportunity. Each office is independently owned and operated.
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