You may even receive a deduction on your state income tax return if you contribute to your own state’s savings plan. Pay off a 401k loan. increase the contributions you make to your employer’s 401(k) plan and use the tax refund to make ends meet while the additional contributions are reducing your pay.
You can estimate your Tax Return by using our 2018 tax calculator below. This Tax Calculator will estimate high level details of your Tax Return and any potential Tax Refund, or Additional Taxes Owed. This Calculator is for Tax Year 2018 Tax Returns that will be filed in 2019.
If you don’t have a retirement plan at work or you are already contributing the maximum, use your tax refund to contribute to a Roth or traditional IRA. As long as your income is below the limitations ($110,000 if single, $160,000 on a joint return) you can contribute to a Roth IRA.
Top Priorities for Your Tax Refund. 7. Invest In a Taxable Account If you’ve already contributed the maximum to your tax-sheltered accounts, consider opening a brokerage account with a discount broker (such as Scottrade, TradeKing, or Sharebuilder ). Lean toward conservative and diversified investments with low expenses,
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If you need to change the information on your tax return, you should file an amended return. If your election to apply the refund to next year’s estimated tax liability was a mistake (estimated tax payments aren’t needed or required), call the IRS toll-free at 1-800-829-1040 (TTY/TDD 1-800-829-4059) for help.
What will you do with your tax return? Discussion in ‘General Tacoma Discussion’ started by flyinglentris, Jan 31, 2018. Page 1 of 3 1 2 3 Next > flyinglentris Well-Known Member.
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If you find something wrong with your tax return and it means you owe more, the IRS says to file an amended return and pay as soon as you can to keep penalties to a minimum (generally, however, you must file it within three years from the date you filed the original return, or within two years after you paid your taxes, whichever is later).
How to Check the Status of Your Tax Refund. If you are due money back on your federal or state taxes, you’ll want to know when you can expect that refund check or direct deposit to arrive. If asking about a tax return filed with the United.