Week 16: How do I maximize my tax refund?

A better question might be, should you want a big tax refund and the answer is NO. No one wants to leave money on the table at tax time. Whether you’re a full-time employee, side gigger, or trades professional with 1099 income, here are 5 smart strategies to help you maximize your tax refund — or reduce what you owe.

Claim All Eligible Deductions and Credits - Read More HERE!

Deductions reduce your taxable income; credits reduce your tax bill directly. Some big ones to know:

• Earned Income Tax Credit (EITC) – For lower- to moderate-income earners. Worth up to $7,430 for families.

• American Opportunity Credit / Lifetime Learning Credit – If you or your kids are in school.

• Student Loan Interest Deduction – Up to $2,500.

• Saver’s Credit – For retirement contributions if your income is below certain thresholds.

• Self-Employed Deductions – Home office, tools, travel, health insurance.

Track Every Deductible Expense

Use apps like QuickBooks, Everlance, or even a dedicated spreadsheet to track:

• Tools & supplies

• Work-related mileage

• Uniforms or gear

• Continuing education

• Internet & phone (if partially used for work)

Organized expenses = bigger deductions = bigger refund.

Contribute to Tax-Advantaged Accounts Before the Deadline

You can contribute to IRAs and HSAs until the tax filing deadline (typically April 15) for the previous year.

• Traditional IRA – Deductible if income qualifies.

• HSA (Health Savings Account) – Triple tax advantage if you have a high-deductible health plan.

These contributions lower your taxable income and build your long-term savings.

Adjust Your Withholding If You Got a Small Refund (or Owed!)

Use the IRS withholding calculator to fine-tune your W-4. It’s a small move that can prevent surprises next tax season — or increase your take-home pay throughout the year.

Work with a Pro (or Use Good Software)

Even if you DIY, using a smart tax software (like TurboTax or FreeTaxUSA) ensures you catch every credit. But if your income comes from multiple sources, you're self-employed, or you bought property — a tax professional might help you get back more than they cost.

Keep good records, contribute to the right accounts, and claim every credit you’re entitled to.no one wants to leave money on the table at tax time. Whether you’re a full-time employee, side gigger, or trades professional with 1099 income, here are 5 smart strategies to help you maximize your tax refund — or reduce what you owe.

Want a personalized withdrawal game plan? Let’s talk.