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Boosting your tax refund

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We are just hours away from the tax deadline.  If you are still pondering over your taxes, here are a few ways to help boost your tax refund.

Find additional deductions

Here is a listing of tax deductions I see often overlooked.

Individuals

•    Childcare expenses paid for summer camp and afterschool tuition.

•    State taxes paid for the prior year

•    Health savings account contributions (April 15th deadline)

•    Nonbusiness bad debt expenses for money loaned or paid to others for services not fulfilled

Businesses 

•    Consider changing your business entity if you are paying a great deal in self-employment taxes

•    Take a good review of bank statements for missing deductions

•    Check out my tax organizer at kemcents.

Students 

•    529 Contributions to your state’s qualified plan

•    American Opportunity Credit, for undergraduate students

•    Lifetime Learning Credit for studies outside of undergraduate

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