Income tax refund: five tips for maximizing it

5. Look for extra credit

Melanie Stetson Freeman/The Christian Science Monitor/File
A student blows bubbles as she marches into her commencement ceremony at the University of Rochester in Rochester, N.Y., last year. If you're paying tuition, don't overlook the possible tax credits available.

With potential tax breaks related to dependents, education, earning income and more, there’s no reason to miss out on tax credits that may give you a bigger tax refund. Tax credits may be more valuable than tax deductions because they reduce your tax liability dollar for dollar. You may even qualify for the Earned Income Tax Credit, which continues to be one of the most overlooked tax credits. Did you pay for a college education for you, your spouse, or your dependent? You may be eligible for the American Opportunity Tax Credit (formally the Hope Credit), or the Lifetime Learning Credit, which both offset some of the costs of college tuition.

For more helpful tax tips go to the TurboTax Blog.

– Lisa Greene-Lewis is a certified public accountant and TurboTax tax expert. 

5 of 5

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

You've read  of  free articles. Subscribe to continue.