Sure Way to Increase your Refund Check!

Posted on January 14, 2014

One way to ensure a better end to your tax return is to do things right from the very beginning. Most of us find ourselves a little confused with all the paperwork involved in a new job. One of the boxes you should be most aware of is the “Allowances and Exceptions” section. Most people decide to check as many allowances as they can in hopes to have the least amount of taxes taken out of their paycheck. This will result in less taxes paid per pay check true, but this will also result in a paying those allowances back at the time of submitting your tax return instead of a nice paycheck.

So how do you increase your chances for getting paid instead of paying? In the Allowances section put yourself down for “zero” (unless you legitimately need the allowances to provide for your family). BE WARNED, this will result in more taxes taken out of your paycheck, but as a result you can expect a good sum of that money back after you submit your tax return. In my experience I have received something close to the amount of a paycheck as a return. Putting yourself at zero requires discipline but if you like getting paid instead of paying then it is worth the extra dollars. Besides taxes build roads and educate children!