While tax time can be stressful for many of us, it is also a great opportunity to get money back and boost your finances. With tax day approaching (it’s April 18th this year), it seems as though tax companies are advertising everywhere – on television, the radio and even in person to try and get your business! The one thing they make sure not to mention is the percentage that comes out of your refund when you use their services. To make the most of your tax refund this year, be sure to take advantage of free and low-cost services to file your taxes, and claim all of the credits for which you are eligible.
If you make $55,000 or less, you are eligible to go to your nearest Volunteer Income Tax Assistance (VITA) site where you can meet with a trained VITA volunteer who will prepare your taxes for free. Many U.S Internal Revenue Service (IRS) VITA sites have also incorporated asset planning so you and your family can learn money management and financial planning skills to spend your refund wisely.
If you donated to Goodwill this year, the IRS requires donors to value their items. To help guide you, Goodwill Industries International has compiled a list providing price ranges for items commonly sold in Goodwill stores. Click here to view the guide! Remember, prices are only estimated values.
Before you go to a VITA site, make sure you have your photo ID, all W-2 Forms, donation receipts and other documents to file correctly. To find a VITA location near you, click here.