Are you expecting a refund this tax season? While many people shudder as April draws nearer, others wait with anticipation to reclaim a portion of their tax payouts. For people with modest incomes and not many deductions, tax refunds may be small or non-existent. However, tax refunds can be sizable for tax payers who have several dependents, multiple incomes, self-employment expenses or few allowances. Want to know how much to expect from your tax refund? Take our quiz below and find out.
Knowing the ins-and-outs of the tax code is a huge asset when doing your taxes, especially given the number of deductions available. Students, low-income
Just remember to save all paperwork, receipts, bank statements and any other important documents used while preparing your taxes. Keep a journal of expenses throughout the year that go toward self-employment or occupational income. Before doing your taxes, run your information through a few tax refund calculators to get ball-park figures for what you'll get back from Uncle Sam. Getting a few comparisons can be helpful when it's actually time to do your taxes. In the meantime, take our quiz and see whether you might expect a big refund.