Taxes, Refunds and Car Title Loans
Lowering your taxes and getting the most of your hard-earned money back from your tax return, consumes the minds of most people during tax season. But how do you lower your taxes, you may ask?
Here are 3 things most people don’t consider to lower their tax liability or to get a bigger refund check.
Contribute to an IRA
An IRA is a tax-deferred contribution for retirement. What most people don’t know is that the window of opportunity to make a contribution to this account closes April 15. If you open and contribute to an IRA before that tax due date, you can claim a deduction as a part of your tax return. In your tax return, you claim this contribution as an income adjustment.
Contribute to a Health Savings Account
Anyone can open and contribute to an HSA (Health Savings Account). This account allows for pre-tax contributions. As with a contribution to an IRA, the deadline for applying and qualifying for a tax deduction is April 15th. There are different amounts of contributions for this plan, depending on whether you are paying for yourself or as a family, and on your age.
Contribute to an Employer-based Retirement Plan
This includes plans such as a 401(k). You can make a contribution by April 15th, as long as the account was active in the previous year. If you are self-employed you can double your contribution by contributing as an employer and as an employee.
*Please check with your tax professional for details and options.
If you are in a bind, and cannot wait for your tax refund check because you need cash now, you should consider a car title loan with Coastal Title Loans & Finance.
- Our Car title loans are fast & easy - Approval and cash in minutes.
- Keep and drive your car
- No credit check
- No insurance required – We will provide insurance on your car.
- You can get as little as $2,500 on your car and no maximum.
- All you need is your car title and valid ID
If you don't need a car title loan for yourself, refer us to a friend and earn referral commission!
Please call Coastal Title Loans & Finance at 714-701-8555, visit our Westminster office or check us out online at www.coastaltitleloans.com.
We look forward to hearing from you!