Taxes, Refunds and Car Title Loans
It’s that time of year again, the dreaded tax season. Filing, looking for deductions and credits, and ultimately waiting for that refund, are all part of the process.
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.
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!
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!
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