Tip 23. Save money on taxes - Frugal Is Fabulous Tips And Ideas

Itemizing your deductions might get you bigger tax return.


Keep all the receipts from major purchases, medical bills, education expenses, etc. you make during the year. When doing taxes, don't automatically go with standard deduction. Take a time to check if your itemized deductions might be larger then your standard deduction. You could be getting a lot larger return.

Tax software is extremely helpful in this process and in doing taxes in general. Gone are days of filling tax forms with pencil and doing calculations using calculator.

I used both major tax software products - TurboTax and TaxCut - and I believe both of them are equally very good. It definitely never made any sense to me to go to a tax preparer and pay somebody who has no incentive to get you the biggest tax return possible.
 
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