CPA and Tax Expert Lisa Greene-Lewis Shares Tips to Boost Refund Before End of Year

CPA and Tax Expert Lisa Greene-Lewis shares tips on what to do now to boost your tax refund for 2018. At this time of year, most Americans are too busy with the holidays to even think about taxes – but making a few tax moves before December 31 can help you get the best tax outcome next year.

Here is a sampling of some of her tips:

Itemized vs Standard – know where you stand. With changes related to tax reform it’s best to know where you stand so you can maximize your deductions before the end of the year..
Contribute the maximum to retirement accounts. Maximizing your retirement is an easy way to reduce your taxable income and build your nest egg. It’s a win-win if your employer matches your contributions
Watch your flexible spending accounts. The catch is the notorious “use it or lose it” rule. You have to decide at the beginning of the year how much to contribute to the plan and, if you don’t use it all by the end of the year you may lose it. You can pay for those last minute medical purchases that your insurance won’t pay for
Charitable giving. Charitable contributions are a great way to maximize your deductions and give to your favorite charity
Defer bonuses. If your hard work paid off this year and you are expecting a year-end bonus, this extra money in your pocket may bump you up to another tax bracket and increase your tax liability. If you can hold off on seeing any extra income this year, see if your boss will pay you your bonus in January.

Lisa Lewis is a TurboTax CPA and tax expert. Lisa has over 15 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Previously, Lisa was a Technical Writer for the TurboTax Consumer Group and worked on a project to write new FAQs to help customers better understand tax laws. For Lisa, getting timely and accurate information out to customers to help them is paramount.

Lisa appears courtesy of Intuit.

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Tags: CPA, Intuit, tax refund, tax season, turbotax

About the Author

Dr. Jerry Doby Editor-in-Chief of The Hype Magazine, Media and SEO Consultant, Journalist, Ph.D. and retired combat vet. 2023 recipient of The President's Lifetime Achievement Award. Partner at THM Media Group. Member of the U.S. Department of Arts and Culture, the United States Press Agency and ForbesBLK.