Bigger Refund

Shontia W — Wed, 11 Feb 2026 07:10:17 GMT

What should I do now to get a bigger refund next year?

Re: Bigger Refund

Vanessa A — Wed, 24 Apr 2024 19:02:36 GMT

You can increase your withholdings by submitting a new W4 to your employer have extra withheld every pay period.

If you are single with no dependents there is not a lot of credits or deductions available.

But some things you can do to lower your tax liability for next year would be:

Maximize your retirement savings. You can contribute up to $23,000 to a 401K or $7,000 to an IRA. This will defer your taxes on the income until you withdrawal the funds.
Contribute to a FSA through your employer.
Do a home energy project. Doing something like replacing windows, doors or insulation can reduce your tax liability by up to $1,200. If you invest in solar or wind energy home improvement, the credit is 30% of the cost of the project with no cap. It can reduce all of your tax liability for the year and can be carried forward until used all up.
Buy a new or used hybrid or electric vehicle. This credit can be worth up to $7,500 for new vehicles and $4,000 for used. For a single individual there is an income limit of $150,000 for a new EV and $75,000 for an used EV.