You still have time to maximize your refund with these six Moves year-end

You still have time to maximize your refund with these six Moves year-end -

Whatever the result of the date of opening of the IRS, you still have time to maximize reimbursements, and get a head start on your return to be first in line to get your refund

Here are six things you can do now to increase your tax savings :.

# 1 - Take advantage of tax free benefits your employer

If you have a flexible spending account (FSA) balance, whether your employer has implemented the new rule allowing deferral of a maximum of $ 500 in excess funds at March 15, 2015.

Otherwise, use the balance before December 31 so you do not lose the money tax free.

maximize tax benefits for retirement savings by contributing to $ 17,500 in a 401 (k) and $ 5,500 to your traditional and Roth IRA ($ 6.500 for 50 years).

Unlike most of the tax benefits, IRA contributions made by the April 15 deadline for 2014 count totals.

ven if you can not reach the limits of contributions, contribute enough to maximize the match from your employer.

Supplementary Retirement tax benefits are also available for low-income earners, self-employed and sole proprietors workers

# 2 -. Be charitable

The gift of money, clothes or a car before December 31 can reduce your taxable income if you itemize deductions.

Get a head start on your tax return by entering cash, non-recurring cash and gifts in the gift of TaxACT Assistant, available as a free mobile application. and TaxACT Deluxe

The mobile application, available in the Android ™ and Apple® stores, includes:

• verification of claims, the fair market value clothing, furniture, electronics, appliances and other household items for 2014
• automatic synchronization data to the secure servers of TaxACT
• App importing data into TaxACT Deluxe returns (available in early January)
• integration with TaxACT accounts to securely manage donations, tax returns and any device with the same username and password

# 3 - Evaluate your health insurance status

If you want to affordable care Act insurance market effective February 1, 2015, register or renew by Jan. 15.

Before applying, get the HealthWatch report TaxACT with all the tax information necessary for market applications.

HealthWatch, free federal and TaxACT Deluxe includes details for a more accurate estimate of 2015 income to help the beneficiaries of the tax credit on advanced premium avoid a big tax bill in 2016.

Have you been uninsured for more than three months in 2014?

Visit healthcare.gov to see if you qualify for an exemption.

exemptions for difficulties require approval via a paper application can take several weeks for your market to treat, so apply now to avoid a deferred tax refund.

If you do not qualify for an exemption, calculate your individual shared responsibility payment in 2014 TaxACT or with the tax penalty calculator TaxACT to HealthcareACT.com.

# 4 - Pay your property taxes or early mortgage payments

homeownership offers many tax benefits, but to maximize, you need to make some moves before December 31 to lower your tax bill.

If you have not reached the maximum amount of mortgage interest for home or real estate tax deduction, pre-pay your January mortgage payment or your 2015 state and local property taxes before December 31.

Unlike rent, which covers your stay for the coming months, the mortgage payments are made at the end of your stay

This means your mortgage payment January is actually accrued interest from December. making it eligible for tax relief on your 2014 taxes

By accelerating your mortgage payment in one day, you can earn an additional tax deduction that would otherwise have been missed. Tweet this

Bonus Tip this same strategy applies to student loan payments.

If you have not reached the limit of deduction of prepayment spring tuition or student loan payment in January before December 31 to reduce your tax bill

# 5 - .. Evaluate your gains and losses

capital gains may be offset by capital losses to reduce your taxable income

You can also deduct up to 3000 $ ($ 1,500 if married filing separately) excess loss for 2014.

the losses beyond this amount may be carried forward to 2015.

when deciding to keep or sell assets, consider your tax bracket (ie which tax bracket you are using this calculator), mixture of short and long-term assets, and investment objectives.

Keep in mind :.

• capital gains are generally taxed at lower rates than other income, but the short-term gains are taxed at a higher rate than long-term gains
• short-term gains are taxed at your highest tax bracket, so consider selling short-term losses to offset short-term gains. If all gains are short term, look at the sale of long-term losses.
• Wash sale rules prohibit a loss if you buy the same stocks or securities within 30 days of the sale.

# 6 - Forecast your 2014 taxes now

TaxACT is updated with tax law changes for 2014.

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Import and answer simple questions to get an overview of your federal and state taxes. The program will warn you if your deductions or credits are included in the tax extension legislation.

Returns can be completed and e-filed TaxACT from early January. TaxACT transmit an early return to the IRS when the agency opened its doors.

Get a good start and to estimate your 2014 tax using the tax calculator free TaxACT.

Do you generally make year-end movements to maximize your refund?

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