02/27/2025
Tax Season Hacks: 5 Last-Minute Moves to Save Money Before April
By Tyler Huck
Arseneau Advisory Group
Tax season is officially here, and if you’re like most folks in our community, you’re probably feeling the crunch. The deadline—April 15—is just around the corner, but there’s still time to make smart moves that could put more money back in your pocket. Social media’s been buzzing with tax tips lately, and I’ve sifted through the noise to bring you five practical, last-minute strategies tailored to life right here in Cu***ng. As a local financial professional, I’ve seen how these small tweaks can add up—let’s dive in!
1. Max Out Your Retirement Contributions
Did you know you can still contribute to your 2024 IRA until the tax deadline? For 2025, the limit’s $7,000 (or $8,000 if you’re 50 or older). Not only does this boost your retirement savings, but if you’ve got a traditional IRA, it could lower your taxable income. Imagine shaving a few hundred bucks off your tax bill while securing your future—pretty sweet deal, right? Check your budget; even a partial contribution counts.
2. Hunt for Overlooked Deductions
You might be sitting on deductions you didn’t even realize. Paid property taxes on your Forsyth County home last year? That’s deductible. Donated to the local food pantry or church? Keep those receipts—charity write-offs can add up. Self-employed? Don’t forget home office expenses or mileage if you’re driving around town for work. Dig through your records; these hidden gems could mean a bigger refund.
3. Boost Your HSA (If You’ve Got One)
If you’re on a high-deductible health plan, your Health Savings Account is a goldmine. You can contribute up to $4,150 for individuals or $8,300 for families in 2025—and yes, you’ve got until April to fund 2024. It’s pre-tax money, so it cuts your taxable income while covering medical bills. With healthcare costs creeping up locally, this is a win-win.
4. File Early to Beat the Rush
Okay, this isn’t a deduction, but it’s a sanity-saver. The closer we get to April, the harder it is to snag an appointment with a local CPA—or avoid IRS delays if you’re expecting a refund. Filing now also protects you from scammers who might try to steal your return. Trust me, I’ve heard horror stories—get ahead of it.
5. Double-Check Your Credits
Credits are better than deductions—they’re dollar-for-dollar tax cuts. If you’ve got kids, the Child Tax Credit could be worth up to $2,000 per child. Low income? The Earned Income Tax Credit might apply. These aren’t just for the “big city” folks—plenty of Cu***ng families qualify. A quick review could mean hundreds more in your pocket.
Tax season doesn’t have to be a headache. These moves are simple, but timing’s everything—don’t wait until the last second. Not sure what applies to you or how to start? That’s where a qualified tax or financial professional comes in. You should seek out assistance from someone who can help you make the most of your tax situation. Here’s to keeping more of your hard-earned money right where it belongs!
