Taxes 101 What are Tax Rebates? Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Elle Martinez Published Jan 19, 2011 - [Updated Jul 10, 2019] 2 min read Will You Get a Tax Rebate? Tax rebates are issued when people pay more taxes than they owe. They may have overpaid based on the amount withheld from their paycheck or from conservatively estimated tax payments. Taxpayers have an option of receiving a paper check or direct deposit for their tax rebate. What’s the Average Tax Rebate? Last year, the average tax refund was nearly $3,000. That’s quite a bit of money that can be spent wisely if you plan ahead. Some people use their tax refunds to help them reach some financial goals that they have, such as: paying down/off a credit card starting/building an emergency fund saving up for a down payment on a house We used our tax refund to reduce our mortgage. In past years, we’ve been able to speed up the process of paying off our car loan, fund a vacation, and set aside money in savings. Some people prefer getting the money in one lump sum, while others make adjustments on their withholding from their paychecks. You have to weigh the pros and cons of each option based on your financial habits. Speaking of rebates, when you file your taxes, how quickly can you expect to get it? E-file normally gets your refund in your hands faster. Used TurboTax? Here are a few free ways to track your tax refund once you’ve filed. Increasing Your Tax Rebate Legally You don’t have to do anything shady to get a bigger refund. You can increase your tax rebate by making sure you take all your tax deductions and tax credits that you’re entitled to. Since tax credits and deductions change year to year in some cases, it’s best to get professional advice on the topics. Tax preparation software like TurboTax can make it incredibly easy to find what you need. Thoughts on Tax Rebates How about you? If you got a tax rebate last year, how did you use it? Do you prefer getting a tax rebate or do you adjust your withholding to compensate? Previous Post The Basics of Individual Retirement Accounts and Your Taxes Next Post What is a 1040ez Form & Who Can File It? Written by Elle Martinez Elle helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second. More from Elle Martinez Visit the website of Elle Martinez. Follow Elle Martinez on Facebook. Follow Elle Martinez on Twitter. One response to “What are Tax Rebates?” Tax rebating works! They built and bought the property for the venue where the Miami Heat play in Miami Florida on that concept. John Steven Grissom- (age 41). fort worth TEXAS USA. stevegtexas@aol.com Reply Leave a ReplyCancel reply Browse Related Articles Life Overpayment of Taxes: Everything You Need to Know Health Care President Obama Announces Health Care Rebates for 8.5 M… Tax Deductions and Credits What is a Recovery Rebate Tax Credit? Life Overpaid Tax: Why It Matters to You Tax Deductions and Credits I Claimed Exempt, Can I Still Get a Tax Refund? Taxes 101 Can I File Exempt & Still Get a Tax Refund? Self-Employed How Do I Amend My Previous Quarterly Estimated Tax Paym… Tax News What You Need to Know About the Proposed California Gas… Home Residential Clean Energy Credit 101: A Comprehensive Gu… Tax Planning Does My Stimulus Check Affect My Taxes?
Tax rebating works! They built and bought the property for the venue where the Miami Heat play in Miami Florida on that concept. John Steven Grissom- (age 41). fort worth TEXAS USA. stevegtexas@aol.com Reply