Quick Pay and Skip-A-Pay

Make a loan payment or skip your upcoming loan payment without logging in to Online Banking!

Featured Products

You can turn to iTHINK Financial for the right solutions to all of your financial needs!

Visa® Platinum Credit Cards

Variable rates as low as {{RatePlaceholder}}with no annual, cash advance, or balance transfer fees.

creditcard-icon

Savings Accounts

Start saving for your future today! We offer many savings options to fit the way you live.

Mortgages

Mortgages

When you are ready to make a move, we'll make it easy with a variety of home loan options.

Auto Loan

Vehicle Loans

Get great rates as low as {{RatePlaceholder}} APR, fast approvals and personalized service.

Checking

Checking Accounts

We offer the perfect checking account to match your lifestyle.

Digital Banking

Digital Banking

Our 24/7 online services will simplify your banking. Check balances, deposit checks, transfer funds, pay bills and more, all from your desktop, tablet, or mobile phone.

How to Get the Biggest Tax Refund This Year

By: iTHINK Financial | Apr 03, 2018

5 Tips to Maximize Your Tax Refund 

It’s the most wonderful time of the year: Christmas in spring—or at least it feels like it with tax returns.

Whether you’re looking to splurge on a vacation or settle some old debt, the money returned to you after filing your taxes may be your answer. But at the end of the day, you want to maximize your returns and maybe extend your vacation for a day or pay off a little more debt than expected.

To get a little extra cash in your pocket this year, consider these five simple tips when filing your taxes:

 

Think About Your Filing Status

While 96 percent of married couples file taxes jointly, filing them separately might give you a higher return. The IRS uses a percentage of your adjusted gross income (AGI), or your taxable income, to determine whether some expenses can be deducted.

For example, if you lost your job this past year and racked up a few medical bills with COBRA, some of these expenses might be deducted with a lower AGI. On top of that, if you looked for a job during this time, expenses like resume preparation and networking can be deducted.

But you must weigh your options, whether it’s best for you to file jointly or separately. If you file separately, you might lose some of the joint filer credits.

 

Add in Tax Deductions

Deductions like moving expenses and charitable donations are often overlooked, but they offer substantial tax savings, which in turn can maximize your refund.

 

Travel Expenses

Keep records of your travel expenses. Traveling to volunteer work, doctor’s appointments or a job interview represent miscellaneous deductions. An up-to-date travel log with recorded miles, bus tickets or taxi receipts will help you reach the needed minimum percentage of AGI for miscellaneous deductions.

Moving Expenses

Did you move away 50 miles or more for a job last year? If you’ve worked full-time at the new job for over 39 weeks, you can deduct moving, storage or travel expenses. And luckily, you don’t have to itemize this deduction. Simply use  Form 3903 for your total expenses.

Community Support

Your generosity toward the community can be deducted, too. In order to claim charitable donations, such as cash or clothing items as itemized deductions, ask the 501(c)(3) nonprofit for written acknowledgement. In addition to charitable donations, your contributions can be deducted. For example, if you baked goodies for a nonprofit’s fundraiser, the ingredients you purchased to make them can be deducted.

 

Increase IRA Contributions

Contributing to your retirement savings account is a great way to plan for the future, but it’s also a great way to maximize your tax return.

The more money you put into your IRA or 401(k), the lower your AGI. And with a lower taxable income, the less you’ll owe in taxes, which equals a bigger refund. If you don’t have a retirement savings account, you have until April 15th to open one for the previous year.

 

 

Don’t File an Extension

Plain and simple: don’t do it. If you owe money on your taxes, filing an extension doesn’t mean more time to pay. Interest will build on what you owe, and you may even have to pay a penalty.

 

Consider TurboTax

TurboTax is on your side and wants to help you get the biggest refund possible. Plus, as an iTHINK Financial member, you can receive a discount of up to $15 on TurboTax federal products.

Don’t delay, file your taxes today to avoid any penalties and to maximize your refund.

 

Upcoming Events

Check out the upcoming events happening at iTHINK Financial.

sep 01

Member Appreciation Days

SEPTEMBER 1ST, 2022

sep 27

Live Homebuyer Webinar

SEPTEMBER 27TH, 2022 @ 6:00PM - 7:00PM

sep 28

Business Webinar: Basic Data Security

SEPTEMBER 28TH, 2022 @ 6:00PM - 7:00PM

oct 03

Shred Days

OCTOBER 3RD, 2022 @ 10:00AM - OCTOBER 31ST, 2022 @ 1:00PM

oct 10

Columbus Day Closure

OCTOBER 10TH, 2022

Not a Member? Join us today!

It's easy to join! Apply for your lifetime Membership with iTHINK Financial in about 10 minutes.