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Money Girl

Tips to Maximize Your Tax Refund in 2021

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.61.8K Ratings

🗓️ 31 March 2021

⏱️ 25 minutes

🧾️ Download transcript

Summary

Want simple tips to save money by reducing the amount of tax you owe or increasing your tax refund? Laura interviews Cece Leung, CPA, about ways to take full advantage of recent tax code changes. Read the transcript. Check out all the Quick and Dirty Tips shows. Subscribe to the newsletter for more personal finance tips. Join the conversation on Facebook and Twitter. Links: https://www.quickanddirtytips.com/money-finance/taxes/maximize-tax-refund-2021 https://www.quickanddirtytips.com/podcasts https://www.quickanddirtytips.com/subscribe https://www.facebook.com/MoneyGirlQDT https://twitter.com/LauraAdams

Transcript

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0:00.0

If you're like most people, the pandemic has upended your life in numerous ways.

0:10.3

It's caused sickness, isolation, anxiety, and financial hardship for millions of Americans.

0:16.5

The economic stimulus packages have been a bright spot for many who desperately need assistance.

0:22.1

Not only do the stimulus give qualifying individuals and businesses direct payments,

0:27.0

your giveable loans, and increased unemployment benefits, but the laws changed many aspects of your 2020 income taxes.

0:35.0

That's what we'll talk about today.

0:37.0

If you want to learn critical tips to cut the amount of taxes you owe or increase the tax refund you receive, stay with me.

0:45.0

Hello everyone and thanks for joining me.

0:47.0

My name is Laura Adams and I'm an award-winning finance author, educator, and spokesperson who's been writing and hosting Money Girl every week

0:56.0

since 2008.

0:58.0

For today's show, I have a really great interview for you.

1:01.0

I'm going to chat with C.C. Lung, CPA, for expert advice about taking advantage of the new tax rules.

1:09.0

C.C. is a certified public accountant and author of the upcoming podcast and book, Dear Accountant.

1:16.0

She's also the founder of Entrepreneur CFO, an advisory firm that helps growing companies get financially and operationally ready for their next big thing.

1:26.0

You'll hear us discuss many critical tax tips to cut what you owe or increase the refund you get.

1:32.0

Some of the topics we cover include when is the optimal time to file your 2020 tax return.

1:39.0

How the delay of tax day may affect when you receive a refund.

1:44.0

What to do if you did not receive an economic stimulus payment?

1:48.0

Which stimulus benefits are taxable and non-taxable?

1:52.0

What to do if you move to another state during the pandemic?

1:56.0

How to handle expenses related to a home office?

1:59.0

And common mistakes, individuals, and business owners should avoid this year.

...

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