If you’re hoping to get a bigger tax refund this year, the window to make a difference is quickly closing. While most tax-saving strategies need to be implemented by December 31, there are still some smart money moves you can make before the April 15 filing deadline that could boost your refund or at least reduce what you owe.
2025 may be over, but it’s not too late to boost your refund (or lower your tax bill) before the April 15 tax filing deadline. Here are some strategies you can try now.
Did you know you can still make prior year contributions to a traditional IRA until the 2026 tax filing deadline?
Contributing to a retirement account reduces your taxable income and, in turn, can help increase your tax refund. So if you didn’t max out your IRA contributions last year, now may be the time to do so.
For tax year 2025, the maximum you can contribute to an IRA depends on your age:
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Under 50 years: Up to $7,000
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50 years or older: Up to $8,000 (including a $1,000 catch-up contribution)
Please note that these limits apply to the combined total of all of your IRAs (including traditional and Roth IRAs). Additionally, if your taxable wages are less than these limits, you can only contribute the amount you earned.
If you have a high-deductible health plan, contributing to a health savings account (HSA) can also reduce your taxable income. And just like with an IRA, you can contribute to an HSA in 2025 until April 15, 2026, further reducing your tax liability.
For tax year 2025, the HSA contribution limit is $4,300 for individuals under age 55 and $5,300 for individuals age 55 and older (including a $1,000 catch-up contribution). The maximum for families is $8,550, or $9,550 if you are 55 or older.
The biggest benefit of using an HSA is that it allows you to pay for qualified medical expenses using pre-tax dollars. However, even if you think you won’t need the extra money in your account, it may be worth increasing your contributions. After age 65, withdrawals for non-medical expenses are allowed without penalty (you would only pay ordinary income tax, similar to a traditional IRA), essentially serving as a long-term retirement savings tool.
Your tax return could look very different this year, depending on your financial situation. The One Big Beautiful Bill introduced a host of new tax deductions starting in 2025, including tip and overtime deductions, an increase in the maximum child tax credit, a higher limit for state and local tax deductions, and a larger deduction for qualifying seniors.
A quick refresher: Tax deductions reduce your taxable income and can increase your refund by reducing your overall tax liability, while a tax credit provides a dollar-for-dollar reduction of your total tax bill.
If you want to increase your refund, it’s important to make the most of all the deductions and tax credits you qualify for. Therefore, don’t assume that your tax situation for 2025 will be the same as in previous years.
Consult your tax preparer or tax preparation software to determine what credits and deductions you may qualify for this year.
Your tax filing status determines your tax brackets, standard deduction, and eligibility for key credits. Therefore, choosing the right state is key to maximizing your refund.
If you experienced a major life change in 2025, such as getting married, divorced, or having a child, you may need to update your filing status. Again, if you’re not sure which state fits your current situation, it’s a good idea to contact a tax professional for guidance.
Read more: 5 Smart Ways to Use Your Tax Refund