How to Maximize Your Tax Refund

April 3, 2021

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Receiving your tax refund is always an exciting time of year. Most of us take our refunds and treat ourselves, which is always something to look forward to. What if you treated yourself differently this year? Paying down existing debt, investing, and many other options can help you in the long run. There are countless ways to spend your tax refund, but consider these suggestions to help maximize your tax refund.

Access Funds Faster with Direct Deposit

Instead of waiting on a mailed check, consider receiving your tax refund through direct deposit. By providing your account and routing number, you can expedite the process and receive funds much quicker.

Invest in Your Home

Have you been waiting for the opportunity to make some home renovations? Whether it’s simply painting a room or renovating a bathroom or kitchen, now is the perfect time to get these projects completed. Start designing and creating the project of your dreams today!

If you need a little extra help, the Credit Union offers a Home Equity Line-of-Credit. A HELOC provides a revolving line of credit by using the equity in your home. This is perfect for home renovations, especially if you’re unsure of the cost or how long the project could take. Learn more at https://www.tvacreditunion.com/heloc!

Invest in Your Future

For some of us, retirement seems a long way off, and for others, it’s right around the corner. It’s never too early or too late to start saving! An Individual Retirement Account (IRA) is a savings program offering tax breaks for investing money for retirement, and it’s a great way to invest in your future! Knoxville TVA Employees Credit Union offers various IRA options. Read more to see which IRA is best for you! https://www.tvacreditunion.com/ira

Save, Save, Save!

Though this seems simple, it’s not always easy. Whether it’s saving for a big vacation, a down payment on a house, or just saving for a rainy day, the Credit Union has the perfect savings account for you.

Turbo Tax Discounts for Members!

Tax Day will be here before you know it! You can save up to $15.00 this tax season by being a Credit Union Member and using TurboTax. Follow the link to take advantage of the discount! http://intuit.me/1ZaFgTN