How to Get The Maximum Tax Refund in 2024-2025

Tax season can feel overwhelming. OK, beyond overwhelming. But it doesn’t have to be. Whether you’re filing for the first time or looking for better strategies on how to get it done, learning how to get your tax refund and how to get more back on taxes can make a huge difference in your financial picture. 

In this guide, we’ll cover practical ways to maximize your refund in 2024-2025, from smart deductions to planning ahead. Ready to uncover how to get the most back on taxes — and take a big step toward crushing those financial goals? Let’s dive in.

In the meantime, learn how you can become eligible to file your taxes in the MoneyLion app for free*.

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How to get a $10,000 tax refund: understanding your potential

Remember that state and local tax deductions (SALT) are capped at $10,000 total on your federal return ($5,000 if married filing separately). This includes your property taxes and either your state income tax or sales tax—whichever is higher.

While a $10,000 tax refund might sound like a dream, it’s achievable in certain situations. This typically happens when you’ve significantly overpaid taxes throughout the year or qualify for substantial tax credits. The key is understanding which credits and deductions you’re eligible for.

Ways to get the maximum of your tax refund

Understanding how to maximize your tax return requires a combination of preparation, awareness, and strategy. Here’s how you can ensure you’re squeezing the most out of tax season.

1. Make sure you use the right filing status

Your filing status determines your tax rate, standard deduction, and eligibility for credits. For example:

• Single: This status is straightforward but offers fewer benefits.

• Married Filing Jointly: Typically results in a larger standard deduction and lower tax rate.

• Head of Household: Great for single parents, offering higher deductions.

Choosing the right filing status is a key part of how to get the most out of your tax return. Example: If you’re a single parent supporting a child, filing as Head of Household instead of Single can potentially increase your refund significantly. 

Learn: Filing Taxes Head of Household vs Single

2. Maximize deductions 

Deductions lower your taxable income, so keeping track of eligible expenses is critical. Here are some tax deductions you should know about:

• Medical Expenses: Deduct costs like prescriptions and doctor visits that exceed 7.5% of your adjusted gross income.

• Mortgage Interest: Homeowners can deduct interest paid on mortgages.

• Student Loan Interest: Up to $2,500 annually can be deducted for student loan interest.

Additionally, if your deductions exceed the standard deduction, itemizing could help you get the most back on taxes.

Learn More: Top Tax Deductions to Claim

3. Take advantage of tax credits

Unlike deductions, tax credits directly reduce your tax bill. Popular credits include:

• Earned Income Tax Credit (EITC): Up to $7,830 for families with 3 or more qualifying children

• Child Tax Credit: Offers up to $2,000 per qualifying child.

• Child and Dependent Care Credit: Helps offset the cost of daycare or other dependent care.

If you’re eligible for these credits, they can significantly boost your refund and show you how to get the largest tax return possible.

4. Claim your business expenses

If you’re self-employed or have a side hustle, you can deduct business-related expenses such as:

• Office supplies

• Advertising costs

• Vehicle mileage for work purposes

For example, driving 500 miles for business at the IRS rate of 65.5 cents per mile equals a $327.50 deduction. This approach is potentially key to how to get more money on taxes if you’re an entrepreneur.

5. Contribute to your tax-advantaged accounts

Reducing taxable income is one of the smartest ways to boost your refund. Contribute to these accounts:

• Retirement Accounts (401(k), IRA): Contributions to retirement accounts are often tax-deductible.

• Health Savings Accounts (HSA): HSAs help you save for medical expenses while reducing taxable income.

• 529 College Savings Plans: Offers potential state tax deductions for education savings.

Example: Contributing $5,000 to a traditional IRA could lower your taxable income by the same amount, helping you maximize your tax return.

6. Timing income and deductions

Timing can be everything when it comes to taxes (just like in life). Here’s how:

• Deferring Income: Delay income to the next tax year if you expect to be in a lower tax bracket.

• Accelerating Deductions: Pay deductible expenses, like property taxes or medical bills, before the year ends.

Strategic timing ensures you’re getting the most out of your tax return while minimizing liability.

7. Consider consulting with a tax professional

If you’re unsure about certain strategies, consulting a tax professional can be a game-changer. They’ll help you navigate complex tax situations, calculate credits, and teach you how to get the most tax refund possible. Investing in expert advice often pays for itself through a higher refund.

Learn More: How Much Does it Cost to File Taxes?

Make the Most of Tax Season

Maximizing your refund isn’t just about filing — it’s about strategy. From leveraging credits to optimizing deductions and contributions, these tips can help you uncover how to get the largest tax return possible. Ready to make tax season work for you? Use MoneyLion’s tools to help simplify the process and achieve a maximum tax refund in 2025.

FAQs

What is the maximum tax refund you can get?

There’s no set limit to how large of a tax refund you can get. Your refund depends on your income, deductions, and credits.

How do I get a $10,000 tax refund?

Claim all eligible credits, such as the Earned Income Tax Credit, and maximize your deductions.

Is it better to claim 1 or 0 on your taxes? 

Claiming 0 withholds more taxes, potentially leading to a bigger refund at tax time.

Do you get a bigger refund if you make more money? 

Not always; higher income may reduce eligibility for certain credits. 

How do you get a bigger tax refund with no dependents?

Focus on retirement contributions, itemized deductions, and credits like the EITC (if eligible).

Will I get a tax refund if I made less than $10,000?

You may get a tax refund if you made less than $10,000, especially if you qualify for refundable credits like the EITC. As always, your exact refund depends on your situation, including which credits and deductions you qualify for.