Have you made energy-saving upgrades in the past year? If you have, you may be eligible for a tax credit that can save you big time during tax season. Unlike tax deductions, tax credits reduce your tax liability directly, dollar for dollar. Tax deductions reduce your taxable income – what you pay taxes off of. […]
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The Earned Income Tax Credit (EITC) was created for low to moderate-income families. The more children you have, the greater the amount of the EITC is for you. You can claim this tax credit if you are childless, but you will not receive the same tax breaks, and the requirements for eligibility are stricter. You
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With the rising cost of higher education, student loans now encompass the lives of those who have degrees. To help offset this cost, the government offers different education tax deductions and credits for qualified students. This only applies to those who are enrolled in eligible degree programs or schools. The American Opportunity Tax Credit (AOTC)
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Do you suspect you owe money to the IRS? Are you unsure of the amount you owe and do not know how to access this information? This article will walk you through all the details of what you need to know when owing the IRS taxes, fees, interest, and/or penalties. We’ll take a close look
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