Solutions to Make Better Decisions with Your Money

How to Maximize Tax Deductions and Credits

How to Maximize Tax Deductions and Credits - TaxACT Blog

Paying income taxes is the civic duty of all Americans, with the money helping to pay for national defense, highways, schools and police departments, among other things. While we’re happy to pay our fair share, no one wants to pay too much income tax. That’s where tax deductions and credits come into play. U.S. Congress […]

Keep More Money in Your Pocket with the 2014 Earned Income Tax Credit (EIC)

2014 Earned Income Tax Credit (EIC) Guide — TaxACT

The 2014 Earned Income Tax Credit, or EITC (also know as EIC), is a credit designed for lower income working individuals and families. It is intended as an additional reward for working, thus the words “earned income.” If you don’t have children, you must earn a relatively low income to qualify for the EITC. For […]

3 Tax Mistakes Parents Make That End Up Costing Them

3 Tax Mistakes Parents Make That End Up Costing Them

What are the most common tax mistakes parents make that cost them money at tax time? There’s more to being a parent at tax time than claiming another exemption on your return. Tax professionals see some mistakes time and time again that can cause parents to pay more tax than they should have to. Take […]

Tax Savings for Parents: Tax Credits and Deductions Parents Need to Know

Tax Savings for Parents: Tax Credits and Deductions Parents Need to Know

Do you have children? Though your little bundle of joy taps into your pocket book throughout the year, but during tax time, they can help you put money back into your pockets. According to the U.S. Department of Agriculture, it will cost a middle-income family approximately $226,920 to raise a child born in 2010 through […]

5 Common Mistakes to Avoid On Your Tax Return

5-Common-Mistakes-to-Avoid-On-Your-Tax-Return

Are you spending countless hours organizing and preparing your income tax return? According to the IRS, the average American spends approximately 12 hours preparing a Form 1040 income tax return. With so much time invested, the last thing you want to do is make a mistake on your tax return – especially one that delays […]