Monthly Archives: December 2016

The Saver’s Tax Credit

Saving your money isn’t easy, though when retirement rolls around, you’ll be happy you have some cash stored away. If you work and make contributions to a retirement plan or Individual Retirement Account (IRA), you may be eligible for a specific tax benefit called The Saver’s Tax Credit. Found on tax forms under the name […]

Choosing the Right Tax Filing Status

When you file your tax return, ensuring you used the right filing status can make a big difference to your wallet. Depending on which status you use, you’ll be eligible for different credits and deductions, and how much of them you are entitled to. There are five filing statuses, and each one affects your tax […]

Paying for educational expenses isn’t easy. At tax time, there are certain educational tax credits that can help offset some higher education costs by lowering the tax liability of households with eligible students. There are even some circumstances where one may be eligible for a tax refund. The two major education tax credits are: American […]

Finding quality care for your children while you work or look for work can be costly. Thankfully, the IRS offers the Child and Dependent Care Credit for taxpayers who incur expenses relating to child care in order for them to work. This federal credit also applies to families who pay for the care of an […]