Tax Credits & Deductions

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Tax Information Regarding the Child and Dependent Care Tax Credit

Tax Information regarding the Child and Dependent Care Tax Credit The Child and Dependent Care Tax Credit can reduce the taxes you pay. If you paid someone to care for a person in your household last year while you worked or looked for work, then read on for facts from the IRS about this [...]

By |2016-12-21T12:08:43-07:00May 18, 2015|Tax Credits & Deductions, Tax Tips|

Home Energy Tax Credits

Cut Taxes and Save on Energy Bills with Home Energy Credits You can reduce your taxes and save on your energy bills with certain home improvements.  Here are some key facts that you should know about home energy tax credits: Residential Energy Efficient Property Credit This tax credit is 30 percent of the cost [...]

By |2016-12-21T12:09:56-07:00March 28, 2015|Tax Credits & Deductions|

Earned Income Tax Credit Tips

Since 1975, the Earned Income Tax Credit has helped workers with low and moderate incomes get a tax break each year. Four out of five eligible workers claim EITC, but the IRS wants everyone who is eligible to claim this credit. Here are some things you should know about this valuable credit: • Review your [...]

By |2016-12-21T12:10:57-07:00February 16, 2015|Tax Credits & Deductions|

2015 Standard Mileage Rates

The Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per [...]

Make the Most of a Health Savings Account

If you have a health insurance policy with a high deductible, you may be eligible to contribute to a health savings account. An HSA provides a triple tax break: Contributions are tax-deductible (or pretax if made through your employer), the money grows tax-deferred, and you can use it tax-free for medical expenses. You can [...]

By |2016-12-21T12:11:41-07:00December 23, 2014|Tax Credits & Deductions, Tax Planning|

Higher Education Tax Credits

Are you, your spouse or a dependent heading off to college? If so, here’s a quick tip from the IRS: some of the costs you pay for higher education can save you money at tax time. Here are several important facts you should know about education tax credits: American Opportunity Tax Credit.  The AOTC [...]

By |2016-12-21T12:13:09-07:00September 8, 2014|Tax Credits & Deductions|
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