It’s important for taxpayers to be aware of these tax credits in 2023 for maximum savings. What are tax credits and how it works Tax credits directly deduct money from the federal income taxes that you owe. This means each…
Say Hello To Saver’s Match The retirement savings landscape is always evolving, and it’s important to stay informed about any changes to incentives that may affect your retirement planning. One such change is the phase-out of the Saver’s Tax Credit,…
The school tax credit program is an important tool that can help schools adopt environmentally friendly practices and promote sustainability. By providing financial incentives for schools to invest in renewable energy and energy-efficient equipment, the federal government is helping to…
The child tax credit and the child and dependent care credit are both reverting back to previous levels, meaning that many parents could see smaller tax refunds this year according to IRS. The child tax credit is a tax break…
The American Rescue Plan, which was passed in 2021, included an expanded child tax credit for families. This allowed eligible parents or guardians to receive a tax credit of $3,600 for children 5 and under and $3,000 for children ages…
The Earned Income Tax Credit (EITC) is a crucial tax credit that assists millions of diligent individuals annually. Unfortunately, each year, many people miss out on the benefits of this credit due to a lack of awareness or not realizing…
Education is one of the most valuable investments a person can make in their lifetime, but it can also be one of the most expensive. Fortunately, the United States tax code provides two education tax credits that can help offset…
Homeowners in America have a chance to get money back from their home improvement projects through tax breaks. According to Energy Star, several federal tax credits can be claimed through the end of 2032 thanks to the Inflation Reduction Act,…
As a parent, you know that raising a child can be expensive. Between the cost of diapers, food, and clothing, it can be hard to make ends meet. However, there are several tax credits available that can help ease the…
As tax season approaches, it’s important to take advantage of all the deductions and credits available to you. While some credits, like the Earned Income Tax Credit, are well-known, others may not be as widely recognized but can still provide…