Tax Deductions and Credits Tax Tips
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What Extra Tax Deductions Should I Make Sure To Take?
The federal government offers tax deductions and credits to reduce taxable income under certain circumstances. There are several that are often overlooked, including deductions for job hunting, caregiver expenses for dependents and children while you work, a credit to reduce taxes for moderate- to low-income earners and the premium tax credit associated with the Affordable Care Act. TurboTax can help determine if you qualify for these credits and deductions. Read more…
What Is the Difference Between a Refundable and a Nonrefundable Credit?
A tax credit can substantially reduce the amount of tax you owe, or even make your tax refund bigger. However, not all tax credits are alike. Tax credits can be refundable or nonrefundable, and sometimes partly refundable. Read more…
How Major Life Events Affect Your Taxes
If you're among the millions of Americans who will experience a significant life change this year (new house, new baby, getting married, etc.), here are some tips for how to handle it come tax time. Read more…
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