Top 5 Tax Deductions That Most People Miss

There are several tax deductions available to us that we have no clue about. Hopefully, by learning some of the common missed tax deductions we are all able to save a little bit more.

Should You Itemize Taxes Or Not?

By knowing the basic limitations behind itemizing expenses, the decision to take the standard deduction or itemize your expenses is made much easier. Also, by maximizing the deduction you are allowed to take, you can reduce your tax liability and save money.

Earned Income Credit

The earned income credit is available to many taxpayers who have low to moderate income. This tax credit will effectively lower your taxable income and increase your potential for a tax refund.

What Is The Child Tax Credit?

A Child Tax Credit is available to most taxpayers for each ‘qualifying child’. This tax credit is an easy way to save some money on your tax return. Here’s what you need to know.

Tax Deductions vs. Tax Credits

Tax deductions and tax credits are 2 ways to lower the amount of income tax you owe and therefore save you money! Here’s what you need to know.