Many Americans don’t have to worry about giving Uncle Sam part of their hard-earned cash for their income taxes this year. An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax. To learn why, click here.
April brings showers, flowers…and taxes! You have a little over a month to go before the tax filing deadline, and if you’re in need of motivation, we have 10 money-saving tax deductions (and credits) to keep in mind.
Millions of taxpayers overpay their taxes every year by overlooking just one of the money-saving tax breaks listed here.
As refund checks arrive, many of us are making plans for the “extra” money. Some of us will be responsible, and others will blow the money and party like it’s 1999. What are you going to spend your refund on?
Click here to find out the 3 worst ways to spend your tax refund.
Getting a big tax refund feels good, but it means you essentially gave the government an interest-free loan. If we hate paying taxes, then why do we consistently overpay them, collectively lending Uncle Sam some $300 billion year after year—interest free?
Read more here:
Reducing your taxable income is one of the most effective ways to lower your taxes, with some moves doing double duty as both deductions themselves and as a means to slide under income thresholds at which other taxes would kick in.
While it’s late in the year now, there’s still time to take steps that will lower the amount of income you must report on your tax return.
Take a look here.
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