[header] How to save money on taxes [title] Use tax credits. [step] If you are a low to moderate-income taxpayer, then you may qualify for the earned income tax credit. If you are making less than $50 , 000 a year, then it is a good idea to investigate this instant credit.
[header] How to save money on taxes [title] Use tax credits. [step] If you are a low to moderate-income taxpayer, then you may qualify for the earned income tax credit. If you are making less than $50 , 000 a year, then it is a good idea to investigate this instant credit.
Qualify for this credit by exchanging your deductions at annualcreditreport.com. Check with your state's taxable income advisory service before initiating a tax credit-debit or credit card pick up method. [substeps] To access this credits, use the chargeback, which adds one year to your earned income. It goes one step further than the previous year's credit back. This credit can save you thousands of dollars and will come directly from the tax that you owe. [substeps] You can also apply for the little-known american opportunity tax credit, which counts if you are pursuing a college degree. [substeps] Use only dependent income credits and not whole-income credits. Teach your children about different tax credits, and they will learn about different tax credits.