Frequently Asked Questions?
EITC: Earned Income Tax Credit is a refundable income tax credit that is available to low-income workers with "earned" income-wages or self-employment income. If you qualify, you could reduce or eliminate your income taxes, even get money back that could be used for saving, home repairs or other things
Child and Dependent Care Credit: If you work and have child care expenses, you could be eligible for federal and state tax credits
Tips to Maximize your Tax Return
Taxlaws and people’s tax situations change from year to year, so you may be entitled to different deductions this year than last year. Major life changes often trigger a modification of deductions, or there may be deductions that you have missed in past years. Here are a few examples of common, but often overlooked, deduction: charitable donations, education expenses, medical expenses, real estate taxes,tax preparation fees, state and local sales tax, and job search expenses.
Theseare just a few of the legal tax deductions; there may be others you can claim. Be sure you have proper documentation to back up any deductions you claim, and remember, while it may seem like a windfall to get a large tax refund, your goal should really be to break even. If you’re getting a refund, you’ve basically been loaning the government money – without interest.