How to File Income Tax
These Tips Will Help to Maximize Your Refund
If you have a child in college you should check out the American Opportunity credit. It offers a maximum credit of $2,500 per student for the first four years of post-secondary education. This includes not only college but certificate programs as well.
Do you have a long commute to work or does your job require alot of travel. If your company does not reimburse for mileage you can now deducct 55 cents per mile for the first six months and 58.5 cents per mile for the second half of the year.
Did you make some energy efficient upgrades this past year? The residential energy credit is back. You can get a credit of 30% of your costs up to $1,500.
If you bought a new car last year you may be able to deduct andy sales or excise taxes you paid. This can increase your standardized deduction or be added to the total of an itemized deduction.
If you bought a new home you may be eligible for a credit of $3,000. To qualify you must not have owned a home in the previous three years.
Published by Jean Anne
I am a stay-at-home mother of four children who enjoys writing and photography. I love to spend time outdoors with my family whether we are camping, fishing, swimming or just going for a bike ride. My life... View profile
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