Medical expenses are high in the US. They can be difficult to pay along with a major tax bill at the end of the financial year. The good news is that the IRS does make medical expenses partially deductible. So, … Continue reading Medical Expenses Tax Deduction 2019, 2020
Residential energy tax credits give you the chance to upgrade your home with renewable energy improvements and get help with the cost through a tax credit. As of now, the credits are good through 2019. They come in the form … Continue reading Residential Energy Tax Credits
Every year the IRS adjusts its different tax brackets in order to make sure that inflation doesn’t inadvertently push people into higher tax brackets. This is known as bracket creep and there are 40 different provisions that are taken into … Continue reading IRS Federal Tax Brackets
Are you eligible for a tax refund this year? The world of tax refunds is complicated. What’s the difference between a refundable tax credit and a tax deduction? Which credits am I eligible for? The lack of knowledge surrounding … Continue reading Free Tax Refund Calculator – See Your Estimated Refund!
The Earned Income Tax Credit (EITC) is one of the most valuable tax breaks available to low- and middle-income American taxpayers. It has the potential to lower a person’s tax bill beyond $0, so they could get a refund from … Continue reading How the EITC Supports Low- and Middle-Income Americans
The child tax credit is one of the most common types of tax credits around for American families. But the credit has changed because of the recent Tax Cuts and Jobs Act (TCJA). These changes apply for 2018 and future … Continue reading The Child Tax Credit 2019 is Worth Double
IRS Form 1040 is the basic tax form many Americans will use. It also recently received an overhaul, so the other forms in this category are going to be removed as part of the Tax Cuts and Jobs Act (TCJA). … Continue reading Where to Find IRS Form 1040 and Instructions for 2019, 2020