Tag Archives: Tax credit

Charitable Summer Giving Equals Tax Deductions

During the leisure-driven summer season, people should still want to increase their charitable giving. Not only is this a noble enterprise, but it also benefits the taxpayer during tax season. There are many avenues of giving that can earn a tax deduction for the average person.

For instance, children’s summer camps provide fun and safe day care to many needy kids. They rely on donations to help parents with summer time care while parents are working and the kids are not in school. Another good avenue is finding a community fan and air conditioning drive which helps families and the … Read the rest

Turbo Tax 2014 And Mortgage Tax Deductions

Turbo Tax 2014 and Mortgage Tax Deductions

Many homeowners feel that it is more beneficial to claim a mortgage tax deduction than to pay off their mortgage. However, they really need to consider whether it is more beneficial to build up their savings or to pay off the mortgage debt completely.

English: mortgages Green Bay, WI

English: mortgages Green Bay, WI (Photo credit: Wikipedia)

First, a homeowner needs to look carefully at all the items on the return. You need to know that a tax credit is not the same as a deduction. Deductions decrease the taxes you are obligated to pay; while tax credits … Read the rest

Tax Tips By Consumer Reports On Lowering Your Expenses

Tax Tips By Consumer Reports

Filing of federal income tax returns by businesses and employers can be somewhat difficult. Many people end up paying higher taxes than necessary because of a lack of proper knowledge on how to reduce their taxes during the preparation of the returns. Consumer reports have created a list of tips on how to reduce your personal tax burden. It is critical for businesses to report their tax numbers on a quarterly basis as many have found out after starting a small shop. This helps you to avoid fines when reporting your complete tax returns at … Read the rest

Super Saturday In Ohio: Day Of Help For Filing Taxes

Day Of Help For Filing Taxes

Super Saturday is a day of help in Ohio for residents in need of help filing taxes. Formerly known as the Franklin County EITC Coalition, the Tax Time Coalition of Central Ohio is ready with professionals in the tax business to help others in need of their services.

The 2013 tax-prep program is funded every year by the Franklin County commissioners. This year, $75,000 was released to support the event. Tax Time serves an estimated 400 families on Super Saturday, with many qualifying for the Earned Income Tax Credit.

English: The headquarters of Intuit Consumer T...

English: The headquarters

Read the rest

Tax Carnival Ecstasy – October 4, 2012

Mitt Romney at one of his presidential campaig...

Mitt Romney at one of his presidential campaign rallies. (Photo credit: Wikipedia)

Welcome to the October 4, 2012 edition of Tax Carnival Ecstasy. In this edition we have some very good articles including the first one by David de Souza on How Do Your Tax Credits Compare With The Rest Of The UK? Anisha at Nerdwallet.com takes a look at Tax-Advantaged Savings Vehicles. How will Mitt Romney handle The Debt Ceiling Deal? Bill Smith has a post for your consideration. And finally Edward Webber examines Which Countries Have The Highest Tax Rates. Hope you enjoy the articles, bookmark, share, tweet,

Read the rest

Don’t Waste Your Tax Refund: Make it Work for You

If you are one of the several million Americans who is anticipating a sizable tax return refund this year, then you know how very exciting the prospect can be. There are just so many things you can do with that lump sum of cash, right? However, the truth is that most people have great intentions for how they will make use of their tax refunds, only to put it into the checking account and watch it dwindle away on trivialities. The only way you can avoid this situation is to put some careful consideration into how to best reap the … Read the rest