Introduction Contributing to a retirement account not only secures your future but also provides tax deductions that lower your Adjusted Gross Income (AGI). Under IRC § 219, contributions to...
Introduction The Additional Child Tax Credit (ACTC) helps eligible taxpayers receive a refundable credit if they do not qualify for the full $2,000 per child Child Tax Credit (CTC)....
Introduction The Saver’s Credit, also known as the Retirement Savings Contributions Credit, helps low-to- moderate-income taxpayers save for retirement by offering a tax credit for contributions to eligible retirement...
Introduction The home office deduction allows self-employed individuals to deduct a portion of their home expenses when they use a dedicated workspace for business. According to IRC § 280A,...
Introduction Getting a larger tax refund starts with smart tax planning. Many taxpayers miss out on deductions, credits, and tax-saving strategies that could increase their refund. This guide explains...