(Tax Year 2024 – Filed in 2025) Overview If you’re a W-2 employee, your taxes are automatically withheld by your employer. While you don’t have as many write-offs as...
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 When filing your tax return, you must choose between the standard deduction and itemized deductions to reduce your taxable income. Under IRC § 63, taxpayers can either:  Take...
Introduction The Child Tax Credit (CTC) is a valuable tax benefit for families with dependent children, helping to reduce tax liability and, in some cases, provide a refund. The...
Introduction Homeowners who invest in energy-efficient upgrades can qualify for valuable tax credits, helping them save money while reducing their carbon footprint. The IRS offers two main energy tax...
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...
Introduction As the year comes to a close, taxpayers have limited time to take advantage of tax-saving strategies that can significantly reduce their tax liability. Whether you are an...
Introduction Filing taxes incorrectly can lead to missed deductions, penalties, and overpaying the IRS. Whether you’re an individual taxpayer, freelancer, or small business owner, avoiding common tax mistakes can...