Life Support - Tax Facts
Pennies Earned: Find Every Tax Deduction and Save Yourself Some Money
A Tax Fact from The Tax Institute at H&R Block
Are you getting all your deductions? On average, Americans pay the IRS $400 more than necessary every year because they've missed tax breaks and savings incentives! Often, it's simple things like using a standard deduction when you could itemize to get a bigger break. H&R Block's suite of online tips and tools can save you money, time, and costly mistakes and omissions like these:
Did You Know?
You may qualify for these tax breaks even without itemizing, including:
Make sure you haven't missed any credits or deductions that could save you money.
This Tax Fact is brought to you by The Tax Institute at H&R Block.
To view other helpful tax information or listen to our Tax Fact podcasts, visit www.digits.hrblock.com
As always...everyone's tax situation is different, so be sure to consult a tax professional or financial advisor before making important financial decisions.
This Tax Fact is for educational purposes only and is not intended to be a substitute for seeking personalized, professional advice, nor is it intended to be used to avoid IRS penalties.
A Tax Fact from The Tax Institute at H&R Block
Are you getting all your deductions? On average, Americans pay the IRS $400 more than necessary every year because they've missed tax breaks and savings incentives! Often, it's simple things like using a standard deduction when you could itemize to get a bigger break. H&R Block's suite of online tips and tools can save you money, time, and costly mistakes and omissions like these:
Did You Know?
You may qualify for these tax breaks even without itemizing, including:
- Education deductions and credits
- Student loan interest deduction
- Saver's credit
- Making use of employer plans such as 125/Cafeteria plans and 401(k)s
- Child tax credit
- Dependent care credit
- Earned income tax credit
- Student loan interest
- Tuition and fees for higher education
- Moving expenses
- Military reservists' deduction
- Deductions for the self-employed
- Point paid on home loans
- Charitable and medical mileage
- Sales tax election or state income taxes
- State income tax balance due from last year
- Out-of-pocket job expenses not reimbursed by your employer
- Personal property tax deduction
- When refinancing, interest and taxes paid as part of closing
This Tax Fact is brought to you by The Tax Institute at H&R Block.
To view other helpful tax information or listen to our Tax Fact podcasts, visit www.digits.hrblock.com
As always...everyone's tax situation is different, so be sure to consult a tax professional or financial advisor before making important financial decisions.
This Tax Fact is for educational purposes only and is not intended to be a substitute for seeking personalized, professional advice, nor is it intended to be used to avoid IRS penalties.
