small business owner filing tax return

New Tax Credits and Deductions For Small Businesses

First, the good news: according to the Small Business Administration (SBA), the majority of small business in the United States shouldn’t see their income taxes increase this year. Now here’s even better news: the American Tax Payer Relief Act of 2012 has deductions that not only benefit individuals but businesses as well. For example, Section […]

cutting down taxes

Saving Money On Your Tax Bill

A big way in which you can save money on your taxes comes thanks to the fiscal cliff tax deal. The tax deal brought back dozens of expired credits and deductions, making them retroactive to 2012. Among them being able to deduct state sales taxes and the American Opportunity Tax Credit. Also, you have until […]

saving money in piggy bank

Save Money, Make Money

Did you know that you can get paid to save money? This isn’t some pyramid scheme or a scam. There are real, credible ways for you to make money while saving money. For example, the Internal Revenue Service (IRS) offers a Retirement Savings Contributions Credit (sometimes referred to as the Saver’s Credit). Also, there are […]

income tax return form

All About The EITC

The Earned Income Tax Credit (or the EITC), passed in 1975, is a refundable tax credit for low- and medium-income couples and individuals, designed to encourage people to work and also to reduce poverty. The tax credit was created, in part, to as an offset to Social Security taxes. As indicated in its name, the […]

man doublechecking tax return

Simple Ways to Avoid an Audit

When it comes to filing your taxes, unless you’ve hired a professional an audit is something that will always be in the back of your mind. Even if that little ticker shows that you have a low chance of being audited, until you’re in the clear and received your tax refund it is still a […]