Do you believe that you’ll receive a tax refund this year?
You might have heard that to stop tax fraud, refunds are going to be held longer. This applies especially to the Earned Income Tax Credit (EITC).
But with H&R Block, you can get the money you need right now.
What is a Refund Advance Loan?
A refund advance is something several tax platforms offer. You apply for a refund in advance, and the money is loaned to you.… Read the rest
Tax season is going to be here before you know it. Therefore, now is the time to ensure that you have completed all of the energy-efficient upgrades to your home.
Having an energy-efficient home will save money on your bills and pay less money in taxes. Learn how you claim home energy tax credits if you qualify.
Non-Business Energy Property Credit
You can get a 30% credit for your energy-efficient improvements. Things that fall under this category include:
- Water heaters
- Electric heat pumps
- Central air conditioners
- Natural gas, propane, or oil water heaters
- Qualified oil furnaces
- Qualified oil hot water boilers
- Some air-circulating fans
- Insulation that reduces heat loss or gains
- Exterior windows, skylights, or doors
- Storm windows and doors
- Solar panels
- Metal and asphalt roofs that reduce heat loss or gain
Residential Energy Efficient Property Credit
This energy tax credit will allow you to have a 30% credit for the alternative energy equipment that you have installed.… Read the rest
Student loan interest can quickly add up. That’s why the Federal government introduced the student loan interest tax deduction to help ordinary students out. If you made interest rate payments on your student loans during the tax year, you could deduct up to $2,500 in interest paid.
If you happen to qualify for the 22% tax rate, you have the best deal because your maximum deduction is $550. A few hundred dollars in your wallet for doing very little sounds great, so how can you make sure that you claim the maximum deduction amount available to you?… Read the rest
One of the most difficult financial burdens, when you have young children, is paying for dependent care, but some good news is that there are some relief options when it comes time to file your taxes.
What is the Child and Dependent Care Tax Credit?
The child and dependent care tax credit is available for almost anyone who has a dependent and is working.
The dependent care tax credit is different than the child tax credit, and this article is intended to help you understand how to claim the childcare tax credit.… Read the rest
Deciding to become a landlord can be highly beneficial for you financially. However, it also comes with a significant amount of work.
As well as the general responsibilities associated with running a rental property, you need to find tenants, pay all your expenses, and ensure you have insurance.
In personal tax terms, renting out a property can complicate the situation. There are rental property tax deductions available to help you out with running your business, though.
Different deductions are available from the IRS.… Read the rest