Tax Time is upon us, like it or not. Some good news, there is a lot of informational resources available today to help answer some of the many questions that seem to come up. An important one, "What can I deduct, and how can I earn the most money back?"
At moms refuge, there is a list of some tax cutting strategies that seem helpful, and some ideas to help plan for next year. Things such as investing in CD's and EE savings bonds can help, and max out retirement investments such as 401k since most 401k plans are made pre-tax, you can use this to reduce taxable income.
The Internal Revenue Service site also has some very useful information such as 800 numbers to check refund status, a number to request forms, and a number dedicated for specific federal tax questions.
This site also has suggestions for itemized deductions such as Child and Dependent Care Credit, Child Tax Credit, and for the sandwich generation, Elderly and Disabled Care Credit. There is also information on FREE tax services, and deductions for business owners.
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