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Sam & Lissa's Blog!

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Sam and Lissa's Blog 4-8

So a week from today…taxes are due. First year I am not already done…and from the looks of Facebook. I’m not alone. My problem was a K-1 that I just got 10 days ago....and according to my CPA  I wasn’t the only one to get it so late.
So there my returns sit…on my CPA’s desk!!!
If you do your own taxes…this may or may not help. U-S News and World Report listing the 5 deductions and credits you are most likely to miss
  1. Dependents…Means a write off of $3800. Sometimes a “qualifying relative” fits into this category…or even a friend who’s been living in your spare bedroom for the past year. The main requirement is they had to make less than $3800.
  2. The Earned Income Tax Credit. You need to have 3 dependents and be low to middle income.
  3. Child and Dependent Care Credit. If you work and you have kids under 13 who go to day care, you might qualify for a deduction of up to $2100. You can also deduct the cost of summer camp.
  4. Charitable donations. You may also be able to deduct for volunteering at a charity if you have parking receipts. ..and also 14 cents per mile if you drive there.
  5. Job-Search Expenses. You get to write off money you spent on resumes, postages and travel expenses but  only if you’re applying for a job in your current field. First jobs aren’t tax deductible.

Tags :  
Topics : Human Interest
People : LissaSam

04/08/2013 9:47AM
Sam and Lissa's Blog 4-8
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