We’re all pinching pennies and looking for work during times like these, right? Those of us who are working hard to support our families sure are; single moms and dads, my hat’s off to you. We all want to save some money and a tax break sounds like a pretty nice deal to me. There are new tax breaks and deductions for us to take advantage of.
Here’s the thing: there’s been a lot of talk recently about whether we need so much taxation. First, there are a lot of important things our taxes do for our country. Second, the taxing has been great these last two years! There have been lots of tax breaks and credits.
Here are a few of these tax breaks:
- New Homeowner Tax Credit
- Non First Time Homeowners Credit
- Unemployment exclusion, first $2,400 of benefits tax free
- The American Opportunity Credit for college
- Hope and Lifetime Learning Credits
- Home Energy Credits
- Making Work Pay tax Credit: $400 per worker and $800 for couples
- Medical expenses
- Charitable donations including Haiti relief
- Qualified job hunting expenses
There’s more where that came from when you keep in mind all of the new tax breaks available to the American taxpayer. Combine this new help with the old help, and you should be just fine.
If you file with an online service like TurboTax Online, they’ll find every tax break that you’re eligible for and you can sit back and watch it happen as you enter in the required information. Sure, you can take time to do the research so you know what you’re looking for; but even if you don’t, they’ll do the research for you so you get more money back in your pocket.
