Credits to Reduce Your Taxes

Credits to Reduce Your Taxes

A tax credit reduces your tax bill by the exact amount of the credit and is therefore the number #1 way to reduce your tax burden. And for some will little income, credits can actually create a refund beyond what was paid to the government for the tax year.

Child Tax Credit

For each child an individual or a couple have, they receive a tax credit of $1,000 above the $3,500 child tax exemption. There are income limits on the $1,000 credit which are $75,000 for single tax payers and $110,000 for married couples. At these two levels the credit begins to phase out. There is also an Additional Child Tax Credit that you may be eligible for if you are not eligible for the Child Tax Credit.

Earned Income Credit

For taxpayers that do not earn above certain thresholds, the earned income credit provides a large credit which often is more than what the individual paid into the federal tax revenue fund. If a taxpayer has two children and earns less than $41, 646 a year or a taxpayer has one child and earns less than $36,995 a year or a taxpayer with no children earns less than $15,880 a year, they are eligible for the credit.

TaxAct – Free Federal Tax Filing

TaxAct – Free Federal Tax Filing

If you are looking for free federal tax filing for your 2008 taxes here in 2009, TaxAct has a great product for you that is completely free for all federal tax returns. After 10 years of providing there outstanding software to consumers across the country, you can depend on the features present within their product for ease of use and also rely on the accuracy of their returns. And not only is it free to prepare your return with TaxAct but it is also free to print your return and free to … Read more at 2009 Taxes

TaxAct – Free Federal Tax Filing

If you are looking for free federal tax filing for your 2008 taxes here in 2009, TaxAct has a great product for you that is completely free for all federal tax returns. After 10 years of providing there outstanding software to consumers across the country, you can depend on the features present within their product for ease of use and also rely on the accuracy of their returns. And not only is it free to prepare your return with TaxAct but it is also free to print your return and free to electronically file your return.

TaxAct Online 2008 Standard

The features that are available include the ability to handle simple and complex returns, a Deduction Examiner, and Walk-through videos. The Deduction Examiner will maximize your deductions and credits allowing you to get the biggest refund possible. Add any state for a small fee of only $13.95. You’ll get your refund within 8 days when you eFile your TaxAct return and returns are guaranteed to be 100% accurate. If you return is found to have a calculation error due to TaxAct, they will pay any penalty and interest for you.

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