Deductions and New Tax Breaks for 2011
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.
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:
- The American Opportunity Credit for college
- Hope and Lifetime Learning Credits
- Home Energy Credits
- Medical expenses
- Charitable donations
- Qualified job hunting expenses
Tax Breaks for 2011 and Tax Credit Changes:
Energy Efficient Home Improvements
Payroll Tax Cut
Child Tax Credit Reduction
Earned Income Tax Credit Changes
Child Care Tax Credit Changes
Student Loan Interest
Plus Many More…
There’s more where that came from when you keep in mind all of the 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.
-
We are planning to rent our existing home and pull $ 200k equity from that home to buy a new... Read Full Story » -
The Greater Los Angeles Earned Income Tax Credit (EITC) Campaign Partnership and United Way of... Read Full Story » -
Dome Publishing Company, Inc. Products – Tax Deduction File, w/ Pockets, 11″x9-3/4″ – Sold as... Read Full Story » -
Does it get added on top of my home mortgage interest? I am preparing taxes with Tax Cut and... Read Full Story »
