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There is an entire series of tax credits and tax deductions available to taxpayers, from which we can gain significantly financial benefits, but which we (or our paid tax preparers) oftentimes overlook. Some of these credits and deductions can literally be valued at thousands of dollars.
What we are actually looking at here is money which we can potentially lose each year, if we (or our paid tax preparers) do not claim all the critical tax credits and deductions that we are legally entitled to; and this is equivalent to giving away our hard earned money to the government.
The objective of this publication, then, is to make you aware of ALL the tax credits and tax deductions that you are entitled to, because overlooking some of these credits and deductions can be a very costly blunder.
Claiming all the tax deductions and credits that you are legally entitled to will allow you to save money, because deductions reduce your taxable income, and credits reduce your tax liability dollar-for-dollar.
What we are actually looking at here is money which we can potentially lose each year, if we (or our paid tax preparers) do not claim all the critical tax credits and deductions that we are legally entitled to; and this is equivalent to giving away our hard earned money to the government.
The objective of this publication, then, is to make you aware of ALL the tax credits and tax deductions that you are entitled to, because overlooking some of these credits and deductions can be a very costly blunder.
Claiming all the tax deductions and credits that you are legally entitled to will allow you to save money, because deductions reduce your taxable income, and credits reduce your tax liability dollar-for-dollar.
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Jan 6, 2015