Tax Tips! Reduce Your Taxes!

  1. The Earned Income Tax Credit is refundable credit for people who work but don’t earn lot of money. It can boost your refund as much as $6,044. You may be eligible for the credit based on your income, filing status and number of children, but also single workers with no children can be eligible.
  2. The Child and Dependent Care Credit can help you offset the cost of daycare or day camp for children under age 13.
  3. The Child Tax Credit can reduce the taxes you pay as much as $1,000 for each qualified child you claim on your tax return. The child must be under 17 in 2013.
  4. The Saver’s Credit helps workers save retirement. You may qualify if your income is $59,000 or less in2013 and you contribute to an IRA or a retirement plan at work.
  5. The American Opportunity Tax Credit can help you offset college costs. The credit is available for four years of post-secondary education. It’s worth up to $2,500 per eligible student enrolling at least half time for at least one academic period.

Before you claim any tax credits contact Westmusa to be sure you qualify for the credit.

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