You’re likely always looking for ways to reduce the total amount of tax you owe—or to get more back at the end of tax season. The best way to accomplish that is to take advantage of tax deductions and tax credits. Do you know the difference between the two?
Tax deductions are expenses you incur throughout the year that are subtracted from your taxable income. These might include business-related purchases that were unreimbursed by your employer, charitable donations, and certain medical expenses. Tax credits, meanwhile, reduce your actual tax dollar for dollar. There are tax credits available for child and dependent care, adoption, educational expenses, and more.
To make the most of your tax deductions and tax credits, get in touch with Taxation Solutions, Inc. We can take a look at your finances and pinpoint the deductions you should be keeping track of as well as the credits you may be eligible to claim. In and around Atlanta, we’re a trusted tax resolution firm, with more than 40 years of experience among our knowledgeable team. We’ll help you make the most of every interaction with the IRS.
Ready to learn more? Call today!