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Check Your Income Level and Tax Breaks

Nov 15th 2011

By: kNOw TAXES

1 comment

Check into all the tax credits and deductions for which you might qualify this year. Because some of these tax breaks are reduced or eliminated entirely once your income reaches certain limits, you need to be aware of the income phase-out thresholds for those credits and deductions. While it doesn’t make sense to make less [...]

Tax Advice, Tax Alert

Income, tax break, Tax credit
The “Saver’s Credit” Could Cut Your Tax Bill

Jul 21st 2011

By: kNOw TAXES

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Would you like to shave $1,000 off your income tax bill? Would your spouse like to join in the tax savings of up to $2,000 on a joint return? This potential savings comes in the form of a tax credit called the “retirement savings contributions credit” or “saver’s credit.” Unlike a tax deduction, a tax [...]

Tax Advice, Tax Help

Individual Retirement Account, retirement plan, tax break, Tax credit

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