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Congress has increased the child tax credit for this tax season. It seems that with the state of the current economy even congress is getting into the act of helping take the burden off of the family. One of the nice parts about the child tax credit is that it is a credit taken after your personal child exemptions. This makes it a dollar for dollar reduction in the amount of tax you may owe.
It happens every year, sometime in December, when you need to start thinking and organizing yourself for tax time.
You work hard for your money and every pay check you watch as the government funnels away some of it. Because I pay attention to just how much I lose every pay period, I was shocked to find out that there is over a billion dollars of unclaimed tax refunds sitting in a US Treasury account.
When it comes time to prepare annual income taxes, many people have to sort through piles of disorganized receipts and try to make sense of them. Regardless of whether you will be doing your taxes yourself or you hire someone else to do them, getting things in order ahead of time will make the entire process easier. Consider the following tax preparation tips.
When it comes time to prepare annual income taxes, many people have to sort through piles of disorganized receipts and try to make sense of them. Regardless of whether you will be doing your taxes yourself or you hire someone else to do them, getting things in order ahead of time will make the entire process easier. Consider the following tax preparation tips.
