When you file your taxes, you want to get back as much as possible. Every year there are new tax laws and the government seems to change the rules year after year. If you have low to moderate income there are a few things that you can do to get more money back. If you would rather have the money back at the tax time, then claim as many dependents as you have.
If you want more each check, you can claim more dependents. You need to be careful, if you do not have enough taken out you might owe. Another way to get money back and to optimize your return amount is to file for the earned income credit. This little deduction has an earned income credit worksheet that you can fill out and it will explain to you what you need to enter. Some people get back almost all that they have paid into taxes for the year plus what they paid into federal. It can really help those that are struggling.
Comments