The wallet-emptying experience of raising kids understandably fuels a lot of interest in the Child Tax Credit, but thanks to some big changes recently, the fascination could reach Tickle Me Elmo-like proportions. Here are a few things tax pros say you should know about this credit and how you can take maximum advantage of it … Continued
Like death, taxes remain uncertain. But they’re now on sale. Under the new tax laws, individual tax rates are broadly lower and the standard deduction — which directly reduces your taxable income — is nearly double what it was. A taxpayer who previously fell into the 15% tax bracket is now taxed at a 12% rate. … Continued
The world is full of tax advice this time of year, but not all of it is good. Here are five misguided, worthless or flat-out bad pieces of tax advice that tax pros say they wish never existed. Bad advice: Get an extension — you’ll have more time to pay your taxes! Why it’s bad: It’s … Continued