Article by USA Weekend (March 21-31, 2014, J. Waggoner of USA Today)
Time To Organize Your Household's Financial Contributions and Deductions
- Get credit for the EITC. (Earned Income Tax Contribution, only if you made less than $51,567)
- No pension, Do you have a traditional IRA?
- Have you reached the higher income tax bracket which is 39.6% for earned income over $400,000 (single person) or $450,001 (married couple)?
- Did you search for a job in 2013? You may be able to deduct your job-hunting expenses (e.g., mileage is 56.5 cents a mile).
- Have children, Did you have any child care expenses? You may be able to receive a tax credit.
- Did you remodel your home in 2013? New windows? Furnace? Energy-saving home improvements? You may be able to receive a tax credit up to $500.
- Are you a teacher? You may be able to receive a tax credit up to $250 for educational materials.
- Did you include deductions of state sale taxes?
- Do you own an electric vehicle? You may be able to receive a tax credit up to $7,500.
- Tax Day is April 15. Do you need an extension if so, contact the Internal Revenue Service, today.