We know taxes are such a burden. From the tax filing process to the actual tax amount, even a small gap may put you in conflict with the IRS. Hence, most people would simply pay their taxes due right away.
However, we are here to tell you that there are legal tax credits you can take advantage of to cut down your taxes. As one of the reputable tax accounting Firms in Texas, KF Tax & Accounting, P.C. has helped multiple taxpayers address their tax woes by finding all the credits available for them.
- Earned Income Tax Credit (EITC).
EITC provides tax relief to low and middle-income individuals and families. Your eligibility for this credit depends on your income and the number of dependents (spouse and children).
- Contributions to Charitable Causes.
If you have recently shown your monetary support to a charity organization, you can take up to $300 tax credit! You are allowed more charitable deductions if you itemize your deductions.
- Educational Tax Credit.
You may benefit from this credit if you or your dependent is enrolled in a higher educational institution. This credit covers tuition and other related fees.
- Individual Retirement Arrangements (IRAs).
This arrangement provides tax credits to help you save for your retirement. You may also set up this arrangement with your insurance company, bank, and other institutions.
Allow us to help you assess your eligibility for a potential tax credit! We have a team of experienced tax specialists providing expert tax services in Round Rock, Texas.