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1 Apr 2011 By Bibey

Common Tax Credits You Can Claim

4 Feb

Information on using tax software to claim common tax credits.

As tax software continues to advance, the number of tax credits you can claim will grow. While these credits have always been available, those who file a paper return often times miss out on them. The great thing about using tax software from publishers like Intuit and H&R Block is that you don’t need to do anything on your own to take advantage. Instead, the software does the work for you – it helps you find the credits you can claim.

When choosing tax software you must decide on one that can help you maximize credits and deductions. This is clearly one of the best and easiest ways to lower your tax liability and owe the IRS less money.

Tax Credits to Claim with Tax Software

Lifetime Learning Credit
American Opportunity Credit
Earned Income Tax Credit
First-time Homebuyer Credit
Energy Tax Credit
Credit for Child and Dependent Care Expenses

With the right tax credits you can reduce your overall tax burden. Simply put, a tax credit is a dollar-for-dollar deduction of the tax due. They differ from tax deductions. No matter the size of the credit it will help you pay less in taxes.

Make sure you purchase tax software that can help you find every credit that you are eligible for.