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Money and Finances
Reply to "Income tax deductions & credits"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I know you mean well, but please refrain from giving tax advice here.[/quote] Lighten up. I'm pretty sure it's obvious I'm no accountant or tax lawyer, so anyone should check carefully about whether she qualifies before making any tax moves. I'm just offering up items that have helped save my family money on taxes. Maybe they're applicable to your situation, and maybe they're not. This is meant as a brainstorming thread, not your 1st year tax class from law school. If anyone wants to check the details on any of these, IRS has useful publications on each of them to spell out the details. It seems like you may know a little something, so instead of crapping on my brainstorming ideas, why don't you offer some suggestions of your own?[/quote] Nah, you shouldn't be trying to give advice since you seem pretty uninformed. For example, the child care care credit - the majority of DCUM posters are going to have incomes above the limit for this. I "qualify" based on my income and the max credit you can get is $400 even with thousands of dollars in expenses. You also have to itemize. It's not even worth it anymore for me to worry about taking the credit now.[/quote]
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