tax

Tax Changes You Need to Know for 2011

Get ready for these tax changes in 2011With tax season 2010 already in full swing, it's easy to overlook some important tax changes for 2011. Here's some of what you can look forward to...

Energy Tax Credit Explained

What qualifies for the energy tax creditSome parts of the country are still digging out from the recent nor'easter -- and winter is only a few weeks old. With heating costs soaring as the...

How to Calculate Tax Credits

How to calculate tax credits vs. deductionsTaxpayers often use the terms "deduction" and "credit" as though they're the same thing. They are not. They're actually very different terms, and...

Five Most Common Tax Deductions

Don't miss out on these five most common tax deductionsIt's rare that the decision to itemize or take the standard deduction hinges on some of the smaller deductions that you can claim on your federal...

Itemized Tax Deductions

Does it make sense for you to itemize your tax deductions?Each year, taxpayers have the option of claiming the standard deduction or the itemized deduction. For the tax year 2010, the standard deduction...

Five Common Tax Credits Explained

These five common tax credits can lead to a big refund this yearTax credits are popular ways to reduce your overall tax burden. Credits are dollar for dollar reductions in the amount of tax due, so it's a pretty...