A Lesson In Doing Your Taxes Well
Filing your taxes can be a daunting task and one that’s not always taught.
For our listeners who haven’t yet filed their tax returns (and they’re in good company), tax guru Jill Schlesinger joins Here & Now’s Jeremy Hobson with tips on filing this year — and what tax credits are available.
Tax Tips from Jill Schlesinger
- It’s the year of the Affordable Care Act and there are four new categories you should know about:
- Do you have qualifying health care? If you do, check that box! It’s that easy.
- Check to see if you qualify for a health care exemption.
- If you bought coverage this year, you may be entitled to a tax credit.
- No coverage? Expect to be charged $95 per uninsured adult.
- Tax credits to keep an eye out for (These depend on your annual earned income):
- Child tax credit: $1,000 for each qualifying kid
- Earned income tax credit: Up to $6,000 this year
- Child on dependent care: If you’re paying someone to care for your child (under age 13) to either look for a job or work, you can get money back
- Doing taxes can be complicated, but hiring someone can be expensive. If you aren’t confident filing on your own, try VITA.
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