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A Lesson In Doing Your Taxes Well

Jill Schlesinger has the expert advice for those of you who haven't filed your taxes. (AgriLife Today/Flickr Creative Commons)
Jill Schlesinger has the expert advice for those of you who haven't filed your taxes. (AgriLife Today/Flickr Creative Commons)

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

  1. 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.
  2. 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
  3. Doing taxes can be complicated, but hiring someone can be expensive. If you aren’t confident filing on your own, try VITA.

Guest

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