Tax Hack – How to Save Money on Taxes This Year!


If you haven’t still done your taxes like me, (or finished it) make sure to check out my post on how to digitize your tax records first.  Then, make sure you know about the following facts so you don’t get ripped off Uncle Sam this year:

Recovery rebate credit. This credit is last year’s stimulus payment with a slightly different name. Most taxpayers who filed taxes last year already got their full payment—up to $1,200 per couple, $600 per individual, and $300 per child—but a few may not have. For example, if you had a baby in 2008, you can apply on your 2008 return for the $300 child credit, provided the child has a Social Security number. Folks who didn’t earn enough in 2007 to qualify but earned more in 2008 might also be eligible.

via lifehacker

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