Here are a few taxes credits and deductions you should consider when doing your taxes this year.
- Retirement account: IRAs converting into Roth IRAs- When you are filing your taxes this year you need to look at the tax break you can get if you converted your IRA into a Roth IRA. As you know may know an IRA is an account you set up to start saving for your retirement. When you put money into your retirement account you can cut the amount of taxes you might have to pay in our current tax bill
- Day Care: One tax credit you may qualify for is if you are a parent is child care. In order for you to be eligible for this credit you must be working and having your child cared for by another person whom you are paying. You can save up to $6000 on your tax bill
- The Energy Credit: 2011 was the last year people were allowed to get a source of energy system installed in there home and use is as a tax break. Going green not only saved you money on utilities but it also saved on on your taxes