Paying Taxes Can Tax The Better Of Us: Difference between revisions
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Revision as of 07:57, 16 October 2024
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Now, let's wait and watch if effortlessly whittle that down some a great deal more. How about using some relevant tax credits? Since two of your children are in college, let's think one costs you $15 thousand in tuition. You will find tax credit called the Lifetime Learning Tax Credit -- worth up to two thousand dollars in this case. Also, your other child may qualify for something the Hope Tax Credit of $1,500. Speak to your tax professional for the most current great tips on these two tax breaks. But assuming you qualify, that will reduce your bottom line tax liability by $3500. Since you owed 3,000 dollars, your tax is already zero euros.
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