Category: Personal Income Tax

What Is the Difference Between a Tax Credit and a Tax Deduction?

by Keith-Weiss

When it comes to preparing your taxes, the idea of tax credits and tax deductions can be music to any taxpayer’s ears. That’s because both are used to lower the amount of taxes someone owes to the government. While they’re both worth getting excited over, it’s important to understand the fundamental difference between these two … Continue reading What Is the Difference Between a Tax Credit and a Tax Deduction?

5 Steps for Handling an Unexpected Tax Bill

by Keith-Weiss

Have you just completed your taxes and discovered that you owe way more than you expected? Don’t panic. There are several ways to bring that hefty tax bill down. Step 1: Check for Errors First, go through your return and make sure that you haven’t made a mistake. If you used tax software, note that … Continue reading 5 Steps for Handling an Unexpected Tax Bill