Spring is just around the horizon. Soon, the snow will melt from the landscape and flowers will pop up left and right. Tax season is also popping up, so it’s time to take out your paperwork and prepare for drudgery.
Here’s some good news, though. You don’t have to brace yourself for Uncle Sam snatching away your hard-earned money. Tax deductions can do you a world of good if you qualify for them, that is.
If you want to minimize the amount you owe the government, you’ve come to the right place. We collected eight tax deductions to help you save cash when you file. This is good to keep in mind when considering all the tax law changes in 2021.
When the third stimulus payment rolled out, some people never received the total amount. Good news: You could be eligible for the Recovery Rebate Credit. When you file your 2021 tax return, make sure to keep this in mind.
If you’ve set your home up to be energy efficient, you could get a tax break this season. This covers everything from roofs, doors and windows all the way to heating and AC systems. If you’re using energy most efficiently, claim a residential energy credit this year.
Caring for others pays off. You can claim up to $8,000 for one dependent and $16,000 if you’re caring for two or more people. You’ll just need to have a good overview of your finances.
Take note of how much you spend on daycare, afterschool care and even how much you spend on gas driving your kids to and from care programs. Don’t forget to write down the costs of babysitters and nannies, too.
You’ll need those numbers to fill out Form 2441, which you can attach to your Form 1040 tax return. Just make sure you’re writing down the care providers’ Taxpayer Identification Numbers, as well as their name and address. (If you don’t know this information, use Form W-10 to get it.)
Working from home became the go-to mode of labor for much of the job market during the COVID-19 pandemic. But now, as the pandemic shifts in new directions, many are wondering whether this remote work trend is here to stay.
There’s still time to get it before Christmas! I like classy clothes you can dress up or down. If you need a gift that feels like quality for your spouse or adult children, check out the bestsellers at Quince. They have washable cashmere, silks and more that all look great and last.
We may earn a commission from purchases, but our recommendations are always objective.
The couple is back with a new plan to protect kids from social media — but is it just an attention grab? Here’s the scoop.
🌲 This is tree-mendous: Nearsightedness in kids is exploding because of screens. Get this. In a study, children were placed in a classroom with tree imagery and a sky-like ceiling. After a year, they showed less vision decline than those in a regular room. Time to go outside, kids!
You think the internet is a scary place for kids? It’s about to get worse. Big Tech’s latest “solution” to protect children could be even more dangerous than the problem.
Kids love playing Roblox online with their friends — it’s crazy popular. But now, adults with bad intentions are targeting children through it.
Every year, about 37 young children tragically die from heat-related incidents in cars. Some parents are placing the blame on car manufacturers.
More than 70 million people play Roblox daily. Find out why some are fraudsters targeting children.
Why do parents give their children unfettered access to social media? Horrible things like this can happen. Here’s my take, in 60 seconds.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Did you know kids are stumbling across online porn at earlier ages? Here’s why you should talk to your young children, in 60 seconds.
Learn more about your ad choices. Visit megaphone.fm/adchoices
