Tax Tips & Resources

At Duncan's Tax Solutions, we understand that navigating the tax landscape can be daunting. That's why we've compiled these helpful tips and resources to empower you with the knowledge you need.

Filing Basics Simplified

Understanding the basics of tax filing can save you time and money. Let's break down some key concepts:

  • Standard vs. Itemized Deductions: Choosing the right deduction method.
  • Filing Status: (Single, Head of Household (HOH), Married Filing Separately (MFS), Married Filing Jointly (MFJ), Qualifying Widow(er)).
  • Tax Brackets: How marginal tax works and impacts your income.
  • Credits & Deductions: Understanding available benefits to reduce your tax liability.

Credits and Deductions That Can Help

Don't miss out on these valuable credits and deductions:

  • Child Tax Credit & Additional Child Tax Credit: Support for families with children.
  • Earned Income Tax Credit (EITC): A credit for low- to moderate-income workers and families.
  • Education Credits: (American Opportunity, Lifetime Learning) - Tax benefits for educational expenses.
  • Retirement Savings Contributions Credit (Saver’s Credit): Incentives for saving for retirement.
  • Common Deductions: Medical expenses, student loan interest, charitable contributions.

Refunds & Payments Made Easy

Get quick access to track your refund or make payments easily:

  • IRS Where’s My Refund tool: Track the status of your tax refund.
  • IRS Direct Pay / EFTPS: Securely make tax payments online.
  • How withholding works & adjusting W-4: Ensure accurate tax withholding from your paycheck.

Life Changes & Your Taxes

Major life events can significantly impact your taxes. Be aware of how these changes affect your filing:

  • Marriage/divorce
  • Having kids
  • Buying a home
  • Retirement
  • Moving

Have Tax Questions?

We're here to help! Many people search for answers to common tax questions online. Here are a few examples:

  • “When will I get my tax refund?”
  • “How do I file taxes for free?”
  • “Can I claim my child on my taxes?”
  • “Why is my refund less this year?”
  • “What tax credits do I qualify for?”
  • “Do I need to file if I didn’t work?”
  • “What documents do I need to file my taxes?"

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