When preparing your taxes, decide whether to itemize your deductions or take the standard deduction by preparing your taxes using both methods and comparing. If you do itemize, make sure that you are aware of the personal deductions that you can take. Also learn more about the tax credits for which you may be eligible. Both of these may reduce the amount you pay in taxes and increase your ability to save this year.
April 1 marks the beginning of National Financial Literacy month. Take time this month to assess your financial situation. For more tax information, check out these tax planning articles, calculators, and frequently asked questions. Visit www.FeedthePig.org for more money-saving tips.
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