The deadline to file Federal Income Tax Returns is fast approaching. April 15th is historically one of the darker days throughout the year. However, these tax credits and breaks could help brighten your day:
1. Federal Tax Housing Credit – $8,000 credit for first time buyers
2. Federal Tax Housing Credit – $6,500 for purchasing a home.
3. EnergyStar Tax Creditst -save 30% on the cost of select EnergyStar home appliance
4. Property Taxes – Be sure to write off local Property Taxes on your Itemized Deduction
5. Capital Losses - Losses can offset Capital Gains (up to $3,000 filing jointly or $1,500 filed separately). Also, unused losses can be carried forward to future years until they are written off.
Hopefully, these credits and breaks will allow entrepreneurs to keep some of their hard earned income.
