5 Credits to Reduce Your 2012 Federal Income Tax Liability

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The deadline for filing your income tax return with the IRS is just over 4 weeks away. If you haven’t filed yet, there are a number credits that can lower your total tax bill or maximize your refund. Unlike a deduction, which reduces the amount of your income subject to tax, credits actually reduce taxes you owe on a dollar-for-dollar basis, which means that they are great tools to limit your tax bill or maximize your refund. If you’re interested in minimizing your tax liability, then here are five credits you should be aware of before filing your 2012 federal income tax return...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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