As tax season creeps closer, the clock is ticking for people to prepare for some significant changes to tax credits and deductions. According to Mark Steber from Jackson Hewitt Tax Services, families could potentially score up to $2,200 per child with the new child tax credit. Yes, you read that right—$2,200! This cash inflow could make holiday shopping a tad less painful (unless you squabble over the last action figure at the store, of course).
Seniors aren’t being forgotten in this wave of tax legislation either. Those aged 65 and older can now snag a new deduction worth $6,000 per person, or $12,000 for married couples. That could mean extra cash for a nice dinner or a cozy evening at home with a Netflix binge—a win-win, really. But don’t just rush into tax season headlong; Steber suggests preparing early to avoid missing out on these juicy deductions. The IRS isn’t going to gently remind you they owe you money!
No one wants to leave money on the table, right? Proper planning can ensure you’re maximizing your return and not making any costly mistakes. So, what do you think? Will these changes help ease your tax worries, or is it all just one big Tax Day headache waiting to happen? Let’s hear your thoughts!
