{"id":30664,"date":"2022-12-01T11:50:27","date_gmt":"2022-12-01T16:50:27","guid":{"rendered":"https:\/\/www.eztaxreturn.com\/blog\/?p=30664"},"modified":"2023-05-23T13:10:44","modified_gmt":"2023-05-23T18:10:44","slug":"reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time","status":"publish","type":"post","link":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/","title":{"rendered":"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Most people probably only think about tax credits and deductions when they&#8217;re completing their tax return. However, a little early planning can make for a smoother filing process. By familiarizing themselves now, taxpayers can have a clear understanding of which <a href=\"https:\/\/www.irs.gov\/credits-deductions-for-individuals\">credits and deductions<\/a> make sense for them and the records needed to show their eligibility.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are a few facts about credits and deductions that can help with year-round tax planning.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A few things to know about deductions<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Deductions can reduce the amount of a taxpayer&#8217;s income before they calculate the tax they owe.<\/li>\n\n\n\n<li>Most people take the&nbsp;<a href=\"https:\/\/www.irs.gov\/taxtopics\/tc551\">standard deduction<\/a>. The standard deduction is adjusted each year for inflation. The amount of the standard deduction depends on a taxpayer&#8217;s filing status, age, whether they&#8217;re blind, and whether the taxpayer is claimed as a dependent by someone else.<\/li>\n\n\n\n<li>Some people are required to <a href=\"https:\/\/www.irs.gov\/taxtopics\/tc501\">itemize their deductions<\/a>, and some people may choose to do so because it reduces their taxable income more than the standard deduction.<\/li>\n\n\n\n<li>As a general rule, if a taxpayer&#8217;s itemized deductions are larger than their standard deduction, they should itemize.<\/li>\n\n\n\n<li>Taxpayers can use the&nbsp;<a href=\"https:\/\/www.irs.gov\/help\/ita\">Interactive Tax Assistant<\/a>&nbsp;to see what expenses they may be able to itemize.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Things to know about tax credits<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Taxpayers can subtract&nbsp;<a href=\"https:\/\/www.irs.gov\/credits-deductions-for-individuals\">tax credits<\/a>&nbsp;from the total amount of tax they owe.<\/li>\n\n\n\n<li>Some tax credits, like the <a href=\"https:\/\/www.irs.gov\/credits-deductions\/individuals\/earned-income-tax-credit-eitc\">earned income tax credit<\/a>, are even refundable, which means a taxpayer could get a refund even if they don&#8217;t owe any taxes.<\/li>\n\n\n\n<li>To claim a credit, taxpayers should keep records that show their eligibility for it. Properly claiming tax credits can reduce taxes owed and boost refunds.<\/li>\n\n\n\n<li>Taxpayers can check now to see if they qualify to claim any credits next year on their tax return.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">More information:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.irs.gov\/taxtopics\/tc501\">Topic No. 501, Should I Itemize?<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><em>This article was published with permission from the IRS.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source:  IRS.gov<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most people probably only think about tax credits and deductions when they&#8217;re completing their tax return. However, a little early planning can make for a smoother filing process. By familiarizing themselves now, taxpayers can have a clear understanding of which credits and deductions make sense for them and the records needed to show their eligibility. [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":30666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[6],"tags":[],"class_list":["post-30664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irs-and-government"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v20.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time<\/title>\n<meta name=\"description\" content=\"Familiarizing yourself with popular tax credits and deductions can make the filing process go a lot smoother at tax time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time\" \/>\n<meta property=\"og:description\" content=\"Familiarizing yourself with popular tax credits and deductions can make the filing process go a lot smoother at tax time.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\" \/>\n<meta property=\"og:site_name\" content=\"ezTaxReturn.com Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ezTaxReturn\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-01T16:50:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-23T18:10:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/staging.eztaxreturn.com\/blog\/wp-content\/uploads\/2022\/12\/CreditsDeductionsNow.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"ezTaxReturn Expert Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ezTaxReturn\" \/>\n<meta name=\"twitter:site\" content=\"@ezTaxReturn\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ezTaxReturn Expert Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\"},\"author\":{\"name\":\"ezTaxReturn Expert Staff\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/person\/53293fc1f8f3940b232359e95b10360b\"},\"headline\":\"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time\",\"datePublished\":\"2022-12-01T16:50:27+00:00\",\"dateModified\":\"2023-05-23T18:10:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\"},\"wordCount\":334,\"publisher\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#organization\"},\"articleSection\":[\"IRS &amp; Government\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\",\"url\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\",\"name\":\"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time\",\"isPartOf\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#website\"},\"datePublished\":\"2022-12-01T16:50:27+00:00\",\"dateModified\":\"2023-05-23T18:10:44+00:00\",\"description\":\"Familiarizing yourself with popular tax credits and deductions can make the filing process go a lot smoother at tax time.\",\"breadcrumb\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/staging.eztaxreturn.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#website\",\"url\":\"https:\/\/staging.eztaxreturn.com\/blog\/\",\"name\":\"ezTaxReturn.com Blog\",\"description\":\"File your taxes online\",\"publisher\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#organization\"},\"alternateName\":\"ezTaxReturn Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/staging.eztaxreturn.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#organization\",\"name\":\"ezTaxReturn.com\",\"alternateName\":\"ezTaxReturn\",\"url\":\"https:\/\/staging.eztaxreturn.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/staging.eztaxreturn.com\/blog\/wp-content\/uploads\/2023\/02\/ezTaxReturnBloglogoSQ.jpg\",\"contentUrl\":\"https:\/\/staging.eztaxreturn.com\/blog\/wp-content\/uploads\/2023\/02\/ezTaxReturnBloglogoSQ.jpg\",\"width\":696,\"height\":696,\"caption\":\"ezTaxReturn.com\"},\"image\":{\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ezTaxReturn\/\",\"https:\/\/twitter.com\/ezTaxReturn\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/person\/53293fc1f8f3940b232359e95b10360b\",\"name\":\"ezTaxReturn Expert Staff\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/758e24e4e8a2dbdded8b37f0a112c6803d2565a6a732b9ec81920baf86a61d49?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/758e24e4e8a2dbdded8b37f0a112c6803d2565a6a732b9ec81920baf86a61d49?s=96&d=mm&r=g\",\"caption\":\"ezTaxReturn Expert Staff\"},\"url\":\"https:\/\/staging.eztaxreturn.com\/blog\/author\/brittany-harrison\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time","description":"Familiarizing yourself with popular tax credits and deductions can make the filing process go a lot smoother at tax time.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/","og_locale":"en_US","og_type":"article","og_title":"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time","og_description":"Familiarizing yourself with popular tax credits and deductions can make the filing process go a lot smoother at tax time.","og_url":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/","og_site_name":"ezTaxReturn.com Blog","article_publisher":"https:\/\/www.facebook.com\/ezTaxReturn\/","article_published_time":"2022-12-01T16:50:27+00:00","article_modified_time":"2023-05-23T18:10:44+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/staging.eztaxreturn.com\/blog\/wp-content\/uploads\/2022\/12\/CreditsDeductionsNow.jpg","type":"image\/jpeg"}],"author":"ezTaxReturn Expert Staff","twitter_card":"summary_large_image","twitter_creator":"@ezTaxReturn","twitter_site":"@ezTaxReturn","twitter_misc":{"Written by":"ezTaxReturn Expert Staff","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/#article","isPartOf":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/"},"author":{"name":"ezTaxReturn Expert Staff","@id":"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/person\/53293fc1f8f3940b232359e95b10360b"},"headline":"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time","datePublished":"2022-12-01T16:50:27+00:00","dateModified":"2023-05-23T18:10:44+00:00","mainEntityOfPage":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/"},"wordCount":334,"publisher":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/#organization"},"articleSection":["IRS &amp; Government"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/","url":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/","name":"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time","isPartOf":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/#website"},"datePublished":"2022-12-01T16:50:27+00:00","dateModified":"2023-05-23T18:10:44+00:00","description":"Familiarizing yourself with popular tax credits and deductions can make the filing process go a lot smoother at tax time.","breadcrumb":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/staging.eztaxreturn.com\/blog\/reviewing-tax-credits-and-deductions-now-helps-set-taxpayers-up-for-success-at-tax-time\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/staging.eztaxreturn.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Reviewing Tax Credits and Deductions Now Helps Set Taxpayers up for Success at Tax Time"}]},{"@type":"WebSite","@id":"https:\/\/staging.eztaxreturn.com\/blog\/#website","url":"https:\/\/staging.eztaxreturn.com\/blog\/","name":"ezTaxReturn.com Blog","description":"File your taxes online","publisher":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/#organization"},"alternateName":"ezTaxReturn Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/staging.eztaxreturn.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/staging.eztaxreturn.com\/blog\/#organization","name":"ezTaxReturn.com","alternateName":"ezTaxReturn","url":"https:\/\/staging.eztaxreturn.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/staging.eztaxreturn.com\/blog\/wp-content\/uploads\/2023\/02\/ezTaxReturnBloglogoSQ.jpg","contentUrl":"https:\/\/staging.eztaxreturn.com\/blog\/wp-content\/uploads\/2023\/02\/ezTaxReturnBloglogoSQ.jpg","width":696,"height":696,"caption":"ezTaxReturn.com"},"image":{"@id":"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ezTaxReturn\/","https:\/\/twitter.com\/ezTaxReturn"]},{"@type":"Person","@id":"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/person\/53293fc1f8f3940b232359e95b10360b","name":"ezTaxReturn Expert Staff","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/staging.eztaxreturn.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/758e24e4e8a2dbdded8b37f0a112c6803d2565a6a732b9ec81920baf86a61d49?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/758e24e4e8a2dbdded8b37f0a112c6803d2565a6a732b9ec81920baf86a61d49?s=96&d=mm&r=g","caption":"ezTaxReturn Expert Staff"},"url":"https:\/\/staging.eztaxreturn.com\/blog\/author\/brittany-harrison\/"}]}},"_links":{"self":[{"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/posts\/30664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/comments?post=30664"}],"version-history":[{"count":0,"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/posts\/30664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/media\/30666"}],"wp:attachment":[{"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/media?parent=30664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/categories?post=30664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.eztaxreturn.com\/blog\/wp-json\/wp\/v2\/tags?post=30664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}