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For the 2021 tax year, there are special rules due to coronavirus: You can use either your 2019 earnings or your 2021 income to compute your EITC, and you can utilize whichever number gets you the bigger EITC. Be sure to ask your tax preparer to run the numbers both ways.

For the 2021 tax year, this conceals to $14,440 in adoption costs per kid. For 2021, the credit begins to phase out at $216,660 of modified adjusted gross earnings, and people with AGIs higher than $256,660 don't certify. Also, you can't take the credit if you're adopting your partner's kid.

Federal: $24. 95 to $64. 95. Free version available for simple returns just. All filers get totally free live tax advice from a tax pro. Promotion: Nerd, Wallet users get 25% off federal and state filing expenses. Federal: $39 to $89. Free version readily available for easy returns only. Turbo, Tax Live packages offer review with a tax specialist.

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99 to $84. 99. Free variation available for easy returns only. Online Assist add-on gets you on-demand tax aid. 2. Tax credits for investing in education or for retirement, The saver's credit: This runs 10% to 50% of approximately $2,000 in contributions to an IRA, 401(k), 403(b) or specific other retirement strategies ($4,000 if filing collectively).

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American opportunity credit: This credit adds to $2,500 per student for tuition, activity costs, books, supplies and devices during the first four years of college. The trainee needs to be enrolled at least half time and can't have any felony drug convictions. You may not qualify if your AGI is higher than $90,000 as a single filer or $180,000 as a joint filer.

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Unlike the American opportunity credit, there's no work requirement. The $2,000 limitation is per return, not per trainee, so the most you can return is $2,000 regardless of the number of trainees you pay expenditures for. You might not qualify if your customized AGI is greater than $90,000 as a single filer or $180,000 as a joint filer for the 2021 tax year.

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Send your tax refund directly to an individual retirement account account3. This Site for big-ticket 'green' purchases, Residential energy tax credit: This one gets you up to 26% of the expense of solar power systems, consisting of solar hot water heater and solar panels. The credit diminishes to 22% in 2023 and ends in 2024.