Tax Credits, Saving Thousands Not Just For The Rich

People are, “What’s the most efficient use of my money?” 

The first step in being efficient with your money is reviewing your income taxes. Taxes can consume anywhere from 15% to 30% or more of your income. 

However, if you want to be as efficient with your money as possible, you need to get wise about taxes. You need to know the special rules that can save you thousands. 

The Retirement Savers Credit provides a tax credit for eligible contributions to a traditional retirement account or Roth. The Credit can be worth up to 50% of the contribution with a maximum credit of $2,000. 

The Premium Tax Credit, created as part of the Affordable Care Act, is one of the primary mechanisms used to make health insurance affordable for individuals and families. 

The Premium Tax Credit essentially subsidizes your monthly insurance premiums if you purchase your health insurance under the Affordable Care Act. 

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