What tax credits are available this year?

SPRINGFIELD, Mass. (WWLP) – Doing your taxes can be a pain but for many it comes with the financial incentive of getting your money back. You may already know how you’re going to spend this year’s tax return so it’s important to know what tax credits you’re eligible for.

22News spoke with Liberty Tax expert Ray Maagero. When it comes to your return, you need to first consider your filing status. Are you single? Do you have children? Or have you added a dependent to your household? All can impact how much you get back this year.

However, Maagero said there may be other credits you should consider, “There’s education credits that are available to you. If you want to put more money into your retirement accounts, there’s deductions that are available for that. If you have a small business, the entity structure you set up for that could have a significant effect on your tax outcome.”

Maagero added it’s important to meet with a tax expert because they know the in’s and out’s of the tax code. Taxes are due Tuesday, April 18th.