Increase your tax refund with these deductions

The 2017 tax season kicked off on January 23, when the IRS began accepting electronically filed tax returns. Last year, about 73% of all filers received a tax refund, averaging $2,857, and likely to be about the same this year. The following 10 deductions will double your tax refund: Form 1040 – 2016 Tax Return Line 25 – Health Savings Account Deduction An HSA allows account owners to pay for current health care expenses and save for those in the future. HSAs have no limit on carry-overs or when the funds may be used.  For 2016, an individual may contribute up 

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Top 5 Tax Breaks That Will Save Taxpayers Money

Congress voted 76-16 last week to approve 54 tax breaks that benefit big corporations, small businesses, as well as struggling home owners. The Top 5 may actually apply to your family: Deduction for teachers’ expenses: This measure lets school teachers deduct up to $250 for the costs of classroom supplies that they buy with their own money. It’s available to all teachers, whether they itemize or not. Deduction for commuting costs: All commuters may reduce their pre-tax income to account for their commuting costs. Under the law, however, those who drive to work and pay for parking are allowed to 

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