ATLANTA - Don't leave money on the table this tax season.
Let's start with the Earned Income Tax Credit. According to the IRS, one in five eligible workers fail to claim the earned income tax credit.
What difference does it make? Look at this: $6,318. Does that number appeal to you? Well, by claiming the Earned Income Tax Credit, you could be putting as much as $6,318 back in your pocket.
I sat down with a lawyer and banker who has expertise in accounting. Amie Mize says she can't believe how this free money, if you will, is so often overlooked. This credit is a dollar for dollar reduction in your tax bill.
"In 2016 if a worker made $53,500 or less, they may be eligible for this tax credit and people are just not claiming it. They don't know about it or they're going to someone who doesn't know about it," said the Delta Community Credit Union's VP of finance and their chief accounting officers.
And don't forget to clam charitable donations this year. No, it's not just for Bill Gates. It's something we can all tap into. If you've donated cash or property to, say, your church, a non-profit group like a veteran's organization, a volunteer fire department, that counts. Maybe you've donated money to the county or city. It can be deductible. Even food you may have prepared right down to the ingredients you bought for that casserole.
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