This Could Be the Single Most Effective Way to Lower Your 2019 Taxes
Now that tax season is well underway, millions of Americans are no doubt rushing around to gather paperwork and meet with their accountants to navigate the often complex process of filing a return. Of course, your goal in doing taxes should be to save as much money as possible by paying the IRS as little as possible. And while there are various tax deductions and credits available to filers, you may not be eligible for many of them.
For example, you can deduct the cost of your mortgage interest and property taxes (up to a certain point) on your tax return. But if you're not a homeowner, that doesn't help you. You can also claim a tax credit for each child in your household under age 17, as well as a credit to offset what you spend on child care. But if you don't have kids, that won't do you any good. And then there's the very valuable Earned Income Tax Credit, which can be a huge money-saver -- but that's only applicable if you're a low-income household.
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Source Fool.com
