Here we go again; tax time has officially begun.

If you're getting a refund, you need to file ASAP. There's no reason to offer Uncle Sam an interest-free loan.

But before you file those taxes, it will pay -- literally -- to make sure you've gotten every deduction and credit you're entitled to. After all, if you're in the 24% tax bracket, every $100 you deduct is $24 in your pocket. And every $100 credit is worth $100.

That's what we're going to help you do in this week's "Money!" podcast. We're going to help you find ways to legally lower your income tax bill, as well as answer some common questions. For example, do you know if your stimulus payment has to be reported as income? If you didn't get the stimulus payment you were titled to, can you claim a credit? Is unemployment taxable? Is qualifying for next stimulus payment going to be based on your 2019, or 2020, income?

We're about to find the answers to these and lots more questions.

Want more information? Here's additional reading:
10 Ways Your Income Taxes Will Be Different in 2021
Turbot: The 10 Most Overlooked Tax Deductions
Investopedia: The Most Overlooked Tax Deductions
MoneyCrashers: List of 14 Commonly Overlooked Personal Tax Deductions & Credits for Individuals
Jackson Hewitt: Top 50 Most Overlooked Deductions
CNBC: This tax pitfall could affect millions due to Covid. Here's what you need to know
Dave Ramsey: Tax Season 2021: What You Need to Know
CNN: 2020 taxes: Everything you need to know about filing this year
New York Times: Your 8 Most Vexing Tax Questions, Answered
New York Times: Is My Stimulus Payment Taxable? And Other Tax Questions
Subscribe to the Money Talks News newsletter
Take our course:The Only Retirement Guide You'll Ever Need
Take our course: Money Made Simple

Hosts:
MoneyTalksNews
MirandaMarquit.com

Ask us a question

Here we go again; tax time has officially begun.
If you're getting a refund, you need to file ASAP. There's no reason to offer Uncle Sam an interest-free loan.
But before you file those taxes, it will pay -- literally -- to make sure you've gotten every deduction and credit you're entitled to. After all, if you're in the 24% tax bracket, every $100 you deduct is $24 in your pocket. And every $100 credit is worth $100.
That's what we're going to help you do in <a href="https://www.moneytalksnews.com/podcasts/">this week's "Money!" podcast.</a> We're going to help you find ways to legally lower your income tax bill, as well as answer some common questions. For example, do you know if your stimulus payment has to be reported as income? If you didn't get the stimulus payment you were titled to, can you claim a credit? Is unemployment taxable? Is qualifying for next stimulus payment going to be based on your 2019, or 2020, income?
We're about to find the answers to these and lots more questions.
Want more information? Here's additional reading:
<ul>
<li><a href="https://www.moneytalksnews.com/how-your-taxes-will-change-in-2021/">10 Ways Your Income Taxes Will Be Different in 2021</a></li>
<li>Turbot: <a href="https://turbotax.intuit.com/tax-tips/fun-facts/the-10-most-overlooked-tax-deductions/L2WjmvZAH">The 10 Most Overlooked Tax Deductions</a></li>
<li>Investopedia: <a href="https://www.investopedia.com/articles/tax/09/overlooked-tax-deductions.asp">The Most Overlooked Tax Deductions</a></li>
<li>MoneyCrashers: <a href="https://www.moneycrashers.com/list-common-overlooked-personal-tax-deductions-individuals/">List of 14 Commonly Overlooked Personal Tax Deductions &amp; Credits for Individuals</a></li>
<li>Jackson Hewitt: <a href="https://www.jacksonhewitt.com/tax-help/tax-tips-topics/filing-your-taxes/overlooked-deductions/">Top 50 Most Overlooked Deductions</a></li>
<li>CNBC: <a href="https://www.cnbc.com/2021/02/15/beware-this-tax-pitfall-if-you-had-unemployment-income-during-covid-.html">This tax pitfall could affect millions due to Covid. Here's what you need to know</a></li>
<li>Dave Ramsey: <a href="https://www.daveramsey.com/blog/tax-season-what-you-need-to-know">Tax Season 2021: What You Need to Know</a></li>
<li>CNN: <a href="https://www.cnn.com/2021/02/10/success/2020-taxes-information-feseries/index.html">2020 taxes: Everything you need to know about filing this year</a></li>
<li>New York Times: <a href="https://www.nytimes.com/2020/03/05/your-money/tax-return-questions.html">Your 8 Most Vexing Tax Questions, Answered</a></li>
<li>New York Times: <a href="https://www.nytimes.com/2021/02/11/your-money/stimulus-money-taxable-unemployment.html">Is My Stimulus Payment Taxable? And Other Tax Questions</a></li>
<li>Subscribe to the <a href="https://www.moneytalksnews.com/#newsletter">Money Talks News newsletter</a></li>
<li>Take our course: <a href="https://unb.moneytalksnews.com/retirement-guide/">The Only Retirement Guide You'll Ever Need</a></li>
<li>Take our course: <a href="https://www.moneytalksnews.com/courses/money-made-simple/">Money Made Simple</a></li>
</ul>
Hosts:
<ul>
<li><a href="https://www.moneytalksnews.com/">MoneyTalksNews</a></li>
<li><a href="https://mirandamarquit.com/">MirandaMarquit.com</a></li>
</ul>
<a href="https://www.moneytalksnews.com/contact/">Ask us a question</a>

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Money Talks News: The Podcast

Commonly Overlooked Tax Breaks and Other Tax Stuff to Know

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