Life events, such as buying a home, losing a job, getting married or welcoming a new child, can qualify you for certain tax breaks you might not have been eligible to claim in the past. For example, if you have a new baby, make sure you review eligibility for the Child Tax Credit and Child and Dependent Care Credit. The IRS provides several links to help taxpayers determine which credits (to reduce the amount of tax due) and deductions (to reduce taxable income) may apply in their situation: https://bit.ly/4p1Uz25. Or contact us for help identifying potential tax breaks and building a strategy that minimizes your tax burden.
