If you believe that tax breaks are for millionaires and companies with offshore subsidiaries, you’re probably paying too much to the IRS.
In recent years, lawmakers have enacted dozens of tax incentives targeted at middle-class families. Taking full advantage of these tax breaks is particularly important for dual-income couples because there’s a good chance they’ll get hit by the marriage penalty—when two individuals pay more in taxes as a married couple than they would pay if they were both single. And they work together: Lowering your adjusted gross income (AGI) with one strategy could make you eligible for other tax breaks.
The tax code offers a slew of incentives for starting a family, saving for retirement and educating yourself and your kids.
Read the complete article at: Kiplinger