Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501

Middle Class Tax Breaks You Should Know About

Middle Class Tax Breaks You Should Know About

It is often talked about in the media and by politicians that there are too many tax breaks for wealthy individuals in America. But there are many tax tips for the middle class that may not be well known, and may not be being used because of this. It’s important for each middle class family to know of each tax break that is offered to them, in order to put more money back into your pocket as you file your taxes each year.

Middle Class Tax Breaks You Should Know About

Don’t miss out on these middle class tax breaks. License: Creative Commons image source

Savings Or Retirement

Although there is a limit on certain retirement plans and how much you can contribute each year, the money you put into a retirement or savings fund can often be used as a tax write off to help save you money. Any money that is put toward retirement can benefit you in more ways than one. The money will be available to you after you quit working, and can help to save you money on taxes during times of employment. Specifics for each married couple depend on the plan you choose and how you file your taxes.

Work More And Get Paid More

The more you work, the more you are eligible to get back on your taxes. For example, the government offers an Earned Income Tax Credit that is based on how much you work and how many children you have. Your state may even have its own version of this credit, which will save you even more money. But in order to receive the benefit offered by this tax break, you have to actively file for it when you file your taxes. The bonus of this is that you are likely to get a check back from the government come tax filing time.

Refunds For Children

The more children you have, the less money you pay on taxes. While it’s not a good idea to have a child specifically for the tax credit, you are eligible for a one thousand dollar tax credit each year for each child that you have. If you are divorced from the child’s other parent, you must legally work out who gets to claim the child each year and save the money. This deduction is a direct deduction that reduces your tax bill dollar for dollar. So rather than taking a percentage off your tax bill, it takes a direct thousand dollars off.

Don’t Miss Out On Your Money

Don’t Miss Out On Your MoneyThe money you pay to the government should be as limited as possible. Although it is a responsibility of each American to pay taxes, it’s important that you only pay what you are required to pay. Staying educated on what tax exemptions you are eligible for can save you money in the long run.

LBS Tax and Jon Stiles have teamed up to bring valuable Tax Preparation Information to the people of Chandler, Arizona.  With all the changes coming to taxes this year, you will want to go in prepared!

Tim Esterdahl

Tim Esterdahl is the editor of IFCS blog. He is a married father of three and enjoys golf in his spare time.
Tim Esterdahl

Find Us on Social Media

Unable to display Facebook posts.
Show error

Error: Error validating access token: Session has expired on Saturday, 09-Feb-19 10:16:27 PST. The current time is Sunday, 22-Sep-19 13:37:13 PDT.
Type: OAuthException
Code: 190
Subcode: 463
Please refer to our Error Message Reference.

IFCS On Twitter

Thank you to Rotary Club of Highlands Ranch for their continuous support of our Hunger Alleviation Programs. We are proud to partner with them. Thank you for being a Gold Sponsor of the October 26th Boo-athon Halloween Bowling event.

One week in and Holiday Program registrations are filling quickly. Interested families be sure to come in any Tuesday or Thursday by October 31.

Yesterday was a busy day here at IFCS. We thank our staff, interns and volunteers for working so hard to ensure everyone who came through the door was assisted with food - 35 families in 3 hours is a new record!

Load More...

Key Sponsors

Our Affliations




Sign Up for our eNewsletter

Email Newsletter icon, E-mail Newsletter icon, Email List icon, E-mail List icon Sign up for our Email Newsletter
For Email Marketing you can trust

USDA Non-Discrimination Policy

IFCS follows the USDA non-discrimination policy. Learn more by clicking here to read the statement. (PDF)