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Tackle Your Taxes
Updates to tax laws and new tax breaks can make filing your tax return overwhelming. This year’s filing deadline is Monday, April 18, so lean on your friend SAM and start preparing now.
Beware of scams. Sharing your financial information during tax season can put you at risk; take necessary precautions.
Get familiar with tax laws. A down economy has led to tax breaks, some of which you may be eligible for:
• The Tax Credit Extension provides relief for most families paying Social Security taxes. Learn more >>
• The First-Time Homebuyer Credit has allowed many to purchase a home. Details on claiming >>
• Tax credits for your home, family, and education have been extended. Learn more >>
• Many breaks related to job loss stuck around this year. Learn more >>
Use your tax refund wisely. If you’re getting a refund, learn how adjust your withholding while putting your payback to work.
Featured SAM Community Question:
Q: Do I have to pay taxes on unemployment money? I have never had unemployment before, always worked, and I don’t know the particulars about it. — OldManYoungClothes
A: Yes, unemployment benefits are taxed, and you will get a form with the amount you received to use when you file your taxes. — LaurieTX
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What’s the craziest thing you’ve ever done with your tax refund?
Tell us here >>
How will most of you spend your tax credit extension dollars?
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SAM’s Family of Resources:
Plan for retirement at myretirementpaycheck.org.
Confess your bad spending habits at spendster.org.
Make sure your kids are learning financial basics in high school and college.
Got questions about filing?
Pose them to the SAM Community
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