Tax Refunds: One of the Biggest Paydays for the Average American Family

About 40% of American consumers live paycheck-to-paycheck making the average tax refund of $2,700 a substantial financial resource for the average American family. It’s also the reason so many taxpayers file their taxes before February 14. The American Tax & Financial Center infographic takes a look at the average consumer and how tax refunds help…

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Earned Income Tax Credit: What You Need to Know

The Earned Income Tax Credit (EITC) is a credit available to families that do not have a high income, helping them keep more of their hard-earned money.  In fact, it could mean up to $5,981 back in their pockets at tax time. In 2009, the IRS estimated that the EITC lifted nearly seven million people…

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5 Ways to Take Control of Your Finances

The average credit card debt as of January 2013, is approximately $8,700 per person, according to Mint.com data.  This may seem overwhelming, but money management does not have to be as hard as you think.  The start of a new year is the perfect time to get organized and start fresh with financial resolutions. Before…

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How to Protect Your Identity Online: 6 Helpful Tips

Identity theft is on the rise, increasing by 13% in 2011, according to Javelin Strategy and Research.  Identity thieves often access personal and sensitive information through: A stolen wallet or credit cards Documents or receipts in the trash Phone or email scams Hacking unsecured computers and wireless networks Once identity thieves gain access to personal…

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3 Tips to Protect Your Identity on Your Mobile Device

According to the Pew Research Center, as of September 2012, 45% of all American adults own a smartphone.  As mobile devices continue to play a bigger role in our daily lives, whether they’re being used to manage finances, keep up on social networks, or communicate, you want to make sure that your information and data…

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How Do I Know I Need to File?

At tax-time, “Do I need to file a tax return?”, is a common tax question we hear.  This question comes up because people think they don’t make enough money to file their taxes.  The IRS has income filing requirements necessary for you to file, however there are cases where your income may be less than…

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Tax Dependents – Who can you claim?

Raising families can be expensive. That is why Congress and the IRS have made tax deductions and credits available to families to help keep money in their pocket at tax time.  One of the biggest deductions available to families is the dependent deduction. A dependent is a person who relies on another, especially a family…

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The Ins and Outs of Earned Income Tax Credits

The Earned Income Tax Credit was passed in 1975 to encourage people to work and reduce poverty.  The credit which may be worth up to $5,891 on American’s tax returns has helped lift millions of people out of poverty. Our experts at the American Tax and Financial Center provide you with a graphical presentation on…

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Money in the Bank: Using Tax Refunds to Fuel Your Savings

With 40% of Americans unable to meet the majority of their monthly expenses, no wonder tax-time has become an opportunity to get a jump-start on savings.  Our savings release infographic looks at the average American’s financial fears and how they can use their tax refund to fuel their savings and improve their financial future.

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