This tax season holds good news for millions of self-employed people who work from home: Home office deductions, which used to require a litany of calculations and the completion of a 43-line form, have at last been simplified.
Who doesn’t want to save a little (or a lot of) extra money at tax time? Claiming all the deductions for which you are eligible can significantly reduce your tax bill.
The House Republicans’ plan would create a new tax credit for families who earn less than $150,000 a year and send their kids to accredited Illinois schools, as well as a new tax deduction for using college savings programs.
Experts recommend using some type of guidance to navigate forms and maximize your returns.
Illinois Republicans have filed a measure they say will create tens of thousands of jobs. They think it’s something Democrats can get behind as well.