tax
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Blog
Tax Credits for Home Energy and Efficiency Upgrades
First, the Residential Clean Energy Credit, in place since 2022, provides incentives for clean-energy investments for your home. You can subtract up to 30 percent of the cost of a new clean-energy system—such as solar panels, solar-powered water heaters, geothermal heat pumps, fuel cells, wind turbines, or battery storage technology—from your end-of-year tax bill. You can include installation and labor…
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The Strangest Tax Deductions You Might Qualify For
With tax season in full swing, smart filers are looking to maximize every deduction available to them. We’re all familiar with common tax deductions like mortgage interest, charitable donations, and retirement contributions. However, there are plenty of unexpected deductions and other little-known uses for pre-tax money. Andy Phillips, Vice President of H&R Block’s Tax Institute, shares some more unexpected facts…
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Six of the Most Common Tax Myths in 2025
As the April 15 tax filing deadline approaches, it’s important to separate fact from fiction when it comes to preparing your returns. “Tax laws are often summarized for [the] sake of quickly explaining a potential benefit—or conflict,” says Andy Phillips, Vice President of H&R Block’s Tax Institute. “When details are omitted, it’s easy to misinterpret law or consider the advice…
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Start Using This Ultimate Tax Spreadsheet Now so You’re Ready for Next Year
Credit: Screenshot courtesy of Meredith Dietz. Time is ticking to file your taxes before April 15, 2025. If you’ve already do so, congrats! Now you can kick back and await that refund, right? Sure—but your relief will be short-lived. Once tax season rolls around next year, you’ll again find yourself frantically searching for receipts, statements, and other documentation needed to…
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US tariffs: how Trump’s tax is impacting big tech and beyond
President Donald Trump has announced that he’s imposing a tariff on goods from some of the US’s biggest trade partners: Canada, Mexico, and China. Under the executive orders signed on February 1st, Canada and Mexico will face a 25 percent tariff, while goods from China will be subject to a 10 percent tax. Energy resources from Canada will also have…
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Get Ready for the New Tax Year With H&R Block Tax Software
TL;DR: H&R Block Tax Software Deluxe + State 2024 for Windows/Mac helps you file your taxes and maximize deductions, and it’s just $39.99 on PC/Mac. There’s plenty to be excited about when building a business. Filing your taxes is more of a chore. If you want to make the process less stressful and max out your deductions, H&R Block Deluxe…
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Blog
Get Ready for the New Tax Year With H&R Block Tax Software
TL;DR: H&R Block Tax Software Deluxe + State 2024 for Windows/Mac helps you file your taxes and maximize deductions, and it’s just $39.99 on PC/Mac. There’s plenty to be excited about when building a business. Filing your taxes is more of a chore. If you want to make the process less stressful and max out your deductions, H&R Block Deluxe…
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How to Lease an EV or PHEV With a $7,500 Tax Credit
To get an estimate of whether a lease makes financial sense, we recommend calculating the total cost of a lease, comparing it to the cost of a purchase, then subtracting how much the car will likely be worth when you sell it. For example, Ford offers a $389 per month lease for 36 months with an initial payment of $5,539…
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How to Get the Used EV Tax Credit
There are several rules about which EVs, fuel-cell vehicles, and PHEVs qualify: • The car’s model year must be at least two years older than the current calendar year. That means in 2024, cars up to the 2022 model year are eligible. Only model year matters—not the year a car was first sold or registered. • The car cannot have a sale…
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Electric Vehicles & Plug-In Hybrids Qualifying for Federal Tax Credit
To qualify for a tax credit of up to $7,500, a new EV or eligible plug-in hybrid vehicle (PHEV) must meet certain rules: • A vehicle’s MSRP must not exceed certain limits, so pricey EVs like the GMC Hummer EV, Lucid Air, and Tesla Model S won’t qualify. For SUVs, pickup trucks, and vans, the threshold is $80,000. For sedans,…
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