EFPR Group tax professionals identify any credit or deduction that can be an advantage to your return.

Credits for Individuals

As found on the IRS website: https://www.irs.gov/credits-deductions-for-individuals

Family and Dependent Credits

• Recovery Rebate Credit
• Earned Income Tax Credit
• Child and Dependent Care Credit
• Adoption Credit
• Child Tax Credit and Credit for Other Dependents
• Credit for the Elderly or Disabled

Income and Savings Credits

• Recovery Rebate Credit
• Earned Income Tax Credit
• Saver’s Credit
• Foreign Tax Credit
• Excess Social Security and RRTA Tax Withheld
• Credit for Tax on Undistributed Capital Gain
• Nonrefundable Credit for Prior Year Minimum Tax

Homeowner Credits

• Residential Energy Efficient Property Credit
• Low-Income Housing Credit (for Owners)
• Frequently Asked Questions on Capital Gains, Losses, and Sale of Home

Health Care Credits

• Premium Tax Credit (Affordable Care Act)
• Health Coverage Tax Credit

Education Credits

• American Opportunity Credit and Lifetime Learning Credit

Deductions for Individuals

As found on the IRS website: https://www.irs.gov/credits-deductions-for-individuals

Work-Related Deductions

• Home Office
• Business Entertainment Expenses
• Employee Business Expenses

Itemized Deductions

• Deductible Taxes
• State and Local Tax Deduction Limit
• Property Tax
• Real Estate Tax
• Sales Tax
• Charitable Contributions
• Gambling Loss
• Miscellaneous Expenses
• Interest Expense
• Home Mortgage Interest
• Moving Expenses

Education Deductions

• Student Loan Interest
• Work-Related Educational Expenses
• Teacher Educational Expenses

Health Care Deductions

• Medical and Dental Expenses
• Health Savings Account (HSA)

Investment Related Deductions

• Sale of Home
• Individual Retirement Arrangements (IRAs)
• Capital Losses
• Bad Debt
• Opportunity Zones

To consult with one of our experienced tax professionals, please contact us today!