Tax Preps - Get the Most from Your Return - KAIT Jonesboro, AR - Region 8 News, weather, sports

Yalanda Young Reports

Tax Preps - Get the Most from Your Return

JONESBORO (KAIT) - The W-2s are in and with the economy in such bad shape, many want their money fast.

But Matt Devers with the Ledger Company in Jonesboro says...take some time to prepare...before filing.

"When you get those envelopes that say important tax information on them, it's a good indicator that that's something you need to hold on to or bring to the tax office."

Devers says you also need to bring your social security card, driver's license, your dependents' social security cards, and a list of questions you want answered, especially if you are looking for deductions. 

"Sometimes you don't know what to look for so we try to ask those probing questions to try to open up your mind to see if there is a deduction out there that you may have missed."

A new one to look for is a Homeowners Credit. If you pay real estate taxes then you usually had to itemize to use that, but this year they are allowing you to add that which is helping a lot who don't itemize. There's even a Savers Credit, which if you contribute to a retirement account or 401 account, you can pick up a little extra credit there. And a Child Care Credit...

"If you are working or a student that you get credit for your child care like if you have to put your child in daycare."

There's even something to help out the struggling new homeowner.

"Which is actually if you have not owned a home within the last three years then you can actually pick up a $7500 refundable credit, and that is actually paid back to the IRS over a 15 year period, so it's actually an interest free, 15 year loan, from the government."

Devers says that he recommends filing person to person at an actual tax office rather than online. But they do offer online services.

At you can file your taxes.  Dever's wife was diagnosed with breast cancer, so in honor of her 10% of the proceeds goes towards breast cancer research and education.

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