A Gallup survey in April showed that of Americans think they pay too much in federal income tax This is the highest number since It shows people are worried about getting the most out of their tax returns By knowing about tax deductions and credits you can manage your money better and avoid paying too much to the government In this article I'll show you How To Maximize Your Tax Deductions amp Credits for Personal Finance Getting the most out of your tax deductions and credits can really help your finances You'll learn about filing statuses tax-advantaged retirement accounts and how to adjust your tax withholding This guide will give you the tools to make your tax return better and keep more of your money Key Takeaways Understand the different tax filing statuses and how they impact your deductions and credits Maximize your tax deductions by identifying eligible expenses such as mortgage interest medical costs and charitable contributions Explore tax credits that can directly reduce your tax liability including the Child Tax Credit and Earned Income Tax Credit Optimize your retirement contributions to lower your taxable income and maximize tax-advantaged savings Ensure your tax withholding is accurate to avoid overpaying throughout the year and receiving a smaller refund Understanding Tax Filing Statuses Finding the best tax filing status is key to getting the most from your taxes Your filing status can change how much tax you pay It can even decide if you need to file a tax return You... Login to read full