20 Money-Saving Tax Deductions You Need to Know

ADVERTISEMENT %2F%2Fwww.walmart.com%2Fcp%2Foutdoor-play%2F14521%2F%3Fadid=1500000020090000049461%26veh=dsp_inf%26wmlspartner=BST_con_CPC%26cn=FY23-spring-SpringContentInfluencerCommerce_mult_pw_mult_dis_othr_xcat_oth_N_N%26utm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/k7fsd_uZnZmc8xnrsESSmMOwNX0=264 [Fatherly](%2F%2Fwww.fatherly.com%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/x6KSNXROa8ymZbh91mKGyyQG5-E=264) Tax season is upon us. As always, it’s important to get a handle on every available credit and deduction to help put you and your family on firmer financial ground. Fortunately, some of the more popular breaks offer a bigger benefit than in years past. Here are 20 important deductions to know. MONEY %2F%2Fwww.fatherly.com%2Flove-money%2Ftax-credit-parents%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/jAXaiobhqN8HWR6v7C17HkIQgcs=264 [The Tax Deductions All Parents Should Know](%2F%2Fwww.fatherly.com%2Flove-money%2Ftax-credit-parents%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/2/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/KZ-kMU7lN_itm-W4brIGqiQE3mY=264) Don't leave money on the table by ignoring [these credits and deductions.](%2F%2Fwww.fatherly.com%2Flove-money%2Ftax-credit-parents%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/3/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/wzqI4eVSZE83GGchOdzK-BCSEA8=264) [READ THE STORY](%2F%2Fwww.fatherly.com%2Flove-money%2Ftax-credit-parents%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/4/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/1LgZEsDXCPJoLWsersfOzFlSkV0=264) TIPS AND TRICKS Don’t Forget About that Child Tax Credit The American Rescue Plan Act increased this income-based credit to as much as $3,600 for each child under age 6 and to $3,000 for each kid aged 6 to 17. But most parents already received half of that in the form of monthly payments from July through December of last year. “That was an advance, so you may get a smaller credit when you file your taxes and therefore a smaller refund,” says Lisa Greene-Lewis, a tax expert with TurboTax. If calculating your remaining credit seems confusing, don’t fret. The IRS sent out Letter 6419, which lists the amount of Child Tax Credit payments you received in 2021 and the number of children used to calculate those payments FURTHER READING - [6 Money-Saving Tips to Remember as the Cost of Everything Increases](%2F%2Fwww.fatherly.com%2Flove-money%2Fsave-money-during-inflation-expert-tips%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/DcUFTuRqLD1DYy2sagCsD6ECvZI=264) - ​​​​​[Where to Put Your Money When Inflation Is on the Rise](%2F%2Fwww.fatherly.com%2Flove-money%2Fwhere-to-put-money-inflation%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/U-0AfnYC6AIY24LYP53mQ6XJhGg=264) - [How to Buy a Car in Today’s Crazy Market](%2F%2Fwww.fatherly.com%2Flove-money%2Fhow-to-buy-a-car-today-expert-advice%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/iV-_YhBUAY6v2N9Gu5hRQa3mMNc=264) ADVERTISEMENT %2F%2Fwww.walmart.com%2Fcp%2Foutdoor-play%2F14521%2F%3Fadid=1500000020090000049461%26veh=dsp_inf%26wmlspartner=BST_con_CPC%26cn=FY23-spring-SpringContentInfluencerCommerce_mult_pw_mult_dis_othr_xcat_oth_N_N%26utm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/2/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/VYE1pOkvKlWO2fqxxmw2fyxFvEI=264 FROM OUR FRIENDS %2F%2Fwww.fatherly.com%2Fgear%2Fone-dads-must-haves-for-moving-family-fun-outdoors-this-spring%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/MBBa9fUAWmwY06aMTR_0K8SkTeA=264 [One Dad’s Must-Haves For Moving Family Fun Outdoors This Spring](%2F%2Fproduct1.com%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/FoZeRYBAj3pxNZn43-PtCPaGRW0=264) Spring is synonymous with warm breezes rustling the leaves, the comforting buzz of lawn mowers starting back up, and the collective sigh of relief from parents everywhere as they can once again send their kids outside to play. 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Program](%2F%2Fwww.fatherly.com%2Fnews%2Ffour-day-workweek-38-companies-us-canada-program%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/2/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/dBvGwdFJm2OCHALr57kimvMb9fA=264) [The theoretical schedule just got a strong endorsement.](%2F%2Fwww.fatherly.com%2Fnews%2Ffour-day-workweek-38-companies-us-canada-program%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/3/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/5W4fVZKmdgMHdQ8AFprSvf_d-P0=264) [READ THE STORY](%2F%2Fwww.fatherly.com%2Fnews%2Ffour-day-workweek-38-companies-us-canada-program%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/4/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/j974zo9UxqKVSeI0Vq-V3vVe9g4=264) LOVE %2F%2Fwww.fatherly.com%2Flove-money%2Fhow-to-make-better-joint-decisions%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/3Gyr1PGo1MMQeHhXeISihO0CpGg=264 [How to Make Better Joint Decisions with Your Partner](%2F%2Fwww.fatherly.com%2Flove-money%2Fhow-to-make-better-joint-decisions%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/2/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/RJBugu5SK9O5pZsGbtPbI9mkwhY=264) Teamwork makes [the dream work.](%2F%2Fwww.fatherly.com%2Flove-money%2Fhow-to-make-better-joint-decisions%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/3/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/krUGgEarE3MqjPYKb2Q1mfVndfE=264) [READ THE STORY](%2F%2Fwww.fatherly.com%2Flove-money%2Fhow-to-make-better-joint-decisions%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/4/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/cuk4HfLvEjd3SNDXfcTeIGANu-E=264) FURTHER READING - [8 Communication Exercises All Couples Should Do](%2F%2Fwww.fatherly.com%2Flove-money%2Fcommunication-exercises-for-couples%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/dYUy2NGM2-H77bkyJtPvOOX2GJk=264) - ​​​​​[Is the Division of Labor Fair in Your Marriage? Here’s How to Find Out](%2F%2Fwww.fatherly.com%2Flove-money%2Fis-the-division-of-labor-fair-in-your-marriage-heres-how-to-figure-it-out%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/kzVcqu7CQzDQBOgsERrCsVGGn_0=264) - [Debunking the Myth of the 50-50 Marriage](%2F%2Fwww.fatherly.com%2Flove-money%2Fwhy-fifty-fifty-marriages-do-not-work%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/F_0ZMrsCGqoG225sI9a7EkI-NaA=264) TV %2F%2Fwww.fatherly.com%2Fplay%2Fstar-trek-strange-new-worlds-full-trailer-paramount-plus%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/1/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/RjvdSG-8soJMtnvTE5BX9wpMPAE=264 [The Star Trek ‘Strange New Worlds’ Trailer Sets Phasers to Very Fun](%2F%2Fwww.fatherly.com%2Fplay%2Fstar-trek-strange-new-worlds-full-trailer-paramount-plus%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/2/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/iHb3zqhlR3qSCVpmpsQ2Inxv9tg=264) Star Trek's [old-school space adventure looks like a blast](%2F%2Fwww.fatherly.com%2Fplay%2Fstar-trek-strange-new-worlds-full-trailer-paramount-plus%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/3/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/jG0At5dPPuiYaZQfoQZo3tSYWcg=264) [READ THE STORY](%2F%2Fwww.fatherly.com%2Fplay%2Fstar-trek-strange-new-worlds-full-trailer-paramount-plus%2F%3Futm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/4/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/kPCz1d0J7-2HscOpNDKYua8JwJo=264) ADVERTISEMENT %2F%2Fwww.walmart.com%2Fcp%2Foutdoor-play%2F14521%2F%3Fadid=1500000020090000049461%26veh=dsp_inf%26wmlspartner=BST_con_CPC%26cn=FY23-spring-SpringContentInfluencerCommerce_mult_pw_mult_dis_othr_xcat_oth_N_N%26utm_campaign=25929%26utm_medium=fatherlyDaily%26utm_source=newsletter%26utm_session=c37e7b32-5b18-4c2b-a3ac-adb88aa64d4e/3/0100017ff616dc25-3a9a6cf0-fc0a-4532-8cff-f2cc6234a824-000000/J32vEsfn8-FTGF6RjSibi9hzvY4=264 You're receiving this email because you signed up to receive communications from BDG Media. 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