5 Financial Fitness Tips for this Tax Season

Come January, you and many others will start thinking about holiday indulgences and the need to get fit.  While some will be thinking physically fit, others may be thinking financially fit. For the latter, United Way has some tips to consider adding to your tax routine this year.

  1. Determine if you’re eligible for EITC. The Earned Income Tax Credit is lauded as the most effective federal program for lifting children and families out of poverty. In Orange, Osceola and Seminole counties, more than $2.5 billion in credits have been claimed over the past seven years, including more than $570 million distributed in 2012. But still, the IRS estimates that one in four qualified taxpayers misses out. If you’ve worked at least one day in the past tax year, you may qualify based on your income and number of dependents. See income limits by clicking here.
  2. Find a free VITA tax prep site. With more than 30 throughout Central Florida, there is bound to be one near you to help walk you through filing your taxes, claiming EITC and answering tax-related questions. Volunteer Income Tax Assistance (VITA) sites allow taxpayers to keep hard-earned money in their wallets.
  3. Text “mymoney” to 898-211 for timely info and tips. Navigating the system is tough. United Way offers quick tax-related updates via text message for those who subscribe.
  4. File your own taxes online for free. If you’re comfortable with technology, use MyFreeTaxes.com. This free site will even factor in the Earned Income Tax Credit and others to make sure you’re getting your maximum refund.
  5. When in doubt, call 2-1-1. Specialists are standing by 24/7/365 and can help you get the information you need when it comes to tax help or any other community resource.Financial Stability Coalition - EITC Lock Up 4c

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