Best approaches for filing taxes

Best approaches for filing taxes

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by ANN SHERIDAN / NBC Charlotte Staff

Bio | Email | Follow: @SheridanWCNC

WCNC.com

Posted on February 26, 2013 at 7:57 AM

Updated Tuesday, Feb 26 at 8:00 AM

CHARLOTTE, N.C.--  It's tax season.  And many of you are getting returns ready. 

"It's going to be nice getting a little back instead of writing a check,” said Louise Watson as she sat in the H & R Block office on East Morehead Street.

Watson has already filed her 2012 tax return.  She won’t owe anything, she said.

“This year I came in with my clip board and I put everything in it  that  had to do with taxes,” she said.

Louise is a regular at H&R Block.  The office will get busy in just a few days, according to tax specialist Janina Foxx.

“Four months can seem like a lifetime for us,” she laughed.

What's her number one tip?

“Ask a lot of questions."

Foxx pointed  to three things that may save you money.  First:  Energy Credit.   If you’ve  installed energy efficient windows or doors,  insulation  or a non- solar water heater you may be eligible for a one- time  credit of $500 on this return.

There's also the lifetime learning credit.  If you are continuing your education or attending graduate school you could be eligible for a $1,000 credit, she said.

And finally,  there's the American Opportunity Credit  If you have a child in college it can net you a return of $2,500 per child, per return, on all  four years of college tuition, fees or materials.

Asking questions has paid off for Watson.  She is already asking about next year’s laws.

“I have found if you do the research and have professional help with your financial situation, you can sleep better at night, said Watson.

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