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10 tax breaks for the middle class

Kiplinger Logo By Sandra Block of Kiplinger | Slide 1 of 11: If you believe that tax breaks are reserved for hedge fund managers and companies with offshore subsidiaries, you’re probably paying too much to the IRS.

Lawmakers have enacted dozens of tax incentives targeted at middle-class families. Taking full advantage of these tax breaks is particularly important for dual-income couples because there’s a good chance they’ll get hit by the marriage penalty—when two individuals pay more in taxes as a married couple than they would pay if they were both single. And they work together: Lowering your adjusted gross income (AGI) with one strategy could make you eligible for other tax breaks.

All of these breaks survived the most recent tax reform, and one, the child credit, got a big boost.

Take a look at these ten options and make sure you’re not missing out.

SEE ALSO: The Most-Overlooked Tax Breaks and Deductions

10 tax breaks for the middle class

If you believe that tax breaks are reserved for hedge fund managers and companies with offshore subsidiaries, you’re probably paying too much to the IRS.

Lawmakers have enacted dozens of tax incentives targeted at middle-class families. Taking full advantage of these tax breaks is particularly important for dual-income couples because there’s a good chance they’ll get hit by the marriage penalty—when two individuals pay more in taxes as a married couple than they would pay if they were both single. And they work together: Lowering your adjusted gross income (AGI) with one strategy could make you eligible for other tax breaks.

All of these breaks survived the most recent tax reform, and one, the child credit, got a big boost.

Take a look at these ten options and make sure you’re not missing out.

SEE ALSO: The Most-Overlooked Tax Breaks and Deductions

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