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"Help spread the word about free tax preparation assistance & tax credit for low-income workers"

Apr. 2nd, 2012, by Yolanda Renteria

Tax season is over but its never too early to start preparing for next year!

Although our Volunteer Income Tax Assistant (VITA) sites for this year are closed, its never too early to start preparing for next year! We are always looking for individuals like YOU to volunteer and help us educate our community. Keep reading to learn more about our program and learn some helpful tips on preparing your taxes.

With foreclosures, unemployment, underemployment and debt hitting close to home for all too many Arizonans, financial assistance from programs like these can go a long way toward helping struggling taxpayers increase their financial stability, a key goal for United Way of Yuma County.

Do you know any families or individuals who earned less than $50,000 in 2011? United Way of Yuma County invites you to let them know they may be eligible for a federal income tax credit of up to $5,751.

For a full list of VITA sites contact United Way of Yuma County at (928) 783-0515 or visit our Facebook page, https://www.facebook.com/UnitedWayYuma.

For more information on EITC, visit www.irs.gov.

Here's a quick list of smart and simple ways to help you manage your finances. Share these tips with friends, family, coworkers and neighbors.

1. Create a budget. Make a list of your monthly income and expenses to help you determine whether you have enough money to cover your needs and wants. Using a budget also helps you better understand how and where you spend your money.

2. Track spending. Track spending for 30 days to compare what you actually spent to what you thought you would spend. In the future, you may need to adjust your budget or make different choices.

3. Make payments on time. Be sure to make minimum payments on all debts on or before billing due dates. A positive payment history helps to determine your credit score.

4. Pay down balances. Continually running high account balances on revolving credit loans (loans you borrow and repay, as needed) can negatively affect your credit score.

5. Avoid opening new credit lines unless absolutely necessary. Avoid moving balances from one card to another to take advantage of low introductory interest rates unless you're disciplined enough to use decreased interest fees to pay your debt down faster.

 

More News & Updates
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