2. Earned Income Credit

If you’re lower to mid-income and you have children, it could be beneficial for you to look into the earned income tax credit, also known as the EIC. Plus, EIC is also great for new businesses with less income, as it allows you to take a set amount of the taxes you owe.

Of note is also the fact that you can rely on this and business credits and deductions at the same time. These combinations can truly help take a little bit of a financial burden off your shoulders.