22 Tax Breaks That Could Save Your Family Big This Tax Season

    Is the IRS trying to take all of your money? Here's how to take some of it back!

    Matt Becker
    by Matt Becker

    BuzzFeed Contributor

    Alice Mongkongllite / BuzzFeed

    1. Child tax credit

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    It's time for those kids to start pulling their weight around here! This credit can cut up to $1,000 off your tax bill, per child. Ka-ching!

    2. Additional child tax credit

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    What if that child tax credit is more than you actually owe in taxes? You may still qualify for the full amount, which would mean the government ends up paying you at tax time.

    3. Child and dependent care credit

    Columbia Pictures

    If you pay for childcare, up to 35% of those expenses can be knocked off your tax bill. (Click here for more.)

    4. Earned income tax credit

    Comedy Central

    Here's another one that might actually force the government to pay you. The lower your income and the more kids you have, the higher your credit could be. (Click here for more.)

    5. Extra dependents

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    If you provide financially for a relative, or for someone unrelated but living in your house, you may be able to claim them as a dependent and reap the tax benefits.

    6. Student loan interest

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    Up to $2,500 of student loan interest can be used to reduce your taxable income. Mama told you that education would pay off!

    7. Mortgage interest

    FX

    All those mortgage payments you're making? That interest may be deductible as well.

    8. Health insurance premiums

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    If you're getting health insurance through the Obamacare exchanges, you might qualify for a refund of some of your premium payments.

    9. IRA contributions

    NBC

    An IRA is a retirement account that works a lot like a 401(k), but you open it up yourself instead of getting it through your employer. There are some big tax breaks for contributing and you have until April 15 to make your 2014 contribution. Here's some more info on which type of IRA might be best for you.

    10. Opening a SEP-IRA

    Via quickmeme.com

    This is another type of IRA, but this one is for the self-employed. You have until April 15 to open a SEP-IRA and contribute (and deduct) up to 25% of your net self-employment income.

    11. Saver's credit

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    Speaking of saving for retirement, you may be able to get a double tax benefit for it. The saver's credit can slash up to $2,000 off your tax bill just for putting money into a retirement account.

    12. Health savings account

    FX

    A health savings account allows you to pay for medical expenses tax-free, and it can even be a pretty kick-ass retirement account. You have until April 15 to make a 2014 contribution.

    13. Adoption expenses

    Via favim.com

    Up to $13,190 of adoption expenses can be used to reduce your tax bill.

    14. Moving expenses

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    If you moved because your job required it, or because you started a new job or business, you may be able to deduct your moving expenses.

    15. Medical expenses

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    This one can be tough to qualify for, but if you had a lot of medical bills you may be able to deduct some of them.

    16. Charitable contributions

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    Did you give money, clothes, food, etc. to charity? You may be able to deduct those donations as well.

    17. Unreimbursed employee expenses

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    Any costs necessary for your job that you had to pay out of pocket can reduce your taxable income.

    18. Tax preparation fees

    NBC

    You may even be able to deduct the cost of having someone prepare your taxes!

    19. American opportunity tax credit

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    Are you paying college tuition? That's another $2,500 per child you may be able to knock off your tax bill.

    20. Lifetime learning credit

    NBC

    If you can't qualify for the American opportunity credit, you still may qualify for this one, which can save you up to $2,000 per student.

    21. 529 plan (college savings)

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    It's too late to make a contribution for 2014, but you can check to see if your state offers an income tax deduction so you can start planning ahead for 2015.

    22. 401(k) contributions

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    Just like a 529 plan, this is about planning ahead. Any contributions you make now will be deductible next year, so if you can increase them even a little bit you will save on next year's taxes. Contributing at least enough to get the full employer match is a great start.