14 Tax Credits and Deductions That May Disappear

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

9 Tips to Ensure You’ll Have Enough to RetireFamily

Which popular tax breaks will stick around now the election’s over? Here are some predictions.

A lot of time, money and energy was spent predicting the outcome of the presidential election. But prediction season’s not over yet – a lot of next year’s tax policy remains unclear. MarketWatch takes a stab at how some personal tax issues may be affected. Here’s a few…

Earned Income Tax Credit

Legislation enacted in previous years increased the earned-income credit for families with three or more qualifying children and allowed married joint-filing couples to earn more without having their credits reduced. These changes, which help lower-income families, are scheduled to expire at year-end.

Prediction: The current more-generous rules will be extended through at least 2013.

Higher-Education Tuition Deduction

This write-off, which can amount to as much as $4,000 or $2,000 for higher-income folks, expired at the end of 2011.

Prediction: The deduction will be retroactively restored for 2012 and probably extended through at least 2013.

$500 Energy-Efficient Home Improvement Credit

For 2011, taxpayers could claim a tax credit of up to $500 for certain energy-saving improvements to a principal residence. This break expired at the end of 2011.

Prediction: This one is probably gone for good.

There’s nearly a dozen more predictions over at MarketWatch, and if you’re ready to start planning taxes, check out the links below. (We’ll have a lot more to say during tax season when things are clearer.)

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 9 Tips to Ensure You’ll Have Enough to Retire

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,675 more deals!