Are there any tax credits or deductions available in Utah?
Yes, there are several tax credits and deductions available to taxpayers in Utah. Some popular credits include the Earned Income Tax Credit, which assists low-income individuals and families, and the Child and Dependent Care Credit, which helps with expenses related to child care. Utah also offers deductions for contributions to a 529 college savings plan and retirement accounts, such as the Utah Educational Savings Plan and Utah Retirement Systems. Additionally, homeowners may qualify for a property tax deduction or a residential energy systems credit for energy-efficient upgrades. It's advisable to consult the Utah State Tax Commission's website or a tax professional for specific eligibility criteria and further details on these credits and deductions.
Answered May 3, 2024
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