Basic Income Tax Tips  A number of basic income tax tips can
help you save money when tax time rolls around. It's also best
to employ year-round strategies and consider the potential
impact of raises and the alternative minimum tax (AMT) so that
you aren't surprised in April. Preparation and good paperwork
could mean the difference between paying a large chunk of money
in April and receiving a hefty refund check. While we all need
to pay our share, your goal at tax time should be to avoid
paying more tax than you actually owe.  Income Tax Income tax is
a tax applied on the income you generate. It also applies to
corporations or any sort of legal entity. Individuals are taxed
on their total income with allowances for deductions. Whether or
not you should file taxes depends on a variety of factors,
including your citizenship status, gross income, age, filing
status and whether anyone can claim you as a dependent.
Basically, if you're not a dependent of someone else, such as
your parents, you must file a tax ret