Tax credits are a valuable tool to trim your tax bill — here’s how they work
Tax credits can help you save big on your taxes. Here’s how they work and how to qualify.
6 min read
Jan 23, 2026
Mallika Mitra
Contributor, Tax and Investing
EXPERTISE
- Taxes
- Personal finance
- Investing
- Retirement
Mallika Mitra is a freelance writer and editor focused on taxes, retirement planning, investing and more. She was previously a writer and editor at Money, where she wrote a weekly newsletter about investing, and a wide range of stories on meme stocks, crypto, generational investing trends and more. Her work can also be found in Bloomberg News, CNBC, Business Insider and The Wall Street Journal's Buy Side, among other places.
Non-Bankrate Publications or Mentions
- WUSA9 interviews Mallika about recession proofing your finances
- WGN9 interviews Mallika on why crypto is so popular
- Everyone's Talkin' Money podcast interviews Mallika on how to invest during a recession
- Eye on Travel with Peter Greenberg interviews Mallika on the best places to retire
- This Morning with Gordon Deal interviews Mallika on overconfidence bias in investing
Mallika's latest articles
-
-
Donation value guide: Calculate the value of your donated items for your 2025 and 2026 taxes
If you want to claim a tax deduction for your donations, you’ll need to place a value on each item. This valuation guide will help.
4 min read Jan 15, 2026 -
No tax on Social Security benefits? Senator proposes new bill, but high-income taxpayers may not like it
Lawmakers have introduced a new bill that aims to permanently end taxes on Social Security benefits. High-income earners may not like it.
3 min read Sep 09, 2025 -
How long you should keep tax returns and other IRS records
In many cases, keeping tax records for three years is long enough, but there are a few exceptions.
4 min read Aug 29, 2025 -
6 ways the new tax law could reduce your 2025 taxes
The new tax law makes substantial changes for the 2025 tax year. Here are 6 new tax provisions that could help you save on taxes this year.
5 min read Jul 11, 2025 -
How to convert a traditional IRA to a Roth IRA
Speak with a financial advisor or a tax expert before making the move.
5 min read Jul 07, 2025 -
LLCs and taxes: Here’s how to file taxes for an LLC
If your business is an LLC, you’ll need to pick the tax-filing status that suits your business best.
5 min read Jun 16, 2025 -
What is an LLC, and how does it work?
An LLC can reduce the legal liability of its members, among other benefits, but there are some disadvantages to consider, too.
4 min read Jun 16, 2025