Category: Credits

What is the Earned Income Credit (EIC) and How to Qualify

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The Earned Income Tax Credit, also known as the EIC and EITC, is a tax credit for individuals who only make an annual income that is considered low or moderate. Your filing status and your income determine the amount of the credit.

If you are able to qualify for the credit your federal taxes will Read the rest

Student Tax Credits to Take Advantage of in 2016, 2017

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If you or someone you claim on your tax return is going to college this fall, some of your costs could save you money when tax season kicks off. You may be eligible for a tax credit on your federal tax return. Therefore, today we are providing you with tax credits and tips for back … Read the rest

Lifetime Learning Tax Credit – Expenses That Qualify

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The Lifetime Learning Credit is for those who attend college classes. It allows them to get a 20% tuition expenses credit with a phase out limit of $2,000 in tax credits on their first $10,000 of Save for College - Calculator for Education Savings Investmenttuition expenses.

This credit is for you, your spouse, or your dependents that are in an eligible school and … Read the rest

Here’s How to Claim the Child Tax Credit

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For those of you that didn’t know, there was a $1,000 Child Tax Credit that was developed fromHow to claim the child tax credit the Bush tax cuts.  This $1,000 credit was supposed to expire at the end of the 2012 calendar year. However, it has actually been extended!

This is obviously very good news for all of us with children. … Read the rest