Tag: 2015

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

Try TurboTax 2016 to Calculate Your 2015 Obamacare Tax Credit

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Since January 2014 the Affordable Care Act mandates that majority of Americans have health insurance or pay a tax penalty. If taxpayers decide to obtain theObamaCare calculate health care creditir health insurance through the Health Insurance Marketplace, they potentially could get tax credits that could make their monthly premiums more affordable.

These tax credits are for those who … 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