Child Tax Credits

The Latest

  • December 15, 2014

    One of the most valuable and popular Federal tax credits is the Child Tax Credit.

    The Child Tax Credit is a non-refundable credit...

  • October 30, 2014

    Tax credits, available through the IRS, can bring you a substantial savings on your Federal income tax bill.

    A tax credit reduces your tax liability dollar-for-dollar. This means that a $500 tax...

  • October 22, 2014

    The Earned Income Tax Credit (EITC or EIC), which has been around since 1975, essentially provides a subsidy for low-income working families. To claim this tax credit, you must meet certain eligibility...

  • December 7, 2012

    Having a child can be one of the most wonderful experiences of your life. However, the cost of having children can come with a hefty price tag. The cost of raising a child is high, so it is vital to take advantage of tax saving benefits that are...

  • November 15, 2012

    With everyone talking about the fiscal cliff these days, it’s easy to worry we might all be jumping off of it. Thankfully, experts say there’s no need to unpack your parachutes just yet, but there may be some cause for concern if tax...

  • October 29, 2012

    Life insurance is an important part of a business. It may be used as a funding mechanism for your buy-sell agreement and as business interruption insurance to pay...

  • January 23, 2012

    Tax credits can help reduce your liability dollar-for-dollar. That being said, they cannot reduce your income tax liability to less than zero. Simply put, your gross tax liability is the amount you are responsible for paying before any credits...

  • April 11, 2011

    If you’re a parent, you want to squeeze all the money out of your tax refund that you can. This includes adding all the child tax credits you can find. Fortunately, there is no shortage of them to be found. You should be able to find something...

  • August 10, 2010

    For taxpayers with children under the age of 14, the Kiddie Tax was implemented in 1986 to insure that higher tax-bracketed parents did not transfer their investments to their children to avoid or minimize their own income taxes.  This is not a...

  • August 10, 2010

    The Kiddie Tax requires that unearned income generated by children under age 19 (or 24 for full-time students) is taxed at their parents’ rate rather than their own. The Kiddie Tax applies only to unearned income...