Family and Taxes

 

The Latest

  • February 20, 2015

    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...

  • February 13, 2015

    Raising a child is expensive, but you can partially offset some of the expenses by utilizing tax deductions and tax credits that are available to...

  • February 11, 2015

    Families and individuals who get their health insurance through the Health Insurance Marketplace may be able to offset the cost of their monthly premiums with the Premium Tax Credit.

    The premium tax credit is a...

  • February 5, 2015

    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...

  • February 4, 2015

    Generally, taxpayers are allowed to claim exemptions on their tax returns that reduce their amount of taxable income. There are two main types of exemptions: personal exemptions and exemptions...