Tax Credits

The Latest

  • April 30, 2015

    If you owe taxes, it may feel as though you’ve been cast adrift upon a sea of uncaring bureaucracy. Don’t despair—you have rights! In fact, there is a new “Taxpayer Bill of Rights” that was...

  • April 8, 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...

  • March 27, 2015

    When it comes to tax returns, you will often hear two different terms regarding income: Adjusted Gross Income (AGI) and Modified Adjusted Gross Income (MAGI).

    Both AGI and MAGI are important in calculating the amount of...

  • March 26, 2015

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

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

  • March 25, 2015

    Are you wondering if you need to file a tax return? While most people who earn an income must file a Federal income tax return, that is not true for everyone.

    Depending on your...

  • March 4, 2015

    The ability to work for yourself and be your own boss is an exciting prospect. Becoming self-employed in your field of expertise can give you the freedom to find a work-life balance that is hard to achieve when you are employed by a someone else...

  • 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 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 2, 2015

    Beginning in 2014, the Individual Shared Responsibility provision of the Affordable Care Act takes effect. This means that each and every taxpayer (and family member) is now required to maintain basic health insurance, also called “...