Tax Credits

The Latest

  • March 1, 2013

    Most working parents have only one way of getting a tax break on the expenses they pay for childcare – the special tax credit allowed by law. You get a credit against expenses of up to $3,000 for the care of one child and $6,000 for the care of...

  • February 27, 2013

    NEW YORK (MainStreet) — Did you move because of a new job or a job location last year? You may be entitled to an “above-the-line” deduction for your unreimbursed moving expenses.

    You...

  • February 21, 2013

    You do. That is, if hope to take a child-care credit on your income tax return without running into problems with the IRS.

    The child-...

  • February 19, 2013

    NEW YORK (MainStreet) — One of the expired tax breaks extended by the recently passed American Taxpayer Relief Act of 2012 is the cumulative “Nonbusiness Energy Property Credit” for...

  • February 12, 2013

    NEW YORK (MainStreet) — Pew Research calls it the “Lost Decade Of the Middle Class.”

    “Since 2000, the middle class has shrunk in size, fallen backward in income and wealth and shed...

  • February 8, 2013

    If your household income last year was $57,500 or less, you could be leaving money on the table this tax season.

    Uncle Sam offers a tax credit that can be worth up to half of what you contribute to a traditional individual retirement...

  • December 20, 2012

    Life can be difficult for individuals who are disabled. If you are suffering from a disability or you are a senior, you may qualify for the Elderly and Disabled Tax Credit. This tax credit can help you save more money on your tax return. TurboTax...

  • November 20, 2012

    Most of us have heard of certain tax-related terminology. However, that doesn't mean that we know what they actually mean or how they can affect our tax strategies. In this video, Greg McGraime explains tax credits as well as ways to take...

  • 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...