Category Archives: Credits

Working taxpayers with lower incomes may qualify for a special credit called the Earned Income Tax Credit. It helps ensure those who can work, do, by offering an incentive to low income taxpayers. Next to Medicaid, this credit comes in second as far as the amount of help it provides to taxpayers at lower income […]

The IRS offers some tax breaks that can help you recover some of the money you spent on higher education, such as tuition costs or interest you’ve paid on student loans. This can help make your college education a bit more affordable in the long run. Tax Credits There are two different tax credits that […]

You may qualify for the Child Care Credit if you are employed and pay for childcare services where you work. There are certain requirements that you must meet in order to claim the credit on your federal tax return. Ask your tax adviser if you need help determining whether you qualify to claim the child […]

If you are disabled there is a variety of tax credits available. By using these credits and deductions you can lower the amount of taxes you may owe, sometimes this can even lead to a refund. The IRS defines as being disabled by the following two conditions: You are physically or mentally disabled that limits […]

Planning for the future can be a good investment, whether you decide to build a savings fund through an IRA or 401(k) plan, there is a chance that you may qualify for tax credits. For tax payers with qualifying savings plans you may be eligible for The Savers Credit, which can help reduce your tax […]

Parental Tax Credits

As a parent you may be eligible for additional tax credits. The IRS provides credits that are geared towards parents, these credit can help offset the cost or raising children and can help you save money at tax time. The credits below can be claimed on children who are considered dependents including children born in […]

The Earned Income Credit was put into place almost 40 years ago. This credit has been helping low and moderate income workers boost their revenues. The IRS would like to see everyone that is eligible claim the credit, currently only 4 out of 5 workers are actually claiming the Earned Income Credit. If you qualify […]

Five Helpful Tax Credits

There aren’t many things that can make you happy when it comes to paying taxes. But tax credits can help brighten your day lower your tax liability, it is a good idea to be informed which credits you qualify for and how you can go about claiming them. By using tax credits you lower the […]

Moderate income families understand that health insurance premiums can be expensive, but there are helpful tax credits that can offset some of the costs associated with them. In order for these credits to be claimed at tax time there are three requirements. You must receive your coverage through the Health Insurance Marketplace. Plans can be […]

If you financially support your parents, the federal government wants to help. At tax time, there are a few different options for tax assistance that is available to those who provide parental support. The 2014 tax season brings a new dependency tax care credit, as well as the ability to claim a parent as a […]