Tag Archives: child tax credit

Five Tax Credits

There are not many things that make you happy about taxes. But tax credits can help to reduce your tax liability, it is a good idea to know what credits you are eligible for and how you can claim them. By using tax credits, you reduce the amount of taxes that you owe for the […]

The Child Tax Credit

Families working know how expensive it is to raise children. At tax time, the government offers these families some help through the 1997 child tax credit. This credit gives eligible families $ 2,000 per child under 17 years of age. Both Democrats and Republicans continued to support tax credit, which resulted in an expansion in […]

Though there are no refunds once you have children, they may be worth a credit – a tax credit, that is. Parents can benefit from the Child Tax Credit, a popular tax break that is worth $1,000 per child when you file. Your child must be claimed as a dependent on your tax return and […]

Once a divorce is finalized, a determination must be made for who will claim any tax credits relating to children that the couple had. Only one parent will be eligible to claim all of the credits. That means that credits, such as the Earned Income Tax Credit and dependency exemptions cannot be split between both […]

Not everyone is required to file a tax return. Most people are, but for those who aren’t, it may still prove beneficial to do so anyway. If you’re not sure if you have to file a tax return, you should familiarize yourself with the rules before tax season approaches. Income, age, and filing status all […]

Are you the parent of a child under the age of 17? You can claim a tax credit worth $1,000 per eligible child. Every tax year until the child turns 17 you are qualified to claim the Child Tax Credit in addition to the dependency exemption for the child, which means you can stack the […]

Get a Deduction Just For Your Kids If you’re a parent, you may find some comfort in the fact that your children can actually save you money. While most of your parenthood is spent, spending, the IRS offers you a tax deduction just for having kids. The following tax savers may come in handy for […]

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 […]

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 […]

Working families know how expensive it can be to raise children. At tax time, the government offers some help for these families through the Child Tax Credit, which was enacted in 1997. This credit allows eligible families to receive up to $1,000 per child under the age of 17. Both Democrats and Republicans have shown […]