Student Education Tax Credits There are two major education tax credits available to students to help offset the costs of higher education: The American Opportunity Credit and the Lifetime Learning Credit. Tax credits are frequently more valuable than tax deductions because credits reduce your tax
What Is The Child Tax Credit? Here are some important facts about the Child Tax Credit: Our KIDucator tax educator tool will help you find out if you are eligible to claim the Child Tax Credit on your tax return. This is a multi-year tool so you
Tax Credits for Buying Electric and Alternative Motor Vehicles These tax credits are available for 2018 Tax Returns: The Alternative Motor Vehicle Tax Credit is a credit that only applies to new cars. It is for placing a qualified fuel cell vehicle in service and may
Saver’s Credit – Qualified Retirement Savings Contributions Credit Do you make contributions to a retirement plan? In addition to deducting the amount of your qualified contributions, you may be able to claim an additional credit for those same retirement contributions. The Saver’s Credit (also known
Military Armed Forces Tax Deductions There are many tax benefits available to military personnel, including tax deductions, combat pay exclusions, extended deadlines, and other benefits. Read on to find out details about the various tax concerns that are specific to members of the armed forces.
The Earned Income Tax Credit (or EIC/EITC) The Earned Income Tax Credit (EIC or EITC) is a refundable credit for workers who earn low or moderate incomes. This credit is meant to supplement the income you have earned through working, whether for yourself (self-employed) or
What is Tax-Free Income? “Little by little does the trick.” -Aesop Whether you work for a paycheck or collect Social Security benefits, there are many sources of income available to you that are completely tax-free. Little by little, they can add up to a lot
Tax Exemptions and Payments For No Health Insurance Note: This page will be updated if there are any additional changes to the Affordable Care Act in 2019. Almost all U.S. citizens and legal residents (including dependents) are required to have health insurance for the entire
How to Balance Your Paycheck Tax Withholding in 2018 Did you know that about 30 million Americans are not having enough taxes withheld from their paychecks? This is what the Government Accountability Office, a legislative agency that provides data to Congress, concluded in a recent report.
2018 Tax Return Preparation Checklist Print this page as you collect Forms, Receipts, Documents etc. necessary to prepare and e-file your taxes. If you miss an important Form (Income, Deduction etc.) on your Tax Return you will have to prepare a Tax Amendment. Generally, don’t