As you get ready to file your tax return for 2012, don’t overlook many of the benefits that were ushered in when Congress passed the American Taxpayer Relief Act in early 2013. This act – also known as the so-called “fiscal cliff legislation” – may work in your favor, particularly because it gives many parents […]
10 Best Tax Deductions and Credits for Parents Read More »
The Child Tax Credit allows you to claim up to $1,000 for each of your “qualifying” children who are under the age of 17 – provided you meet certain income limits. When Congress passed the fiscal cliff agreement in January 2013, lawmakers put the Child Tax Credit into effect for five years, locking it
What is the Child Tax Credit? Read More »
Q: Can I claim the child tax credit plus the child and dependent care credit? A: As long as you legally qualify for both credits, you are allowed to claim both the Child Tax Credit and the Child and Dependent Care Credit, according to IRS rules. To claim these credits on your taxes, simply calculate
Can I Claim the Child Tax Credit Plus the Child and Dependent Care Credit? Read More »
Raising children can be a joyful and rewarding experience, but it can also come with significant financial responsibilities. To help alleviate some of the financial burdens, the United States government offers the Child Tax Credit. This credit is designed to provide financial assistance to families with eligible children, reducing their federal income tax liability. In
The Child Tax Credit – How to Qualify and Claim This Tax Benefit for Your Family Read More »
