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Posts Tagged "TAX CREDITS"

Child and Dependent Care Tax Credits This Summer

Holding those little ones in your arms and slowly guiding them through the path of life, is surely one of the most joyous and fulfilling experience of a lifetime. But there is no denying that it can be hard on your pocketbook. Catherine, a mother of two children aged 7 and 10, experiences this dichotomy between pleasure of child rearing…read more →

Tax Credits That Can Reduce Your Taxes

Credit often causes smiles. Be it a good credit history or taking credit for doing something good, the word ‘credit’ usually has a positive connotation to it. This is especially true with tax credits. They help you reduce the taxes you owe. A tax credit is almost always better than a tax deduction because it reduces your taxes, dollar for…read more →

Tax Credits That Can Reduce Your Taxes

Tax credits help reduce the taxes you owe. A tax credit is almost always better than a tax deduction because it reduces your taxes dollar for dollar (i.e. – $5 in tax credits reduce your taxes by $5), while tax deductions only reduce your income and then you compute the tax owed from the reduced income (i.e. – $5 in…read more →

Nine Tax Credits That Can Reduce Your Taxes

Tax credits help reduce the taxes you owe. A tax credit is almost always better than a tax deduction because it reduces your taxes dollar for dollar (i.e. – $5 in tax credits reduce your taxes by $5), while tax deductions only reduce your income and then you compute the tax owed from the reduced income (i.e. – $5 in…read more →

Eight Tax Credits That Can Reduce Your Taxes

Tax credits help reduce the taxes you owe. A tax credit is almost always better than a tax deduction because it reduces your taxes dollar for dollar (i.e. – $5 in tax credits reduce your taxes by $5), while tax deductions only reduce your income and then you compute the tax owed from the reduced income (i.e. – $5 in…read more →

Child & Dependent Care Tax Credits

This week we will discuss child and dependent care tax credits, and filing Form 2441. If you have a child under the age of 13, or an incapacitated spouse or parent, you may be able to take a dependent care credit on your individual tax return. The most that is allowed is $3,000 worth of care expenses for one dependent,…read more →

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