Now that many parents have helped their children with settling into the college or university, parents need to be reminded that our current tax law provides tax credits for certain qualified education expenses. Here is a short summary of some of the benefits available to parents.
Your children are worth an enormous amount to you. They are also worth money on your tax return in the form of a Child Tax Credit. Here is some guidance about the credit.
Home repairs can be draining on your pocket book. However, some repairs help the environment and save you money on energy costs. As an incentive, the government is offering various credits to ease the pain of making these changes to your home.
The government is here to help with the cost of your college education. Several credits are offered for attending higher learning institutions. Don't let this money slip away.
Everyone knows that an adoption can be very expensive. In order to facilitate more adoptions, the government provides a tax credit to help ease part of the cost of an adoption.
Credits are the good guys of the tax code. Think of the IRS giving you money for a particular set of circumstances. If you are legally entitled to a credit, you want to take the credit. Here are some common instances of credits that are available to a taxpayer.
The government provides a credit for certain low income taxpayers. The credit may apply whether or not you have children or dependents. If you meet the requirements, a taxpayer may get a nice refund and certainly more than the taxpayer expected.
Want to contribute to a company retirement plan but cash flow is tight? The government offers credits to minimize some of the sting that is caused when contibuting to a company plan.