Tag Archives: family
Hiring a professional to care for a disabled adult, or having to pay for childcare services for children under 13 can be costly. Luckily, the government has a tax credit which can help reduce these costs and put more money back into your pocket. The Child and Dependent Care Credit can put up to 35% […]
— Read moreDo You Qualify for the Earned Income Tax Credit? For low to moderate income families, the Earned Income Tax Credit is available to help reduce the amount of federal income taxes that you owe. The refundable credit is available to families who earn the majority of their income through working (opposed to investing) and can […]
— Read moreRaising children can be expensive for working families. That’s why in 1997 the federal government enacted the Child Tax Credit (CTC) in which eligible families can receive a credit of up to $1,000 per child under the age of 17. The Child Tax Credit has received bipartisan support, and was expanded in 2001. A qualifying […]
— Read moreWith the implementation of the Affordable Care Act, Americans who chose to opt out of health coverage will end up paying a rather high penalty. For a five person family with a high income, the penalty can max out at over $12,000 in 2014. This penalty is expected to rise significantly in 2015 and continue […]
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