Tax Credits
Tax Breaks for Parents
Raising a child is expensive, but you can partially offset some of the expenses by utilizing tax deductions and tax credits that are available to…
Adjusted Gross Income (AGI) vs. Modified Adjusted Gross Income (MAGI)
What’s the Difference Between Your AGI and MAGI? When it comes to calculating your taxes, you will often hear two different terms regarding income: Adjusted…
The Child Tax Credit
A Tax Break for People Who Have a Qualifying Child One of the most valuable and popular federal tax credits is the Child Tax Credit. For tax…
Tax Tips for the Affordable Care Act (ACA)
Learn How the New Health Care Law Impacts Your Taxes Beginning in 2014, the Individual Shared Responsibility provision of the Affordable Care Act takes…
Income Tax Credits Explained
Learn How Tax Credits Can Reduce What You Owe A tax credit is a dollar-for-dollar reduction in the amount of tax that you owe. For…
The Child and Dependent Care Tax Credit
Federal Tax Break for Households With Children and/or Dependents Many parents and people caring for dependent family members can receive a tax credit for expenses paid to…
The Foreign Tax Credit
There is a tax credit or deduction available for those who have paid taxes on foreign earned income if they also paid U.S. taxes in…
The American Opportunity Tax Credit (AOTC)
Offset the Costs of Higher Education by Reducing Your Income Tax The American Opportunity Tax Credit (AOTC) was originally introduced for tax years 2009 and…
