Tax Credits

AGI vs. MAGI: How to Calculate Each One
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2021/12/Understanding_AGI_and_MAGI.mp4"][/video] Adjusted Gross Income (AGI) and Modified Adjusted Gross Income (MAGI): When it comes to calculating your taxes, you will often hear…
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…
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 Credit
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2015/01/Child_Care_Tax_Credit_Explained.mp4"][/video] Many parents and people caring for dependent family members can receive a tax credit for expenses paid to care for these individuals. This…