Tax Credits

The Earned Income Tax Credit (EITC) was created for low to moderate-income families. The more children you have, the greater the amount of the EITC is for you. You can claim this tax credit if you are childless, but you will not receive the same tax breaks, and the requirements for eligibility are stricter. You […]

With the rising cost of higher education, student loans now encompass the lives of those who have degrees. To help offset this cost, the government offers different education tax deductions and credits for qualified students. This only applies to those who are enrolled in eligible degree programs or schools. The American Opportunity Tax Credit (AOTC)

Adoption can be one of the biggest blessings, but it does usually require the parent or parents to incur many adoption-related expenses. The Adoption Tax Credit offered by the federal government gives you the chance to take a big credit that you can use to offset your tax liability come tax season. Tax credits give

This tax credit is perfect for those who have incurred certain educational expenses like tuition. It gives taxpayers a chance to save some money on the taxes they may owe the IRS come tax season. The Lifetime Learning Tax Credit (LLC) is a great credit to take if you do not qualify for the American

The Tax Credit for the Elderly or Disabled was designed to help the nation’s seniors and disabled taxpayers by reducing their tax bill by an amount up to $7,500. The great thing about this is that it falls under the category of tax credits rather than tax deductions. This means that it doesn’t just reduce

There’s no doubt about it; between diapers and daycare, taking care of a child is not a simple task and is certainly not easy on the wallet. Take into account the cost associated with student loans, and it’s true that children are just plain expensive. Luckily, the government understands this and offers parents certain tax