You're not the only one wondering what is education tax credit? There are many students who are confused about this topic and want to know the same things. Rightfully so, because education tax credits can really benefit you by lowering your overall tax obligation and educational expenses. By reducing the amount of tax owed on your tax return, an education credit helps with the rising costs of higher education. If a credit results in reducing your taxes to less than a zero amount, then you may … [Read more...] about What Is Education Tax Credit?
If you qualify for child tax credit 2016, it will be a direct decrease in your federal income tax obligation. In other words, it will lower the amount that you may be obligated to pay to the government. The credit for 2016 tax returns is up to $1,000 for each qualifying child.
To qualify for the child tax credit, you (and the child) MUST have a tax identification number no later than the due date of your 2016 tax return (this includes extensions). So it's a waste of your time trying to even … [Read more...] about What Is Child Tax Credit?
(2016 Tax Returns)
Earned Income Tax Credit (otherwise known as EITC) is a credit for designed for low to moderate income citizens. A tax credit reduces the taxes you own and could also qualify you for a refund. In order to even have a chance at getting this tax credit, you must file a tax return even if you don't owe the IRS a dime - and even if you're not required to file. The IRS will not come to your door saying "Hey, you've got money!"... Nope, you have to claim it. If you don't ask, you don't … [Read more...] about What Is Earned Income Tax Credit?
A great number of are drawn to the thought of running a business online through the opinion that whatever revenue attained on the web might be exempt from taxation. This however is a widespread disbelief due to the fact those who own internet businesses are still required to pay their taxes. Actually there's been a lot of controversy pertaining to internet businesses and taxation leaving many of the entrepreneurs who begun their online businesses with this particular false notion wishing they … [Read more...] about Will My Online Earnings Be Taxed?
There are many tax deductions that people miss out on during tax season. The following infographic is a visual checklist to highlight tax deductions & credits that you may be eligible for. Note: Although this chart is dated 2012, many of the deductions still remain valid for the 2016 tax season. (Click to Enlarge) … [Read more...] about Infographic: Tax Deductions Checklist
OK so you're wondering "How can I find unclaimed money owed to me?" Well lemme tell ya, you're not alone! There Are Billions of Dollars Unclaimed. Just the sound of that is ridiculous. People leaving money on the table without claiming it, but they can’t be the blame if they don’t know they got a stake in it. If you’re strapped for cash - and even if you’re not - you may have a windfall just waiting to blow your way! How could this be you ask? Well, perhaps you just haven’t claimed it yet. … [Read more...] about How Can I Find Unclaimed Money Owed to Me?
IRS Tax Debt Relief is a situation that requires more guidance than the average tax situation. Perhaps you have fallen behind on your taxes, or have never filed your taxes before - and as a result you have accumulated a substantial amount of tax debt. This can be a real scary situation when the IRS is on your back threatening you, garnishing your wages and making your life a living hell! If you owe $5000, $10,000 or more to the IRS, then chances are high you need something stronger than a … [Read more...] about IRS Tax Debt Relief – Get The IRS Off Your Back!
As a self-employed individual/business owner, you are allowed a laundry list of business tax deductions. These are expenses that are necessary and relevant to your business tax filing. Every tax season business owners (small and large) neglect to maximize their chances of a sizable tax return because they overlook qualified deductions that they could have taken. Remember: "Uncle Sam" is not out to just give money away. But if you claim tax deductions fairly and legitimately, then there … [Read more...] about List of Business Tax Deductions
How much money do you have to make to file taxes?... What is the minimum income to file taxes?... These types of common tax questions have been asked over & over again on search engines and message boards all across the web. It's a Good Question with Multiple Answers. Read on... This article is for US taxes. The requirements will vary depending on 3 Major Factors: Your Age, Filing Status, and Type of Income You Receive. For example: At the end of 2016, if you were single and under … [Read more...] about How Much Money Do You Have to Make to File Taxes? (2016 Tax Return)