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Posts Tagged ‘earned income tax credit’
9 Tax Breaks Parents Should Know About
Parents, with a little tax and financial planning, can save more on future expenses, such as college. Tax breaks available to dependents are a great way to realize savings. For medium- and low-income families, these saved dollars can mean providing better care to their children during their adolescent years. “Having kids will enrich your life but not your bank account. Parents need to save every penny. But the good news is that Uncle Sam can help." ...
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What is The EITC and Why is it a Common Cause of Tax Debt?
The Earned Income Tax Credit (ETIC), also known as the Earned Income Credit (EIC) is a refundable tax credit that provides benefits to working individuals with moderate income. As with every other credit, the EITC reduces the total tax liability of the taxpayer. Even if the taxpayer does not owe taxes, they can get a refund if they file a tax return and claim the EITC. Qualifying Requirements To qualify for the EITC, you need to fulfill ...
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