Learn About Tax Credits

It's a good thing most of us only have to file taxes once a year. With all of the confusing terms, complex language, and mind-numbing math, it's as if the people who write the tax code just wanted to bore us and trick us into a mistake or two. Eve...

As we all know, deductions and credits are two very important ways to reduce your overall tax liability. Every April, we scramble to find more and more deductions and credits so that we can pay the Tax Man less and less. But which one is best? Which ...

It's a good thing most of us only have to file taxes once a year. With all of the confusing terms, complex language, and mind-numbing math, it's as if the people who write the tax code just wanted to bore us and trick us into a mistake or two. Eve...

If you adopted a child recently, qualified expenses related to the adoption have reverted back to being a nonrefundable tax credit. The credit was refundable for tax years 2010 and 2011. The tax adoption credit is a maximum of $12,650 per child for t...

The Child Tax Credit is a tax credit you can claim for each child depending on your income. You may be able to claim up to $1,000 per qualifying child under 17 years old. This tax credit can be claimed in addition to credit for child dependent care e...

The earned income tax credit (EITC) is an incentive to work for low to moderate income individuals and families. The earned income credit is refundable, which means that even if you don't owe any taxes, you can still get a refund. 2012 Earned ...

Unlike a rebate, you don't receive money back when you buy an energy efficient product. You claim the tax credit on your federal income tax at the end of the year. The credit increases your tax refund or reduces the amount you have to pay. Improvemen...