Tax Credits

Electric Car Credit

Did you know that an electric car can get your client a $4000 tax credit?

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What is Earned Income Credit?

Earned income credit is a refundable credit that may be available to your client if he is of lower income and meets certain criteria...more

Child and Dependent Care Expenses

You may be able to claim credit for your client for expenses paid to someone to take care of his child who is under the age of 17 or for his spouse or other dependent, totalling up to $2,400 per year...more

Education Credits

There are two basic credits for education--the Hope Scholarship Credit and the Lifetime Learning Credit. Keep in mind that these credits reduce your client's taxes dollar for dollar...more

What is Mortgage Interest Credit?

There is a governmental program to provide taxpayers with financing to buy them a principal residence. This must be used in regards to the purchase, rehabilitation or home improvement of your client's main home.

Child Tax Credit: How Does it Work?

You can claim a credit for each child your client has under the age of 17 provided that his income is in a certain range. To compute this credit, more...

Choosing Credit or Deduction for Income Earned Overseas

If you paid or accrued foreign taxes to a foreign country on income that was generated from a foreign source and are subject to US tax on the same income, you may be able to take either a credit or an itemized deduction for those taxes. The difference between taking the amount as a deduction or as a credit is rather simple. Find out which can save you more money.

Adoption Credit

Your client may be eligible for a tax credit of up to $5,000 to $6,000 for the adoption of a child. The child must be...

Qualifications to Recieve the Work Oppurtunity Tax Credit

This credit provides an incentive to hire individuals from targeted groups that have a particularly high unemployment rate or other special employment needs. This credit is equal to 40% of the first $6,000 of qualified first-year wages for each employee?

Tax FAQs

Tax Credit FAQs

Do you know which credits you apply for your clientele? There may be more than you think. Browse our total list of credits to find out.