Tax Credits

Adoption Credit

You 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...more...

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Electric Car Credit

Did you know that an electric car can get you a $4000 tax credit? ...more

What is Earned Income Credit?

Earned income credit is a refundable credit that may be available to you if you are of lower income and meet a certain criteria...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 taxes dollar for dollar...more

What is the 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 main home.

Child & Dependent Care Expenses

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

Qualifications to Recieve the Work Opportunity Tax Credits

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?

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.

Child Tax Credit: How Does it Work?

You can claim a credit for each child you have under the age of 17 provided that your income is in a certain range. To compute this credit...

Tax FAQs

Tax Credit FAQs

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