Home Purchase Tax Credit

  • Married And Filing For The Earned Income Tax Credit
    When trying to qualify for the earned income tax credit you or your spouse must satisfy the age test if filing a joint tax return. You can not be a dependent of another taxpayer, and are not a qualifying child of another taxpayer. If married and filing a joint tax return you must include your social security number on your IRS tax return and that of your spouse. Married couples who file separate returns are not eligible for the earned income credit. If you are married, but your spouse did not l Read More...
  • Getting a Tax Credit for Your Kids
    As you know, raising a family is a full time job and can put stress on your finances. Fortunately, you can claim a tax credit to help cut your IRS bill if you have kids. Getting a Tax Credit for Your Kids With a tax deduction, you are reducing the total amount of adjusted gross income you have. For instance, if you earned $50,000 dollars in 2005 and take a $1,000 deduction for something, youÂ’ll have to pay tax on $49,000 dollars in earnings. Put another way, the $1,000 tax deduction will save Read More...
  • IRS Issues Tax Credit Amounts For GM Trucks
    As 2006 rolls along, the IRS is in the process of issuing tax credit amounts to particular hybrid vehicles. The agency has just issued the amounts for a number of GM vehicles. As part of the Energy Policy Act of 2005, the tax advantages of owning a hybrid vehicle have been seriously upgraded. Prior to the Act, a person that purchased such a vehicle could claim a tax deduction of up to $2,000. While this was nice, the new Act changed the deduction into a tax credit. Tax credits are far better th Read More...
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