Articles
To stimulate home sales, Congress established the first-time homebuyer credit in 2008, modified it for 2009 (through November 30, 2009), and then extended it again through the middle of 2010 (2011 for certain service members), resulting in some complic...
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“Making Work Pay” credit provides a refundable credit of 6.2% of a taxpayer’s earned income not to exceed $400 for individuals and $800 for joint filing couples. Eligible individuals will receive an income tax credit for two yea...
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“Making Work Pay” credit provides a refundable credit of 6.2% of a taxpayer’s earned income not to exceed $400 for individuals and $800 for joint filing couples and applies only to 2009 and 2010. This credit redu...
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There are a number of tax credits that are available to individual taxpayers and small businesses. Unlike tax deductions which reduce your taxable income, tax credits reduce the actual tax dollar for dollar. This section includes the m...
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To stimulate home sales, Congress first established the first-time homebuyer credit in 2008, then modified it for 2009 (through November 30, 2009), and then extended it again through the middle of 2010 (2011 for certain service members) resulting in so...
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Employers can qualify for a tax credit for qualified wages paid to members of targeted groups. The credit, except for long-term family assistance recipients and summer youth employees, equals 40% (25% for employment of 400 hours or less) of q...
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Tax Credit for Residential Energy Improvements - A reduced credit for home energy-savings improvements is available for 2011. The credit generally equals 10% of a homeowner’s cost of eligible energy-saving improvements, up to a maximum lifeti...
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There are a number of tax credits that are available to individual taxpayers and small businesses. Unlike tax deductions which reduce your taxable income, tax credits reduce the actual tax dollar for dollar. This section in...
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To stimulate home sales, Congress first established the first-time homebuyer credit in 2008, then modified it for 2009 (through November 30, 2009), and then extended it again through the middle of 2010 (2011 for certain service members) resulting in so...
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The EITC is for people who work, but have lower incomes. If you qualify, it could be worth up to over $5,700 for 2011. So, you could pay less federal tax or even get a refund. The credit is a refundable credit, so you can receive the benefits of th...
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