There are plenty of tax credits that help you get the maximum money back. Taxman will ensure you are getting the maximum benefits on your tax preparation by calculating the the credits on your tax return.
The earned income credit (EIC) is a tax credit for certain people who work and have earned income under $41,646. A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC may also give you a refund.
If you have children who are under 17 as of the end of the tax year, you can get a $1,000 tax credit per child on your tax return.
If the amount of your Child Tax Credit is greater than the amount of income tax you owe, you may be able to claim some or all of the difference as an “Additional” Child Tax Credit. The Additional Child Tax Credit may give you a refund even if you do not owe any tax. The total amount of the Child Tax Credit and any Additional Child Tax Credit cannot exceed the maximum of $1,000 for each qualifying child.
If you paid someone to care for a child, spouse, or dependent, you may be able to reduce your tax by claiming the Child and Dependent Care Credit on your federal income tax return
The Hope credit and the lifetime learning credit help parents and students pay for post-secondary education. Normally, a taxpayer can claim both his or her own tuition and required enrollment fees, as well as those for a dependent’s college education.
A new Law that went into effect Nov 6 extends the first time homebuyer credit five months and expands the eligibility requirements for purchasers
Working taxpayers may be eligible for the Making Work Pay tax credit, a significant tax provision of the American Recovery and Reinvestment Act of 2009. This tax credit means more take-home pay for millions of American workers