Posts Tagged ‘tax credits’
VW tax credits cost Uncle Sam millions
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate Volkswagen marketed its diesel-fueled autos as high performance, super clean and environmentally friendly. Those promises were enough to convince tens of thousands of car buyers. The claims also got…
Read MoreSmall Business Health Care Tax Credits
Westchester NY accountant Paul Herman has all the answers to your personal finance questions! Small Business Health Care Tax Credit Changes to the SBHCTC beginning in 2014: The credit increases to 50 percent for small businesses and 35 percent for tax-exempt employers. You must purchase insurance for your employees through SHOP.* The credit is only available to…
Read MoreMake Sure You’re Informed About the Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is a refundable federal income tax credit for low to moderate income-earning individuals and families. If you qualify, the credit could be a maximum amount of up to $6,044 in 2013. This means you could pay less or no federal tax or even get a refund.
Read MoreAmerican Opportunity Credit Helps Pay for First Four Years of College
More parents and students can use a federal education credit to offset part of the cost of college under the American Opportunity Credit. Income guidelines are expanded and required course materials are added to the list of qualified expenses. Many of those eligible will qualify for the maximum annual credit of $2,500 per student.
Read MoreEITC and Other Tax Credits: Are You Eligible?
The Earned Income Tax Credit (EITC) is for working individuals who do not earn high incomes. Taxpayers who qualify and claim the credit could pay less or no federal tax, or even get a tax refund.
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