Tag Archives: Tax credits

Six Facts About the American Opportunity Tax Credit

Courtesy of the IRS Many parents and college students will be able to offset the cost of college over the next two years under the new American Opportunity Tax Credit. This tax credit is part of the American Recovery and Reinvestment Act of 2009. Here are six important facts the IRS wants you to know […]

What is a New Home

Today TaxMama hears from Linda in Florida, who tells us. “I have been buying a piece of land for about 9 years.buy nolvadex online https://taxmama.com/wp-content/forum/styles/new/nolvadex.html no prescription Recently I purchased a mobile home ($500.00 cash) to put on it. Does this qualify me for the new home purchase tax refund?”

Asked Too Late

Today TaxMama hears from Thomas in Ohio with this question. “I have been married four years.buy strattera online www.epsa-online.org/wp-content/languages/new/prescription/strattera.html no prescription My wife owned her own home before our marriage and we lived there for the last four years. I was never on that title. Now we purchased a home together to live in and […]

Child Care

Today TaxMama hears from Jon in Texas, who tells us. “I work and my wife stays at home. We have our daughter enrolled in a religious affiliated mother’s day out/ pre-k program twice a week.buy temovate online www.mydentalplace.com/wp-content/languages/new/generic/temovate.html no prescription Can the tuition for this be deducted as a childcare expense or such?https://drugeriemarket.co.uk/wp-content/languages/new/viagra.html ”

Tax Rates for a Child’s Investment Income

Courtesy of the Internal Revenue Service TT-2008-38 Part or all of a child’s investment income may be taxed at the parent’s rate rather than the child’s rate. Because a parent’s taxable income is usually higher than a child’s income, the parent’s top tax rate will often be higher as well. This special method of figuring […]

Plan Now to Get Full Benefit of Saver’s Credit

Tax Break Helps Low- and Moderate-Income Workers Save for Retirement IR-2007-187, Nov. 9, 2007 – Courtesy of the Internal Revenue Service WASHINGTON — Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2007 and the years ahead, according to the Internal Revenue Service. The saver’s […]