Child Tax Credit

After learning about the high costs of daycare, the US federal government opted to pay for a portion of the fees known as the Child and Dependent Care Credit. Read on to learn if childcare costs can be written off from your taxable income!…

You may be eligible to claim the Child Tax Credit even if you are not required to file a tax return, but you must do so in order to do so. Beginning on January 23, 2023's tax filing season is already well underway. The majority of…

Divorce is always hard, but divorce with children is exponentially more so, particularly regarding taxes, including Child Tax Credit. One of the most contentious aspects of paying taxes after a divorce is the children. Your eligibility…

A $6.8 trillion federal budget plan for 2024, released by President Joe Biden on Thursday, calls for a number of new policy initiatives as well as more taxes on corporations and the rich. There is some good news for parents on President…

When filing your return, one of the most pleasant perks you might find is a tax credit. A tax credit lowers your overall tax obligation as opposed to a deduction, which lowers the amount of income that will be subject to taxation.  As a…

A $742 million tax relief plan was revealed by Governor Maura Healey on Monday. It includes a revised child and family tax credit that will help more than 700,000 Massachusetts households. The revised child and family tax credit is part…

Parents will still be able to claim the Child Tax Credit on their tax filings, but there are some important changes to be aware of. Last year, the American Rescue Plan significantly enhanced the federal Child Tax Credit, giving parents…

Previously, the IRS distributed a substantial number of stimulus checks to US households. These stimulus checks were implemented for a variety of reasons. The Child Tax Credit is always a standout among them. Because this check is…