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Child Tax Credit

The Child Tax Credit is a credit offered by the IRS that may reduce your tax liability by as much as $1,000 for each of your qualifying children. However, it is important to note that the Child Tax Credit is a nonrefundable credit which...

Can I deduct child support?

No, child support payments are not a deductible expense for the payer nor considered taxable income to the payee ( spouse that receives the child support payments ).

The Military,Tricare and the Affordable Care Act (Obamacare)

TRICARE is a benefit established by law as the health care program for uniformed service members, retired service members, and their families. The Affordable Care Act, signed into law in 2010, was created to expand access to affordable...

Child's Interest/Dividend Earnings (Form 8814)

Form 8814 will be used if you elect to report your child's income on your tax return. If you choose this election, your child will not have to file a return. If your child meets all of the following conditions, you can make this election...

Georgia Adoption of a Foster Child Credit

Georgia provides an income tax credit for the adoption of a qualified foster child. The amount of the credit is $2,000.00 per qualified foster child per taxable year, commencing with the year in which the adoption becomes final, and ending...

NY Long Term Care Insurance Credit – IT-249

If you paid premiums for qualified long-term care insurance, you may claim a credit against your personal income tax equal to 20% of the premiums paid during the tax year for the purchase of or for continuing coverage under a qualifying...

Minnesota Long Term Care Insurance Credit (M1LTI)

You may be able to claim a credit against tax based on any premiums you paid in 2014 for a qualified long-term care insurance policy for which you did not receive a federal tax benefit. To qualify, your long-term care insurance policy must...

What is Minimum Essential Coverage (Obamacare/Affordable Care Act)?

Under the Affordable Care Act, people must have health care coverage that meets a minimum standard called minimum essential coverage; otherwise, they must qualify for an exemption. Minimum essential coverage includes all Government and job...

Do You Have Healthcare Exemptions (Obamacare/Affordable Care Act)?

to affordable coverage based on your projected household income. You are ineligible for Medicaid solely because the State does not participate in the Medicaid expansion under the Affordable Care Act. You have been notified that your health...

How do I claim the Additional Child Tax Credit?

This credit is automatically calculated by the TaxSlayer software based on the information entered in your return. To see the result of your Additional Child Tax Credit, please select "Summary" from the navigation bar followed by "Show