Blog

The new “extenders law” enacted late in 2015 retains several key tax provisions and makes them permanent with certain modifications. One of the most important ones to middle class families is the child tax credit. It can costs hundreds of thousands of dollars to raise a child these days, but at least the tax law provides several benefits to parents. One such tax break, the child tax credit,...

In simpler times, all you needed to welcome a new baby into your family was love and an empty drawer in which he or she could sleep. In 2015, babies are expensive and modern parents need a lot of gear: diapers, cribs, strollers and car seats—not to mention child care. The list can seem endless. And, it all adds up fast. The good news is, there are more ways than ever to offset the considerable...

The Child Tax Credit may save you money at tax-time if you have a qualified child. Here are the top things you should know about the credit. Amount. The Child Tax Credit may help reduce your federal income tax by up to $1,000 for each qualifying child that you are eligible to claim on your tax return. The Child Tax Credit is generally limited by the amount of the income tax you owe as well as any...