Tax Credits
A tax credit is an incentive that lets a taxpayer reduce the total amount of tax owed. Find out which tax credits are available to you.
Tax Basics
Latest Tax Credit Articles
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Can I get an education tax credit if I paid with a 529 plan?
If you plan carefully, you may be able to benefit from a 529 plan and tax credits.
4 min read Nov 11, 2024 -
$4,000 travel tax credit? Here’s how the ‘Explore America’ stimulus proposal could fund your next vacation
Here’s what a proposed tax credit for travel could mean for you.
4 min read Jun 24, 2020 -
The ultimate guide to saving on child care
To get help with costs, tap resources, including the government, your employer and day care agencies.
4 min read Apr 30, 2018 -
Do you qualify for the lifetime learning credit?
Did you know you can save on taxes if you qualify for the lifetime learning credit?
3 min read Nov 14, 2017 -
The earned income tax credit a boon for those who qualify, but it’s complicated
The earned income tax credit could wipe out your tax bill plus get you a refund.
4 min read Mar 16, 2017 -
Tax credits help with higher education
Families can get help via the American opportunity and lifetime learning tax credits.
3 min read Mar 10, 2017 -
Tax breaks for the unemployed
While unemployment benefits are taxable, jobless folks may enjoy some tax breaks.
3 min read Mar 06, 2017 -
Adopt a child? Be sure to adopt the tax breaks the IRS has for adoptive parents
Raising a kid is costly, but for adoptive parents, the IRS offers a big tax break.
4 min read Mar 02, 2017 -
6 ways the IRS helps pay for education via tax-favored savings plans, other tax breaks
These tax breaks can help reduce college costs, and one even helps younger students.
4 min read Feb 20, 2017 -
Make sure your children are a credit to you by claiming the child tax credit
At tax time, parenthood can be a rewarding experience when claiming the child tax credit.
3 min read Feb 14, 2017 -
New tax exemption amounts for 2016 tax returns
Exemptions are like deductions. You can claim $4,050 each for yourself and family members.
1 min read Jan 09, 2017 -
Work Opportunity Tax Credit: What it is and how it helps veterans and employers
The Work Opportunity Tax Credit helps veterans and certain other workers land jobs.
5 min read Aug 08, 2016 -
Residential energy-efficient property credit: Does building green garage qualify?
The garage construction doesn’t qualify for the energy tax credit, but these things do.
2 min read Aug 02, 2016 -
Tax rules on renting your vacation home
Want to put your vacation home to work? Rent it. Just make sure you follow the IRS rules.
5 min read Jul 27, 2016 -
Avoid capital gains tax on rental property by moving profits into kids’ college fund?
You can’t avoid tax on the rental property sale, but other tax benefits may even things out.
2 min read Jul 12, 2016 -
Get a break now from the IRS for saving for retirement
For lower-income filers, money put away for retirement could cut today’s tax bill.
4 min read Mar 31, 2016 -
Qualifications for earned income credit: Low-income worker loses job, needs a break
The Earned Income Tax Credit can get you more money than you paid all year.
2 min read Mar 15, 2016 -
Your foreign stepchildren may be qualifying relatives for tax purposes
You may be able to claim exemptions for your stepchildren from Mexico. Here’s how.
3 min read Mar 01, 2016 -
Can I defer passive activity loss to next year if earnings are too high?
You can only deduct real estate losses to offset gains, but there are a couple of exceptions.
2 min read Feb 16, 2016 -
How do heirs calculate tax due on land conveyed via a ‘Lady Bird deed’?
A ‘Lady Bird deed’ is a popular estate planning tool with tax and other advantages.
3 min read Dec 08, 2015