by Arthur Geffen | Mar 3, 2022 | EITC, Income Tax, Income Tax Credits
This Fact Sheet provides frequently asked questions (FAQs) for Tax Year 2021 Earned Income Tax Credit. More people without children now qualify for the Earned Income Tax Credit (EITC), the federal government’s largest refundable tax credit for low- to...
by Arthur Geffen | Jan 28, 2021 | Income Tax Credits
The Earned Income Tax Credit (EITC) or Earned Income Credit (EIC) is a refundable tax credit targeted to working people with low to moderate income. A refundable credit means that you can take advantage of the credit even if you do not owe any tax. Unlike with a...
by Arthur Geffen | Dec 16, 2020 | Income Tax, Income Tax Credits
When people get ready to file their federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive. Here are some new key things people...
by Arthur Geffen | Feb 12, 2020 | Income Tax, Income Tax Credits
What is Section 179, and how does it benefit businesses? Section 179 is a tax incentive that allows small businesses to write off the entire purchase price of qualifying equipment in the year it was purchased. If a business bought a piece of equipment before...
by Arthur Geffen | Sep 5, 2018 | Income Tax, Income Tax Credits
This year, millions of American families can enjoy a $2,000-per-child break under age 17 tax break with the expansion of the child tax credit, according to this article from The Wall Street Journal. In addition, the overhaul even raises the full credit income...
by Arthur Geffen | Dec 3, 2014 | Income Tax Credits
Do you agree with this or not? While most of the tax drama these days is focused on the fate of 50+ mostly-business tax breaks that expired nearly a year ago, lawmakers are also debating two provisions that are enormously important to low- and moderate-income...
