Posts Tagged ‘children tax credit calculator’
Children Tax Credit Calculator
June 11th, 2011
Question: In Florida, can I claim my school expenses like books, calculator, etc as deductions on my taxes?
I’m a full time student and I would like to know whether or not I can claim my books and other school expenses as deductions for my income tax return. I’ve qualified for the hope credit over the past few years as well, but I’m not sure if is still available this year. Does anyone know what the guidelines are or of any other education related credits that I am eligible for? I am a 26 year old independent male, no children, and a full time student of senior status pursuing my Bachelor of Computer Science at an accredited public university. I could seriously use the money, so please don’t hold back on suggestions. Thanks to all in advance!
Answer: The Hope credit was only good for you to get for two years unless you were in a disaster zone.
It’s gone now anyway, and replaced by something called the American Opportunity credit. The Hope Credit was only for tuition and fees, but the AOC also allows required books and supplies. A calculator might be a stretch, but your required textbooks can be included. You can claim AOC for up to four years, including the years you claimed the Hope credit. AOC is good only for undergrad students.
There are a few additional restrictions. See IRS Publication 970 for more info. If you aren’t eligible for AOC you’d probably be eligible for a LIfetime Learning credit for tuition and fees only, not books.
Banks say thanks for the credit
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Austan Goolsbee & the Tax Cut Calculator
Posted in Child Tax Credit | 
Tags: calculator, children tax credit calculator, credit, credit calculator, federal, income, tax, tax-credit | 
No Comments »Children Tax Credit
March 24th, 2009
Question: how much child tax credit do you get for a couple and 4 children and a disabled child?
Answer: There are two levels of the child tax credit. First, if you owe taxes, those taxes are reduced up to $4,000 ($1,000 per child under 17, disabled has no effect on the credit).
Second, if you did not owe enough tax to use up the child tax credit, and you had income over $11,300, then you may get some Additional child tax credit. With three or more children, the Additional child tax credit is limited to the difference of the Earned Income Credit and the Social Security taxes you paid.
Queens woman can marry – after divorce from man who con artist married in her name
A Queens woman can finally get married – now that she’s divorced from a man she never met. Sarah Benitez, 44, had her identity stolen by a Manhattan con artist who claimed her children as dependents to get a tax break.
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