The Federal Tax Credits Blog

Posts Tagged ‘tax child credit 2010’

Question: Why do Obamabots still believe the middle class and poor will get tax cuts?

Obama has promised everyone making under $250k that they’ll get a tax cut. We know politicians lie though, and here is an obvious example. The $1000 per child tax credit families use to put more money in their pocket will expire in 2010 and Obama has promised to not renew it. A tax credit is much better than a tax cut! In 2010 poor and middle class families will actually lose the $1000 per child credit in essence raising their taxes dramatically! Even if Obama cut their tax rate they will still lose out on more money (slight of hand/smoke and mirrors/lies/whatever you want to call it).

Answer: When the Bush tax cuts expires in 2010, everyone including those making less than $250K will enjoy a tax hike.

Not to mention the tax added to electricity, natural gas, or auto registrations.

School expenses may qualify for tax credit

With the arrival of August, families with school-aged children are paying school registration fees and starting to buy school supplies.

2010, 2011 child tax credit Amount

Question: im trying to find a way to get additonal child tax credit my huband made 5,000 in intrest income?

this year before we married he cashed out for a house. i have 5 kids and made 5,000 out of luck for earned income credit but want to get additional child tax credit any ideas?

Answer: Additional child tax credit is based on earned income.

*IF* you owe zero tax and there is child tax credit left over, you do form 8812 to see if you can get any additional child tax credit.

Eg, if the child tax credit was $3000 and you used $2000 to reduce your tax bill, $1000 could be left. Then you do the form.

If your earned income is more than $11750, it might get you some of it.

Child fitness tax credit little used by poor families, study finds

Canada’s fitness tax credit does little to encourage physical activity among kids from low-income families who can’t afford to pay registration fees, a new study says.

What’s the child tax credit in 2008 and How Do I Qualify?