eligibility
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Non-refundable Tax Credits
- February 23, 2022
- Posted by: CKH Marketing
- Category: Tax tips
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Non-refundable Tax Credits are basically tax credits that can only reduce a taxpayer’s liability. Any remaining amount from the credit is automatically forfeited by the taxpayer. These credits are also referred to as a “wasteable” tax credit, unlike refundable tax credits.
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Understanding Refundable Tax Credits
- February 15, 2022
- Posted by: CKH Marketing
- Category: Tax tips
A refundable tax credit can be applied to your tax bill and in some cases can generate a negative federal tax liability, meaning that your refundable tax credit can create a federal tax refund. For example, if you owed $1,000 in taxes and qualify for a $1,200 refundable credit, you would receive a $200 refund.
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New 2022 Tax Brackets
- January 20, 2022
- Posted by: CKH Marketing
- Categories: Current Events, Tax tips
On November 10th, 2021 the IRS announced their annual inflation adjustments to the 2022 federal income tax brackets. These adjustments impact more than 60 tax provisions. Here are the new numbers.
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All About the Child and Dependent Care Credit
- December 17, 2021
- Posted by: CKH Marketing
- Category: Tax tips
The Child and Dependent Care Credit is a helpful refundable tax credit that assists families in paying for childcare. The credit specifically offers relief to parents who pay for the care of a qualifying child while they work or search for work. The amount of eligible expenses that qualify for the credit varies depending on a taxpayer’s income level.
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Employee Retention Credit
- September 8, 2021
- Posted by: CKH Marketing
- Categories: COVID-19 Information, Current Events
The Employee Retention Credit (ERC) was put into place in March of 2020 under the CARES act as a temporary response to the impacts of the Coronavirus. This refundable tax credit was originally set to help companies keep employees on payroll.
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Everything You Need to Know About the Child Tax Credit
- May 25, 2021
- Posted by: CKH Marketing
- Categories: Current Events, Financial Tips
What do the new advance child tax credit payments mean? Here is everything you need to know about what is changing, who is eligible, and how to receive the payments.
