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.
Long-term capital gains tax basics
Certain windfalls are considered capital gains. Here’s how to determine what you’ll owe.
The average tax refund
The average tax return for the 2020 tax year was $2,827, a 13.24 percent increase from the previous year.
Cryptocurrency taxes: A guide
The IRS is stepping up enforcement on potential tax evasion by looking more closely at who’s exchanging cryptocurrencies.
Latest Tax Credit Articles
Here’s how to get education tax credits if you used a 529 plan
If you plan carefully, you may be able to benefit from a 529 plan and tax credits.3 min read Mar 25, 2022
$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