Tax Credits
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.
Tax Basics
Latest Tax Credit Articles
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Sales tax holiday in South Carolina
South Carolina’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.
1 min read Jul 22, 2015 -
Sales tax holiday in Tennessee
Tennessee’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.
1 min read Jul 22, 2015 -
Sales tax holiday in Missouri
Missouri’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.
1 min read Jul 22, 2015 -
Home sweet homeowner tax breaks
Owning a home offers lots of benefits, including ways to reduce your tax bill.
7 min read Jul 15, 2015 -
Must pay back first-time homebuyer credit?
Due to your circumstances, you may not have to repay the first-time homebuyer tax credit.
3 min read Mar 03, 2015 -
Used capital loss carryover. Do I owe tax?
Just because you used up that loss doesn’t mean your tax bill will rise sharply.
2 min read Feb 05, 2015 -
Hire a pro to find missed tax breaks?
Here’s how to find a tax pro who can determine if you missed out on some tax breaks.
2 min read Jan 20, 2015 -
Health care tax credit glitch for filers
Taxpayers who received an Obamacare tax credit may be shocked at filing time.
4 min read Jan 06, 2015 -
Basis for depreciation on rental property
Here’s how to figure the basis for depreciation of the home you are converting to a rental.
2 min read Nov 18, 2014 -
The skinny on reverse 1031 exchange rules
There’s a way to buy a property before selling your 1031 like-kind exchange, but be careful.
2 min read Oct 02, 2014 -
How to dispose of a 1031 exchange
You accounted for the 1031 property when you acquired it, so the IRS knows about it.
2 min read Apr 29, 2014 -
Can I claim Mom as a dependent?
You have to meet certain tests to claim your mother as a dependent on your taxes.
2 min read Apr 03, 2014 -
Claiming an energy tax credit for new roof
You may qualify for a tax credit of up to $500 if your roof meets certain energy requirements.
2 min read Mar 27, 2014 -
Proof needed to claim earned income credit
The IRS requires tax preparers to furnish proof of a child’s residency to claim the EITC.
2 min read Mar 18, 2014 -
Benefits of contributing to a 403(b) plan
You enjoyed the benefits while you were working, but now in retirement it’s time to pay taxes.
2 min read Jan 28, 2014 -
The tax joys of parenthood
Children are expensive. But parents can take advantage of several child-related tax breaks.
4 min read Jan 01, 2014 -
Homebuyer tax credit claims and payback
Some taxpayers will have to claim the first-time homebuyer credit or begin paying it back.
4 min read Feb 21, 2013 -
What makes up the ‘fiscal cliff’?
Expiring tax breaks and spending cuts may create an avalanche of revenue, but look out!
Dec 17, 2012 -
Taxes: Cost of being a professional athlete
Did you know pro athletes have to file taxes in 10 to 26 places? See what the ‘jock tax’ costs.
5 min read Mar 15, 2012 -
Small-biz tax write-offs
Do you know which tax write-offs you can claim being a small business?
1 min read Feb 22, 2012