{"id":1149,"date":"2018-01-20T00:22:36","date_gmt":"2018-01-20T05:22:36","guid":{"rendered":"https:\/\/www.etax.com\/blog\/?p=1149"},"modified":"2019-07-09T15:48:59","modified_gmt":"2019-07-09T19:48:59","slug":"important-tax-credits-2017-families","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2018\/01\/20\/important-tax-credits-2017-families\/","title":{"rendered":"Important Tax Credits For 2017 Families"},"content":{"rendered":"<p class=\"p1\"><span class=\"s2\">The Child Tax Credit can save parents up to $1,000 per child based on income. Higher income families are entitled to a smaller credit, as the IRS reduces the credit at modified adjusted gross income of $110,000 for joint, married taxpayers. <\/span><\/p>\n<p class=\"p3\"><span class=\"s2\">The Child and Dependent Care Credit is an excellent way to recover some expenses incurred for qualified supervision of your dependents while you work an earn a living. This credit covers a certain percentage of a maximum of $3,000 in expenses such as daycare fees for a single qualified person\u2019s care, and up to $6,000 for the care of two or more people. Qualified dependents include children under the age of 13, a spouse or parent who is unable to care for themselves, and certain other dependents. Determined by your income, the percentage ranges between 20% and 35%. Quick breakdown: Filers with AGI of $15,000 or less are entitled to a credit covering 35% of their expenses. Every additional $2,000 of AGI decreases the credit percentage by one, meaning those who have an AGI of over $43,000 are able to claim a 20% expense credit. If you paid the expenses with a specific flexible spending account or advantageous tax program through your work, your credit may be smaller. <\/span><\/p>\n<p class=\"p3\"><span class=\"s2\">The Earned Income Tax Credit can save you between $3,468 and $6,444 in 2017, and is related to the size of your family, including children and dependents, your income, and your marital status. Families with an AGI of less than $55,000 should seriously consider their eligibility for the credit. However, investment income and other factors affect qualifying for the credit \u2013 in 2017 you have to have less than $3,500 in investment income, dividends or <a href=\"https:\/\/www.etax.com\/blog\/2025\/07\/15\/how-to-pay-0-capital-gains-tax-in-2025-and-make-over-100k-doing-it\/\">capital gains<\/a>. If you don\u2019t have children, you may still be entitled to up to $520 from this credit if you file Single and have an income less than $15,310 in 2017 or jointly at $21,000.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Child Tax Credit can save parents up to $1,000 per child based on income. Higher income families are entitled to a smaller credit, as the IRS reduces the credit at modified adjusted gross income of $110,000 for joint, married taxpayers. The Child and Dependent Care Credit is an excellent way to recover some expenses [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1506,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[512,43,58],"class_list":["post-1149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credits-2","tag-child-and-dependent-care-credit","tag-child-tax-credit","tag-earned-income-tax-credit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Important Tax Credits For 2017 Families - eTax.com\u00ae Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etax.com\/blog\/2018\/01\/20\/important-tax-credits-2017-families\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Important Tax Credits For 2017 Families - eTax.com\u00ae Blog\" \/>\n<meta property=\"og:description\" content=\"The Child Tax Credit can save parents up to $1,000 per child based on income. 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