{"id":71,"date":"2014-12-04T14:05:59","date_gmt":"2014-12-04T19:05:59","guid":{"rendered":"http:\/\/blog.etax.com\/?p=71"},"modified":"2014-12-04T14:05:59","modified_gmt":"2014-12-04T19:05:59","slug":"five-credits-shouldnt-overlook","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2014\/12\/04\/five-credits-shouldnt-overlook\/","title":{"rendered":"Five Credits You Shouldn\u2019t Overlook"},"content":{"rendered":"

Not too many things can make you happy when it comes time to pay your taxes. The tax credit can be your friend and ally during tax season, so it\u2019s important to get informed about which credits you may qualify for. Tax credits reduce the amount of tax you are responsible for paying, and some are even refundable. Even if you don\u2019t have to pay any taxes, you can still get a refund if you qualify for a refundable credit. The following five tax credits can help make tax time a little bit friendlier.<\/p>\n

Earned Income Tax Credit<\/b> is available to those who work, but don\u2019t make a great deal of money. It can earn you up to $6,143, and is refundable. Eligibility is based on the total income, filing status, and the number of dependents. Under certain circumstances, single employees with zero dependents can qualify for the credit.<\/span><\/p>\n

Child and Dependent Care Credit <\/b>is offered to those who utilize the services of a day camp or day care to provide child care to children under 13. This tax credit doesn\u2019t just apply to children, and it may be claimed for expenses incurred while caring for a disabled spouse or other dependent adult.<\/span><\/p>\n

Child Tax Credit <\/b>reduces your tax liability by $1,000 for each child under 17 that you claim as a dependent in your household. There are additional eligibility requirements, though this credit can help offset the cost of raising children.<\/span><\/p>\n

The Saver\u2019s Credit <\/b>is available to those who plan for retirement. If you contribute to a retirement plan or IRA<\/a> through your employer, and your income is less than $60,000 a year, you may qualify.<\/span><\/p>\n

American Opportunity Tax Credit <\/b>can help make the four years of college following high school a little bit less expensive. Each eligible student can receive up to $2,500 if they are enrolled at least half-time for a full academic period. This credit requires completion of Form 8863, Education Credits, to be included with your tax return, though you may qualify even if you don\u2019t owe anything.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Not too many things can make you happy when it comes time to pay your taxes. The tax credit can be your friend and ally during tax season, so it\u2019s important to get informed about which credits you may qualify for. Tax credits reduce the amount of tax you are responsible for paying, and some […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[78,50,43,12,58,61,60,134],"class_list":["post-71","post","type-post","status-publish","format-standard","hentry","category-credits-2","tag-american-opportunity-credit","tag-child-care-credit","tag-child-tax-credit","tag-credits","tag-earned-income-tax-credit","tag-eic","tag-eitc","tag-savers-credit"],"yoast_head":"\nFive Credits You Shouldn\u2019t Overlook - 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\/2014\/12\/04\/five-credits-shouldnt-overlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Credits You Shouldn\u2019t Overlook - eTax.com\u00ae Blog\" \/>\n<meta property=\"og:description\" content=\"Not too many things can make you happy when it comes time to pay your taxes. The tax credit can be your friend and ally during tax season, so it\u2019s important to get informed about which credits you may qualify for. 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