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Tax Credit Consulting: Family Tax Credit Hayden ID

The tax laws have often been used to support social customs that are deemed in the best interest of society. The Government has a stake both in helping families and caring for children.

Brian Burks, MBA
5660 East Franklin Rd. Suite #130
Nampa, ID
Company
Title: Managing Partner
Company: Burks Wealth Management
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
U of Idaho/B.S. - Marketing
Boise State University - MBA
Years Experience
Years Experience: 15
Service
Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Annuities,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Accumulation Planning,Individual Income

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Liberty Tax Service
(866) 871-1040
1735 W Broadway St
Idaho Falls, ID

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Liberty Tax Service
(866) 871-1040
1116 12th Ave S
Nampa, ID

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H&R Block
(208) 238-5958
4240 YELLOWSTONE AVE
CHUBBUCK, ID

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H&R Block
(208) 324-2658
115 W MAIN
JEROME, ID

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Cloverleaf Tax & Business Services
(208) 344-0711
145 E Williams St
Boise, ID
 
Ada Tax Professionals
(208) 377-4303
9140 Ustick Rd
Boise, ID
 
Liberty Tax Service
(866) 871-1040
8065 Fairview Ave
Boise, ID

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Liberty Tax Service
(866) 871-1040
25 S 16th St
Payette, ID

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Boise Tax PRO
(208) 375-1230
1010 N Orchard St Ste 5
Boise, ID
 
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Tax Credit Consulting: Family Tax Credit

Family Tax Credit

The United Kingdom offers several tax credits that are designed for working family and their dependent children. The United States does not have a similar Family Tax Credit, but rather uses the Earned Income Credit for the same purposes.

In the United Kingdom, there is a specific tax credit that is called the Family Tax Credit. It is also known as the "Working family tax credit" and is associated with a Child Tax credit. The United States relies more on the Earned Income Credit (EIC) to deal with the issue of tax relief to low income working families. The Earned Income Credit is just one credit, and indeed deduction, that could be classified under the general heading of Family Tax Credits.

Some States, Minnesota is one; offer a tax credit from State Income Tax that is called a Family Tax Credit. This credit is available for residents who have already qualified and filed for the Earned Income Credit. Other States have various credits that are designed to encourage and support working families or families with special needs.

The tax laws have often been used to support social customs that are deemed in the best interest of society. The Government has a stake both in helping families and caring for children. Children who are properly cared for within a family setting are going to be much less of a social and financial burden on the country than children who become wards of the State. This is why many States offer tax credits that tend to ease the tax burden on families with children.

Many federal tax credits could be considered family tax credits, such as the credit to a business that maintains facilities and staff for employer sponsored child care for working parents. This is just one of many examples of the types of tax credits that have strengthening of families as a goal. This is especially true of working families. The Welfare-to-Work credit is designed with the idea of moving people, even those with children, from the welfare roll...

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