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Tax Credit Consulting: The Child Tax Credit Henderson NV

The children in question would have to have lived with you for at least half of the year as well. There are some exceptions to these criteria. There is also a phase out income level.

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10620 So. Highlands Pkwy
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Ovist & Howard, CPAs
(702) 456-1300
7 Commerce Center Dr Ste
Henderson, NV
 
Garrett Cooper Associates, Inc.
(702) 719-1560
320 S Boulder Hwy Ste 105-106
Henderson, NV
 
Instant Tax Svc
(702) 823-4637
834 S Boulder Hwy
Henderson, NV

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Taxing Times
(702) 645-6617
3510 E Tropicana Ave
Las Vegas, NV

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ACL TAX SERVICES
(702) 331-9157
325 N GIBSON ROAD
HENDERSON, NV
 
L. A. Salo, CPA, Ltd.
(702) 898-1280
2625 Wigwam Pkwy Ste 106
Henderson, NV
 
Mc Connell Tax Svc
(702) 564-2602
101 W Atlantic Ave
Henderson, NV

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Steve Tax Svc
(702) 733-1654
3175 E Warm Springs Rd
Las Vegas, NV

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E-File Tax Svc Of Nevada Inc
(702) 696-9549
3756 E Flamingo Rd
Las Vegas, NV

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Tax Credit Consulting: The Child Tax Credit

The Child Tax Credit

The Child Tax Credit allows you the possibility to reduce your Federal tax liability by $1000 for each qualifying child under the age of 17.

The Child Tax Credit

In order to claim the Child Tax Credit, the child in question must be under the age of 17 as of the end of the tax year. They also must be a son, daughter, adopted child, stepchild, or eligible foster child. They could also be the descendents of any of those which would mean grandchildren. They must be citizens of the United States or resident aliens. You have to have provided at least half of the support for them.

The children in question would have to have lived with you for at least half of the year as well. There are some exceptions to these criteria. There is also a phase out income level. The phase out income level is the point where the percentage of the credit begins to decline until it is no longer allowed. For a married couple filing jointly this phase out level is $110,000 of adjusted gross income. It is $55,000 for married filing separately and $75,000 for all others.

Although you can only take a credit up to the amount of actual tax owed, it is possible to take any amount that is left over as an Additional Child Tax credit. This is a refundable credit. It means that if your credit exceeds the amount of tax you owe, you will get a refund of the difference. You get this refund regardless of the amount of money that has been withheld from your pay.

The total of the Chi...

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