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Tax Credit Consulting: The Child Tax Credit Washington DC

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.

Joseph Bonaccorsy
2011 Crystal Dr.
Arlington, VA
Company
Title: Financial Advisor
Company: Core Advisory, LLC
Type
Registered Investor: Yes
Education
Florida Tech /CFP
American Intercontinetal/BA - Maga Cum Laude
Institute of Business Finance/MSFS
Years Experience
Years Experience: 15
Service
Wealth Management,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Stock Market Alternative,Disability Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribu

Data Provided by:
Barbara J. OLeary (RFC®), CEP
(703) 370-7666
101 South Whiting Street Suite 203
Alexandria, VA
Qualifications
Years of Experience: 18
Membership
IARFC, NICEP
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Healthcare Accounts, Compensation Plans

Data Provided by:
B. Frank Doe (RFC®), CFP, MBA
(703) 272-7177
10560 Main Street, Suite 316
Fairfax, VA
Company
Frank & Darby Doe
Qualifications
Education: MBA
Years of Experience: 33
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Annuities

Data Provided by:
Express Tax Svc
(202) 332-0400
1541 7th St NW
Washington, DC

Data Provided by:
Multistate Tax Commission
(202) 624-8699
444 N Capitol St NW Ste 425
Washington, DC

Data Provided by:
Charles Stough
1940 Duke St, Suite 200
Alexandria, VA
Company
Title: LPL Wealth Planner
Company: WealthPath LLC
Type
Investment Advisor Rep: Yes
Education
University of Oklahoma/MHR
University of Florida/BA
Years Experience
Years Experience: 7
Service
Pension for Highly Compensated Owners,Income for Life/ Preserve Principal,Alternative Investments,Retirement Planning,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Annuities,Alternative Asset Class Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planni

Data Provided by:
Mr. Vijay K. Khetarpal (RFC®), CFP, CHFC, CLU
(703) 356-4888
8607 Westwood Center Dr #300
Vienna, VA
Company
Integrity Financial Group, LLC
Qualifications
Education: B.A (Honors) Economics, St. Stephens College, DelhiAll India HS Humanities, Mayo College, Ajmer
Years of Experience: 27
Membership
IARFC, MDRT, FPA, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Martin J. Beeson (RFC®), CEP, CSA
(866) 388-0110
2135 Defense Hwy Ste 6
Crofton, MD
Company
The Planning Companies
Qualifications
Years of Experience: 19
Membership
IARFC, NICEP
Services
Invoice, Estate Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell

Data Provided by:
Ari Group Llc
(202) 723-5059
1731 7th St Nw
Washington, DC

Data Provided by:
Atab Tax Service
(202) 829-2822
536 Columbia Rd Nw
Washington, DC
 
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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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