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Nov 23, 2020How to get prior year state tax information
If you have not yet filed your state return for prior year tax returns, you must obtain them. Your prior year state tax information such as your withholding is located on your income statements. For example, on your W-2 statement, the state tax amount is in box 17. This is the total amount of state […]
adminNov 23, 2020Preparing a State Return
You may wonder, “how do I file my state tax return?”. With our website, the only information you need are your state withholding amounts. This can be found on your income statements such as your W-2 in box 17. We will use the income statements as well as your state info tab for additional information […]
adminNov 20, 2020Child Tax Credit (CTC)
If your child is under 17, you may qualify for the Child Tax Credit (CTC). You can also receive a part of the credit which is refundable called the Additional Child Tax Credit (ACTC). In order to receive the CTC, your qualifying child must have a social security number. After tax year 2018, taxpayers can […]
adminNov 20, 2020Dependent Care Credit
If you paid child care expenses for a qualifying individual in order for you and your spouse to work or look for work, this credit is for you. You cannot take this credit if your filing status is married filing separately. Your total expenses can’t be more than $3,000 per qualifying individual. As long as […]
adminNov 20, 2020Health Coverage Tax Credit (Form 8885)
If you and your family are paying premiums for qualified health insurance programs, you may be eligible for this credit. This credit is available from 2002 to 2013 and extended for 2019. The Health Coverage Tax Credit (HCTC) is a tax credit for taxpayers who are atleast 55 to 65 years of age who paid […]
adminNov 20, 2020Prior Year Minimum Tax Credit (Form 8801)
This credit is a nonrefundable credit If you paid the Alternative Minimum Tax (AMT) in a previous tax year. However, you can only claim this credit in the year when you don’t have to pay the AMT. There is an option for a credit carry forward for future years, but there isn’t one to reduce […]
adminNov 20, 2020Mortgage Interest Credit
This credit is targeted to lower income individuals to assist them in affording homes. You must first have a qualified Mortgage Credit Certificate (MCC) from your state or local Housing Finance Agency when you purchased your main home. You may qualify if you paid $2,000 per year. You can claim both the mortgage interest deduction […]
adminNov 20, 2020First Time Homebuyer Credit Repayment
If claimed the First-Time Homebuyer Credit, you may have to make an annual repayment installment. This is located on your 2011 tax return. You can use the IRS.gov website to check your repayment obligation. You will need your social security number, date of birth, and complete address. As a reminder, the repayment is for people […]
adminNov 20, 2020First Time Homebuyer Credit
The first time home buyer credit (Form 5405) was for taxpayers who purchased homes between April 8, 2008 to September 30, 2010. This credit is not available for those who purchased homes after 2010. Although this credit ended in 2010, those who bought homes before then can still claim the credit. You can claim this […]
adminNov 20, 2020Residential Energy Property Credit
You can claim the residential energy property credit if you made energy saving improvements to your main home located in the United States. Here are some examples of qualified properties: solar electric property solar water heaters geothermal heat pumps small wind turbines fuel cell property (this is limited to $500 per each half kilowatt of […]
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