The “Earned Income Tax Credit”
The “Earned Income Tax Credit” also-known-as the EITC is a credit meant to help those who make very little income. The government offers those citizens a chance to keep a little bit of extra money in their pockets by lowering their tax obligations. However, there are a few stipulations to receiving this credit. You must, of course, have a valid U.S. social security number and have earned income for the year, whether it be in self or regular employment. You must also be filing as an individual (those who are married but filing separately do not qualify) and not be claimed as a...
read moreThe “Make Work Pay Credit”…what it means for you
We have all heard the word “stimulus” and a lot of us get a little happy feeling inside knowing that you are going to be getting back some of your hard earned money. This term is getting thrown around a lot, especially when it comes to our new President, Barack Obama. This week (January 12th) the House Democrats have been working on an 825 billion dollar bill called the “American Recovery and Reinvestment Bill” that will have a mixture of spending and tax relief for U.S. citizens. Since taxes is what we do here, we are going to focus on the most important piece...
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