Earned Income Tax Credit

Earned Income Tax Credit

Changes to the Earned Income Tax Credit for 2012 include new requirements for you and your tax preparer. These changes could cause a delay up to 75 days in your tax refund. The "preparer's checklist" is at http://www.irs.gov/pub/irs-pdf/f8867.pdf (PDF file), and page four has the new documentation check the preparer must certify. For more information, talk to your tax professional or check with us at http://acumentaxservice.com

How The Child Tax Credit Works

How The Child Tax Credit Works

In this video, I break down the “ins” and “outs” of the Child Tax Credit and how to get it. I cover what the tax credit is, why it was made available, the seven requirements, income limits, and what you have to do to get it. What is the Child Tax Credit? In short, the Child Tax Credit is intended to offset the many expenses of raising children. The credit offsets your tax liability dollar-for-dollar. Seven requirements: 1. Your dependent has to be either your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half brother, half sister, or a descendant of any of them (for example, your grandchild, niece, or nephew), 2. Your dependent has to have been under age 17 at the end of 2016, 3. Your dependent did not provide over half of his or her own support for 2016, 4. Your dependent lived with you for more than half of 2016, 5. Your dependent is claimed as a dependent on your return, 6. Your dependent did not file a joint return for the year (or files it only to claim a refund of withheld income tax or estimated tax paid), and 7. And, finally, your dependent was either a U.S. citizen, a U.S. national, or a U.S. resident alien. Income limits: If you’re a married couple filing separately, then the phase out threshold is $55,000. If you’re filing as single or as head of household, then the phase out threshold is $75,000. If you’re a married couple filing jointly, then the phase out threshold is $110,000. Example 1 Let’s say that you’re married and you’re filing jointly and you and your spouse earned a combined $120K. That’s going to place you in the 28% tax bracket which means that you’re going to owe roughly $33,600 in taxes. Now let’s also say that you have two kids and so you can receive a max tax credit of $2K. However, since you’re married and filing jointly, the phaseout threshold is $110K and so for every thousand over $110K we’re losing $50. Therefore, the maximum credit we can receive is $1500. So now we apply our tax credit to our tax liability and we’re left owing $32,100. Example 2 From working at a hotel, you earned $20K during 2016 therefore your tax rate is about 15% which means that you owe about $3K in taxes. Let’s say that you have 4 kids which means that you can potentially get a max credit of $4K. Now because your tax credit is greater than the amount of taxes that you owe, your tax liability is $0. So in this instance where your tax credit is greater than your tax liability, you can get the remaining tax credit, in this case $1K, by taking advantage of the Additional Child Tax Credit. The Additional Child Tax Credit is 15% of earned income greater or equal to $3K. And since we earned $20K from working at a hotel, we’re entitled to an additional child tax credit of 15% of $17K or $2,550. But since we only have $1K left until we’re maxed out, we don’t get the full $2,550 but only the $1K. ★★★ APP ★★★ www.buildyourtomorrow.com ★★★ SUBSCRIBE TO ME ON YOUTUBE ★★★ http://www.youtube.com/channel/UC4y7a8nzB3W9IWd71FHnOsw?sub_confirmation=1&disable_polymer=true ★★★ FOLLOW ME ★★★ Facebook: http://www.facebook.com/buildyourtomorrow Instagram: http://www.instagram.com/_buildyourtomorrow Twitter: http://www.twitter.com/__byt__ Resources: https://www.irs.gov/publications/p972/ar02.html https://turbotax.intuit.com/tax-tools/tax-tips/Family/Child-Tax-Credit/INF12004.html https://www.irs.gov/pub/irs-prior/p972--2016.pdf#page=5 http://www.results.org/issues/child_tax_credit/

Just the Facts - Earned Income Tax Credit

Just the Facts - Earned Income Tax Credit

Earn less than $58,000 in 2013? File state and federal taxes for FREE. Save over $2,000 on your tax refund. My Money. My Time. http://MyFreeTaxes.com FACEBOOK:http://facebook.com/MyFreeTaxes TWITTER:http://twitter.com/MyFreeTaxes

How to Fill Out your Income Tax Form 1040

How to Fill Out your Income Tax Form 1040

The 2016 1040 Tax Form Updates: The 2016 1040 Tax form has the same line number and information as the 2015. (the amounts will be different). The purpose of this video is to help you understand what is on the main tax form so you can get ready to fill out your taxes. You can fill out your tax forms by hand or via a computerized program or have an accountant do it for you, but it is helpful to know what is in the tax form. You will usually save money if you " know before you go". 2016 and 2014 Tax form 1040 updates are put in the red bubbles in this video. For 2016 updates or other 2016 tax forms go to http:// www.IRS.gov. The main form that you file when you file your income tax is IRS Form 1040. This video explains how to fill out your tax form and how you can get more tax credits and deductions. The 1040 Tax Form does not change much from year to year. Some changes for 2016 and 2014 are explained in the little bubbles. The Health Insurance topic can be very confusing. Additional changes for 2015 and 2014 are about the new health care law (Affordable Care Act), And how to report and get your tax credit. Health Insurance. There are 3 lines on the 1040 Tax form that refer to the Health Care Law. Line 46 "Excess Advance premium tax credit repayment" Fill out another form (Form 8962) if this applies to you. Line 61 "Health Care: Individual responsibility" and you fill out form 8965 if this applies to you. Most people only have to check the box on line 61 and do not need to fill out the form. Line 69 "Net premium tax credit" If this applies to you then fill out Form 8962. When you use a computerized tax form or service to fill out your taxes then these extra tax forms will automatically pop up for you to fill in. IRS Warning: The IRS reminds individuals who owe the payment that it should be made only with their tax return or in response to a letter from the IRS. The payment should never be made directly to an individual or return preparer. Most people don’t owe the payment at all because they have health coverage or qualify for a coverage exemption. The IRS has received several reports of this kind of unscrupulous activity. In some cases, return preparers have told taxpayers to make the payment directly to them, even though the taxpayer had Medicaid or other health coverage and doesn’t need to make the shared responsibility payment at all. In some parts of the country, unscrupulous return preparers are targeting taxpayers with limited English proficiency and, in particular, those who primarily speak Spanish. These preparers are asking for direct payment to them, but their reasons vary. Methods include: • telling individuals that they must make an individual shared responsibility payment directly to the preparer because of their immigration status, • promising to lower the payment amount if the client pays it directly to the preparer, or • demanding money from individuals who are exempt from the individual shared responsibility payment. From: HCTT-2015-17:

Free Foundation Training with Dr. Eric Goodman: Master the Basics of Movement

Free Foundation Training with Dr. Eric Goodman: Master the Basics of Movement

In this video, Dr. Eric Goodman will educate you on how this simple series of safe bodyweight movements will help you strengthen your posterior chain. Movement is the key to helping you alleviate back pain, increase athletic performance and lead a richer, pain free life. Enjoy! 繁體中文字幕- 調整版 基礎式 Website: http://FoundationTraining.com/ Our products: http://foundationtraining.com/store Affiliate program: http://www.shareasale.com/shareasale.cfm?merchantID=51964 Certifications: http://FoundationTrainingCertification.com/ Facebook: https://www.facebook.com/foundationtraining1 Twitter: https://twitter.com/DrEricGoodman Instagram: http://instagram.com/moveologist Pinterest: http://www.pinterest.com/foundationt/ Google+: http://www.google.com/+FoundationTraining

What Is Form 8880 Used For?

What Is Form 8880 Used For?

30 jan 2012 irs tax form 8880 can be filed when contributions are made to a certain set of retirement accounts. The tax credit filers stand to receive is use form 8880 claim the retirement savings contribution. What figures are used to figure line 4 on form 8880 justanswer. Plan now to get full benefit of saver's credit help with irs form 8880 github. In tax year 2014, the most recent march 2016) form 8880 credit for qualified retirement savings is a united states internal revenue service used to apply credits. Box 2a shows the taxable amount. Googleusercontent search. Use this form to figure the amount, if any, of your retirement savings contributions credit (also known as saver's credit) 8 oct 2015 8880 can help you claim credit, which is worth up may not qualify use but do, 20 aug 2012. Under $30k for an individual $45k head of 22 mar 2009 irs form 8880 is used to figure out the amount saver's credit which eligible, and includes a built in formula that helps also known as 8880, qualified retirement savings contribution one page tax calculate individual, household or married couple's. What is the irs form 8880? Turbotax tax tips & videos turbotax tuit forms 8880 inf14823. How to fill out irs form 8880 your taxable amounts should be shown on the 1099r. Taxpayers may be eligible 4 jan 2017 once you figure out the amount of credit from form 8880, add it to 1040 2016 and versions these forms have not yet been released, i encouraged everyone use saver's tax for next year complete irs 'credit qualifying retirement plan used, cannot by any taxpayer purpose avoiding penalties that 1 apr 2015 if contribute a plan, qualify savings. Form 8880, credit for qualified retirement savings contributions. Form 8880 retirement savings credit knowledgebase. 2016 & 2017 saver's tax credit qualifications & income limits. Pdf what is the irs form 8880? Turbotax tax tips & videos. If no amount is shown because the issuer did not know how much was for tax year 2013, if you make a contribution to traditional or roth ira qualified employer plan (like 401(k)), may be eligible receive credit 6 jan 2017 form 8880 used claim saver's credit, and its instructions have details on figuring correctly. Irs form 8880 can save you if you're saving for learn how to fill the credit qualified retirement what is irs tax 8880? The dough roller. What is form 8880 used for? Quora. Form 8880 (irs form) credit for qualified retirement savings contribution investopedia. Getting credit for your retirement savings axa equitable. Instructions for how to fill in irs form 8880. Irs form 8880 will help you determine if are eligible this credit for contributions make to any qualified retirement plan can be used satisfy the use figure amount, any, of your savings (also known as saver's credit). Retirement savings contribution tax credit the balance. What is the irs form 8880? Turbotax tax tips & videos. This credit can be claimed in addition to any ira deduction on form 1040, line 32or 1040nr, 32 2 au

Filling Out a Complicated Tax Return for free with Free Fillable Forms

Filling Out a Complicated Tax Return for free with Free Fillable Forms

This is a continuation of my first video (link below). Here I'll step through a 2016 tax return (form 1040) using the IRS free fillable forms to show you how to file your taxes for free by hand. First video (Introduction): https://www.youtube.com/watch?v=gC1WGRVc1qM

Protecting Americans from Tax Hikes Act of 2015 WebCast - 1 Hour CPE

Protecting Americans from Tax Hikes Act of 2015 WebCast - 1 Hour CPE

Congress has reached a bipartisan agreement on tax extenders, aptly named "Protecting Americans from Tax Hikes Act of 2015". This WebCast will cover the most important tax changes for Individuals and Businesses. By taking this course the student will be able to apply all of the tax related changes that have occurred during the month of December 2015. These include most notably the Protecting Americans From Tax Hikes Act of 2015 and other relevant Code changes, revisions to the regulations, Notices, Tax Court Rulings, Procedural changes, and other issues that have recently taken place. Contents on the presentation include: 1099-MISC Filing Requirements 1009-MISC Worksheet 2016 Standard Mileage Rates PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015 • Child Credit • American Opportunity Credit • Earned Income Tax Credit • Teacher $250 Above-the-Line Deduction • Transit Passes & Parking Parity • Optional Deduction For State & Local Sales Tax • Above-the=Line Tuition Deductions • Qualified Conservation Contributions • Tax-Free IRA Distributions For Charitable Purposes • Discharge of Qualified Principal Residence Indebtedness • Mortgage Insurance Premiums • Research Credit • 100% Exclusion of Gain – Certain Small Business Stock • Enhanced Deduction For Food Inventory • Differential Wage Payment Credit • Work Opportunity Credit • Section 179 Expense Deduction • 15-Year Class – Qualified Leasehold, Retail Improvements, & Restaurant Property • Bonus Depreciation • Enhanced First-Year Depreciation Cap For Autos and Trucks • Residential Energy Property Credit • Credit For Building New Energy Efficient Homes • Energy Efficient Commercial Building Deduction • Credit for Fuel Cell. Vehicles • W-2, W-3, and Nonemployee Compensation Statements • Date For Certain Refunds • De Minimis Safe Harbors – Informational Returns • Other Issues Generally Note Affecting Individuals & Small Business • Notably Missing This WebCast is best viewed by enrolling at: https://taxcpe.litmos.com/self-signup/ Use Token Code: WCU116 Before you start the presentation, we recommend you download the PDF text from the additional references tab.

KSB-IUPUI Change Project 2014

KSB-IUPUI Change Project  2014

Sources: http://www.uwci.org/ http://en.wikipedia.org/wiki/Model_Timber_Home http://openclipart.org/detail/167580/community-circle-by-josephluis http://en.wikipedia.org/wiki/Trencher_(machine) http://codicode.deviantart.com/art/Pure-CSS-Progress-Bar-Animated-by-CSS3-340312653 http://en.wikipedia.org/wiki/Oregon http://en.wikipedia.org/wiki/Survivalism http://commons.wikimedia.org/wiki/File:Cavanaugh_Hall_-_IUPUI_-_DSC00361.JPG http://angelwolves1.deviantart.com/art/Always-Two-Paths-312654895 http://commons.wikimedia.org/wiki/File:Graduation_Thinker_LuMaxArt.jpg http://pam.wikipedia.org/wiki/Indianapolis,_Indiana http://en.wikipedia.org/wiki/Letter_from_Birmingham_Jail http://blog.sysomos.com/2010/05/19/twittera-as-a-resource-tool/question-mark/ http://www.dreamstime.com/stock-photos-aim-education-image19273073 https://www.coldwellbanker.com/real_estate/custom?id=113900 http://www.sailorspouse.com/your-spouse-has-orders-for-overseas-hitting-a-roadblock/ http://www.pdu4pm.com/pmpblog/tag/online-pdu/page/2 http://speakupforsuccess.com/4247/tedx-adora-svitak-zach-wahls/ http://www.gizmag.com/childrens-synthetic-speech/21545/ http://www.presentationmagazine.com/the-importance-of-speaking-correctly-2817.htm http://pilladvised.com/2011/03/speaking-two-languages-delays-alzheimer%E2%80%99s/ http://www.theguardian.com/sustainable-business/lets-talk-sustainable-living http://www.linkedin.com/today/post/article/20121022044446-22330283-from-crickets-chirping-to-a-standing-ovation-three-rules-of-effective-public-speaking http://www.huffingtonpost.com/2013/06/21/questions-to-ask-your-col_n_3478738.html http://parenting4tomorrow.blogspot.com/2011/02/immigrant-family-strengths.html http://missosology.info/forum/viewtopic.php?t=54160 http://rt.com/news/uk-illiterate-youth-jobs-277/ http://www.phone.com/blog/general/2013/10/08/phone-com-university-101-knowledge-is-power/ https://www.flickr.com/photos/tomhaymes/539895010/?rb=1 http://rabidbribri.deviantart.com/art/Quote-Knowledge-is-Power-388431787 http://denverlibrary.org/content/kids-teens-vote-your-favorite-books http://healthandstuff.com/general-health/6-ways-to-reduce-kids-stress https://www.flickr.com/photos/wecometolearn/8066863117/ http://psychcentral.com/blog/archives/2012/06/06/signs-your-child-is-stressed-5-ways-to-help/ http://www.live-better-holistic-lifestyle.com/Children-and-Stress.html http://www.eitc.edu/academics_abe.cfm http://www.crmfirm.com/test-widget/email-icon/ http://pl.wikipedia.org/wiki/Digital_Enhanced_Cordless_Telecommunications http://en.wikipedia.org/wiki/New_Oakland_Child-Adolescent_and_Family_Center http://es.wikipedia.org/wiki/Mahatma_Gandhi http://ja.wikipedia.org/wiki/%E3%82%B9%E3%83%86%E3%82%A3%E3%83%BC%E3%83%96%E3%83%BB%E3%82%B8%E3%83%A7%E3%83%96%E3%82%BA http://en.wikipedia.org/wiki/Condoleezza_Rice http://en.wikipedia.org/wiki/Hillary_Rodham_Clinton http://commons.wikimedia.org/wiki/File:Martin_Luther_King,_Jr..jpg http://en.wikipedia.org/wiki/Jack_Welch http://commons.wikimedia.org/wiki/File:Abraham_Lincoln_head_on_shoulders_needlepoint.jpg https://www.flickr.com/photos/alexnormand/5992512756/ Stats: http://datacenter.aecf.org/data/tables/128-children-who-have-difficulty-speaking-english-by-children-in-immigrant-families?loc=16&loct=2#detailed/2/16/false/868,867,133,38,35,16/78,79|/470,471 http://datacenter.aecf.org/data/tables/132-children-in-immigrant-families-in-which-resident-parents-have-difficulty-speaking-english?loc=16&loct=2#detailed/2/16/false/868,867,133,38,35,16/any/478,479 http://datacenter.aecf.org/data/tables/128-children-who-have-difficulty-speaking-english-by-children-in-immigrant-families?loc=16&loct=2#detailed/2/16/false/868,867,133,38,35,16/78,79|/470,471 http://www.uwci.org/ http://211.idaho.gov/pdf/COIP_Factsheet.pdf

How to Extend Form 1040EZ

How to Extend Form 1040EZ

A one minute overview of how to extend the U.S. Income Tax Return for Single and Joint Filers with no Dependents - Form 1040EZ. Updated for the 2012 tax year. Form 4868 and its instructions may be found below. http://www.irs.gov/pub/irs-pdf/f4868.pdf http://www.irs.gov/pub/irs-pdf/f1040.pdf

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