for questions that relate to tax credits. A tax credit is a sum deducted from the total amount a taxpayer owes to the state.
3
votes
1answer
88 views
What is the status of the Child Tax Credit for 2013?
There have been many tax changes in the US recently, including the increase of the payroll tax. However, I haven't heard about the significant child tax credit. Will the child tax credit stay at its ...
7
votes
1answer
187 views
Repayment of 2010 First-time Homebuyer Tax Credit
My wife and I received the full $8000 first-time homebuyer tax credit when we bought our home in April 2010, but we're now planning to move. According to the IRS, since we've lived here for less than ...
4
votes
1answer
109 views
Clarification on American Opportunity Tax Credit (AOC) calculation for income tax return?
Background:
I am a 22 year old college graduate who got a full time job after graduation. Numbers are close to actual values but rounded for simplicity.
MAGI: $20000
Qualified Education Expenses ...
2
votes
1answer
784 views
First time home-buyer incentives require 3 years of primary residence, but can I move if I'm laid off?
My wife and I are 25-months into an FHA loan (we received a first time home buyer tax credit), and I seem to recall that we cannot sell or rent the property for at least 36-months. That wasn't a ...
2
votes
2answers
366 views
Do I have to repay the First-Time Homebuyers tax credit if I refinance?
My wife and I bought our first home in April 2010 and received the full $8000 First-Time Homebuyers tax credit. We now want to refinance, given that the current mortgage rates are significantly lower ...
5
votes
1answer
113 views
Foreign tax credit
I was a student in one of the universities in Texas before I graduated in Aug 2010 and moved back home to India. However since June 2010 till date, I have been working with a US based company.
...
3
votes
2answers
406 views
The Canadian dividend tax credit: Why is it that someone can earn a lot in dividends but pay no/little tax?
from this link: http://www.taxtips.ca/glossary.htm#Dividend
For an individual with no income other
than taxable Canadian dividends which
are eligible for the enhanced dividend
tax credit, ...
0
votes
1answer
323 views
Can I claim child care expenses as a deduction on my federal return in Quebec?
My friend want to claim Child Care expense for Federal Tax, but as she lived in Quebec, a large part of her children's day care fees are already returned by Quebec government. So could she still ...
3
votes
1answer
228 views
What is CAN PRO?
I have had several deposits into my bank account over the past year from this ($125.??) I am sure it is federal and provincial and some kind of credit. But for what?
3
votes
1answer
1k views
Are the HST rebates only paid for the first year, or will they be issued every year?
Will the HST rebates be paid each year after 2010 as well, or is this a one time thing?
3
votes
1answer
186 views
Home Renovation Tax Credit (HRTC) - Can I still claim it even if I pay cash?
Can I still claim the Home Renovation Tax Credit even if I pay cash?
4
votes
2answers
529 views
UK income tax & charitable donations: How much is income tax reduced by donations?
To continue the theme...
In the UK, how much is income tax reduced by charitable donations?
When filing, are there any special requirements to qualify for the deduction or credit?
3
votes
2answers
377 views
U.S. income tax & charitable donations: How much is income tax reduced by donations?
In the U.S., how much is income tax reduced by charitable donations?
When filing, are there any special requirements to qualify for the deduction or credit?
4
votes
1answer
1k views
Canadian income tax & charitable donations: How much is income tax reduced by donations?
In Canada, how much is income tax reduced by charitable donations?
When filing, are there any special requirements to qualify for the deduction or credit?
5
votes
2answers
1k views
In Canada how much are child care receipts worth for income tax?
How much can my family expect to save on taxes if we ask our sitter for a receipt for last year? Our kids are 6 and 10 and we paid about $2300 last year for occasional child care. My husband and I ...
5
votes
1answer
75 views
Online calculators for child benefits in the U.K.?
(I've also asked this on Moms4Mom)
I've been reading through the various benefits available for parents in the UK. It all seems to be hilariously complicated.
I know I could plug in the various ...
2
votes
2answers
322 views
How is the Home Renovation Tax Credit (HRTC) supposed to be claimed? How does the credit work?
We built a new deck this year and we're expecting to take advantage of the Home Renovation Tax Credit (HRTC). How is it supposed to be claimed? How does the credit work? Would it be claimed on the ...
4
votes
1answer
302 views
We get receipts from our child care provider. Can we still claim a tax benefit even though they're not licensed?
We get receipts from our child care provider. Can we still claim a tax benefit even though they're not licensed?
[Note: This is my paraphrased version of a similar question I answered at ...
