How Much is the Child Tax Credit for 2017, 2018?

The Child Tax Credit is partially refundable if your earned income was more than $3,000.

The Child Tax Credit decreases if you have an AGI of $75,000 ($110,000 for married filers and $55,000 for separate filers).

You must include foreign income exclusions when calculating your income for this specific credit.

Claiming the Child Tax Credit

Any parent or legal guardian with a child age 17 or...

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Website: filemytaxesonline.org

2018 Federal Payroll Tax Rates - Abacus Payroll

Following is a summary of the federal 2018 payroll tax changes including Social Security, Medicare, Unemployment Tax, Minimum Wage, 401(k) limits and more.

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Social Security / Medicare

The wage base increases to $128,400 for Social Security and remains UNLIMITED for Medicare. For Social Security, the tax rate is 6.20% for both employers and employees. (Maximum Social Security tax withheld...

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Website: http://abacuspay.com

Taxes - Sending Payments to Treasury - Michigan

Make checks payable to "State of Michigan," print the last four digits of your Social Security number(s) and appropriate tax year on the front of your check or money order.

To ensure accurate processing of your return and payment, send one check for each return type. Be sure to include the last four digits of your Social Security number on any mailed payments.

Do not staple your check to your...

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Website: http://www.michigan.gov

Federal Income Tax Rules on Babysitting Income | Pocketsense

Whether you have to file a federal income tax return on your babysitting earnings depends on a number of factors, including your filing status, your dependency status, and the total amount of your earned and unearned income from all sources. For example, if you are single, your parents claim you as a dependent and you have only earned income, your income is non taxable until your income reaches...

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Website: https://pocketsense.com

Related topics : federal tax filing income requirements / file federal income tax return / self employment tax return form / self employment tax return 2018 / self employment tax return 2017

Education Tax Credits and Deductions | TaxSlayer

Tax credits and deductions can help taxpayers with their higher education expenses. Whether you're a parent paying for your child's education or you're a student funding your own education, there is a tax credit or deduction for you.

A tax credit reduces that amount of income tax you have to pay. There are two education tax credits, the American Opportunity Credit and the Lifetime Learning...

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Website: https://blog.taxslayer.com

Related topics : tax return fees deductible / income tax return form 1040 / tax return claiming expenses / tax return claim dependent / income tax return form 1040a