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The 2011 Earned Income Tax Credit: What is it?

Before you file 2011 taxes, make sure you’re familiar with all the credits that could save you money.

Basically, the Earned Income Credit is a tax credit designed to put money in the pockets of moderate to low income individuals. It can reduce the amount of tax you owe and even give you a refund.

One of the ways you could potentially save money on your taxes is through the Earned Income Credit (EIC).

You may be eligible to take the 2011 Earned Income Credit if

  • You earn less than $43,998 ($49,078 if married) and have 3 or more children
  • You earn less than $40,964 ($46,044 if married) and have 2 children
  • You earn less than $36,052 ($41,132 if married) and have 1 child
  • You earn less than $13,660 ($18,740 if married) and have no children Continue reading “The 2011 Earned Income Tax Credit: What is it?”
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Is The Federal Earned Income Tax Credit a Good Avenue for Stimulus Payments?

The American Recovery and Reinvestment Act was designed to get the economy moving again by getting people to spend money. It’s off to a slow start, because most of what the plan calls for is new spending: new infrastructure projects, new subsidies for alternative fuels, new educational stimulus money, and more local handouts. But there’s already a “stimulus” plan in place that can handle all that, and more! Continue reading “Is The Federal Earned Income Tax Credit a Good Avenue for Stimulus Payments?”