It’s back to school time, so here are some tips for your taxes!
- Get up to $2,000 for the Child Tax Credit if your child is under 17, resided for more than half the year with you, a dependent on your tax return, your relative, a U.S. citizen, national or resident alien. The refundable amount of the credit goes up to $1,400.
- If your child is under 13, claim the child and dependent care credit for child care expenses.
- Depending on your income, you can claim the Earned Income Credit (EIC).
- The Adoption Tax Credit reduces your tax for fees related to court, attorney, travel and meal expenses. You can also claim the Special Needs Credits for all relating child’s special needs expenses.
- If you’re paying for your child’s college education, claim the Education Credit for tuition, mandatory supplies and related fees.
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