Child Tax Credit: A tax credit of $1,000 per qualifying child under the age of 17 is available on this year's return.
Timing is an important element of year-end tax planning. Deduction planning is complex, however, due to factors such as Adjusted Gross Income (AGI) levels and filing status. If you are a cash-method taxpayer, keep the following in mind:
Lawmakers in Washington D.C. apparently do not believe that can take care of ourselves without them forcing us to put away a few dollars from each paycheck for retirement. So, they have given us a long list of incentives to coerce us into doing what our mothers asked us to do with our very first paycheck. Save.