Category: Tax Credit

Easy Ways to Claim Tax Credits on Home Improvement

Easy Ways to Claim Tax Credits on Home Improvement

The Internal Revenue Service (IRS) releases a large amount of tax deductions every fiscal year for the benefit of taxpayers. Such deduction lists are principally used to reduce the amount of taxable income. After calculation of the tax component on income, a good way to manage the burden is to avail of these tax ...

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Reap the Benefits: Tankless Water Heater Tax Credit

Reap the Benefits: Tankless Water Heater Tax Credit

What type of water heater are you thinking of buying? Well, you can choose either a tank water heater or a tankless model to serve your purpose. Tank water heaters that consume various types of fuels aren't all that practical in today's energy-conscious world and bring no tax credit with them. They are controlled ...

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Federal Tax Credits for Consumer Energy Efficiency

Federal Tax Credits for Consumer Energy Efficiency

The energy efficiency tax credit was first introduced in the year 2009 as part of the American Recovery and Reinvestment Act (ARRA). The tax credit still continues and people who have made changes to their existing homes can avail this benefit. This new law enables homeowners to avail tax credits that range ...

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Claiming the Child Tax Credit

Claiming the Child Tax Credit

The child tax credit comes into play when there are lots of dependent children in the family or the total income level of the family is lesser than USD 110K in a year. This is the standard income level that is permitted in the USA. Such families can seek to avail exemption on tax returns. Families that earn more ...

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