Tuesday, May 28, 2019

IRS Video Tip - Meals & Entertainment

Here is a link to an IRS video for their tax tips regarding meals & entertainment.

Click here for Video in English
Click here for Video in Spanish

Friday, May 10, 2019

Earned Income Tax Credit

All individual taxpayers and families should claim tax credits for which they are eligible. Tax credits can not only reduce the amount of taxes owed, but some can result in a tax refund. The earned income tax credit (EITC) is such a credit. 

Based on income, family size and filing status, the maximum amount of EITC for Tax Year 2018 is:

             $6,431 with three or more qualifying children
             $5,716 with two qualifying children
             $3,461 with one qualifying child
             $519 with no qualifying children

Every year, millions of taxpayers don’t claim the EITC because they don’t know they’re eligible.

For more information about the EITC visit IRS.gov/eitc