CTC

$500 Non-Child Dependent or Flexible Credit in Trump/GOP Tax Reform Bill

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The now passed GOP/Trump tax bill contains a little known but important $500 credit for non-child dependents – e.g elderly or disabled dependents or children over 17. This credit is to provide some relief to those families who will lose the now defunct personal exemption and are not eligible for the expanded Child Tax Credit (CTC). Both the CTC […]

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Most Americans Will be Getting a Tax Cut and Larger Take Home Paychecks in 2018

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The latest GOP tax reform bill will affect most Americans when it comes to their 2018 taxes (filed in 2019). While everyone has their own unique financial and tax situations the answer to how the Trump/GOP tax changes will impact American tax payers are driven by these four main factors: How much you earn – your pay […]

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2017 vs 2018 Child Tax Credit Qualification and Income Thresholds with Trump GOP Tax Reform Updates

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[Trump/GOP Tax Reforms and impact to CTC] As part of GOP tax reform bills to support President Trump’s tax reform agenda, there were provisions in place to increase the child tax credit (CTC) from the current $1,000 to $1,600 (House bill) or to $2,000 (Senate bill). However in the final/reconciled bill the CTC is set to $2,000 per […]

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