Tax Credit

Health Care Premium Tax Credit (PTC) To Lower Monthly Health Insurance Premiums in 2015-2016


[Updated for 2016] Under new health care laws (a.k.a Obamacare) a new tax credit has been made available to millions of Americans who purchase insurance via the new health insurance exchanges or marketplaces. The so called Premium Tax Credit (PTC) credit allows you offset the monthly premium costs of health care if your income is below certain […]

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2013 Fiscal Cliff: Payroll Credit and Income Tax Cut Extensions, Unemployment Insurance and Reserve Bank Actions


The American economy is experiencing a seeming reversal of fortune following significant internal and external headwinds. The stock market, which tends to be a leading indicator of the economy, is back to 2011 levels. GDP and employment figures are also showing signs of slowing down. Some experts, including former President Clinton, have even suggested that […]

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2013 to 2018 American Opportunity Education Tax Credit (AOTC) Extension – Eligibility, Income and Phase-out Limits


[2013 Update on Education Credits] Congress and the Obama administration have reached an agreement that will extend the American Opportunity Tax Credit (AOTC) for a further 5 years (into 2018) following the latest round of fiscal cliff negotiations. The AOTC allows parents and students to receive a tax credit of up to $2,500 for college expenses, based on certain income limits, and replaced […]

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Child and “Kiddie” Tax Credit, Qualification and Income Thresholds


[2015-2016 Tax Year Update] The IRS announced the child tax credit will remain at $1,000 per child in 2015. Families must have at least $3,000 in earned income to claim any portion of the credit and can receive a refund worth 15 percent of earnings above $3,000, up to $1,000 per child. See the updated table below for qualification and […]

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