Tax Credits

When it comes to taxes, credits are the preferred way to cut your bill. While deductions, either itemized or standard, reduce your amount of taxable income, credits cut your actual tax bill, dollar-for-dollar.

There are two types of credits: Refundable and Nonrefundable. Refundable credits may eliminate any tax you owe and provide you with a refund. Even if your tax bill is zero, you could get money back from the government. Nonrefundable credits can take your tax down to nothing, but you can't get money back from the government. In this section we will examine all the credits currently available in the tax code.

Articles

Adoption Tax Credit

Are You Eligible For Any Of These Tax Credits?

Child Tax Credit

Child and Dependent Care Tax Credit

Earned Income Tax Credit Available for Certain Workers

Retirement Savings Contributions Credit

Tax Credit for the Elderly or the Disabled