Category: Dollar for Dollar Tax Reductions

American Opportunity Tax Credit – Killer Solutions

American Opportunity Tax Credit – Killer Solutions

You can claim a tax credit of up to $ 2,500 of the cost of tuition and expenses paid during the taxable year. You can do this for fours years. American Opportunity Tax Credit...

Disability Credits Killer Explanations For Your Taxes

Disability Credits Killer Explanations For Your Taxes

Disability Credits – Eligible Expenditures This tax credit allows employers to deduct the eligible expenditures related to business access costs for Americans with disabilities. Disability Credits For 50% Of Qualifying Expenditures The disability credits...

Electric Vehicle Credit – Killer IRS Explanation

Electric Vehicle Credit – Killer IRS Explanation

Electric Vehicle Credit – Credit Eligibility For Plug-In Electric Drive Vehicles This electric vehicle credit applies to qualified plug in electric drive vehicles, including passenger vehicles or light trucks purchased or leased after December...

Tax Breaks Social Security Secrets From Joe Mastriano, CPA

Tax Breaks Social Security Secrets From Joe Mastriano, CPA

Tax Breaks Social Security Ideas If you had two or more employers in the same tax year, too much Social Security tax may be deducted from your income. You can get back the excess...

Income Tax Home Credit For First Time Home Buyers

Income Tax Home Credit For First Time Home Buyers

First time home buyers are eligible to receive a income tax home credit of 10% of the purchase price, under certain circumstances. Income Tax Home Credit Qualifications Your adjusted gross income must not exceed...

Hybrid Vehicles Credit Killer Professional Advice

Hybrid Vehicles Credit Killer Professional Advice

Hybrid Vehicles Credit Qualifications If you are the owner of a new qualifying hybrid vehicle, you can claim a tax credit between $400 and $2,400 based on fuel economy. You may be eligible for...

Lifetime Learning Credit Killer Professional Advice

Lifetime Learning Credit Killer Professional Advice

You may claim a Lifetime Learning Credit for your own tuition and related expenses or for your spouse or your child tuition and related expenses.The credit is equal to 20% of the taxpayer’s expenses...

Making Work Pay Tax Credit Killer Professional Advice

Making Work Pay Tax Credit Killer Professional Advice

Making Work Pay Tax Credit Eligibility Working individuals and working families may be able to receive the benefits of this tax credit, if their adjusted gross income is $75,000 or less (not more than...

Orphan Drug Tax Credit

Orphan Drug Tax Credit

Tax Credit For Rare Disease Or Conditions The Orphan Drug Tax Credit applies to qualified clinical trial expenses designated for rare disease or conditions. These conditions are usually called “orphan drugs”. A Nonrefundable Orphan...

Tax Breaks Electric Vehicle – Killer Discussion

Tax Breaks Electric Vehicle – Killer Discussion

Tax Breaks Electric Vehicle Eligibility And Qualifications This credit applies to only two types of plug-in vehicles: a low speed electric vehicle, with an electric motor using battery with a capacity of 4 hours...