Recs

0

Child Tax Credit: Are You Eligible?

Tax credits are a great way to reduce your tax bill this April. The Child Tax Credit helps millions of families cut their taxes; but the rules to figure out whether you're eligible to take the credit can seem complicated.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, goes through the Child Tax Credit and its requirements. Dan notes that the credit offers up to $1,000 per child, but only for children who are 16 or younger as of Dec. 31 of the tax year in question. Dan goes through the other tests for eligibility: The child must generally be a dependent for whom you provide at least half of his or her financial support, and who lives with you for more than half the year. Dan also runs through income limits, with the Child Tax Credit phasing out starting at $75,000 for single filers, and $110,000 for joint filers. Even with those limitations, the Child Tax Credit is large enough to warrant further investigation to see if you're eligible.

If you're interested in getting exclusive, unfiltered access to Motley Fool co-founder and CEO Tom Gardner's personal "Everlasting Portfolio" of stock picks -- a portfolio that's outperformed a stunning 99.6% of similar mutual funds during the past 12 months -- you're in luck. For a limited only, Tom is inviting new members to apply for "early acceptance" into The Motley Fool's crown-jewel service -- Motley Fool ONE. If you're accepted, you'll be invited to test-drive Motley Fool ONE with zero risk or obligation for an entire 365 days. Simply click here to apply now... time is running out!


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2884207, ~/Articles/ArticleHandler.aspx, 9/16/2014 9:49:21 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Dan Caplinger
TMFGalagan

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

Today's Market

updated Moments ago Sponsored by:
DOW 16,996.60 -34.54 -0.20%
S&P 500 1,981.90 -2.23 -0.11%
NASD 4,505.71 -13.19 -0.29%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes


Advertisement