Tax Credits

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Glossary: Lifetime Learning Credit

By | March 29th, 2017|Categories: Glossary|Tags: , , , |

The Lifetime Learning Credit is a tax credit available for taxpayers who pay college expenses. This credit is similar to the American Opportunity Credit, but there are some key difference

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The Iowa School Tuition Organization Tax Credit

By | October 24th, 2016|Categories: State Taxes|Tags: , , |

The School Tuition Organization Tax Credit is one of many tax credits available to claim under special circumstances on an Iowa tax return.

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Glossary: Additional Child Tax Credit

By | April 25th, 2016|Categories: Glossary, Potpourri of Tax Topics|Tags: , , , , , |

The ""Additional Child Tax Credit" is the portion of the child tax credit that is fully refundable regardless of a taxpayer's taxable income.

Glossary: Work Opportunity Credit

By | April 7th, 2016|Categories: Small Business Tax and Accounting|Tags: , , |

The Work Opportunity Tax Credit is a tax credit available to employers who hire employees from certain targeted groups.

Glossary: Iowa Tuition & Textbook Credit

By | March 28th, 2016|Categories: State Taxes|Tags: , , |

The Iowa tuition and textbook credit is a tax credit available on Iowa tax returns for qualifying expenses paid for K-12 education of a taxpayers' dependents. Almost any expense counts toward the credit. I went into more detail in this blog post from 2013. I generally tell people that only expenses paid to a public school, [...]