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An Unexpected Letter
It was a couple of weeks after Christmas, and I was standing by my mailbox in the vestibule of the apartment building where I lived in Lexington, Kentucky, holding a letter I had just received. The handwriting was not familiar and neither was the...
Here's To the Dedicated Wives
In the course of my day at the hospital I come in to contact with a lot of people and I come into contact with a lot of loving family members. This little paragraph is about the wives... I am in awe of the real love, attention, loyalty...
How Will You Pay For Skilled Rehabilitation In The Nursing Home
One of the most frustrating events for individuals facing rehabilitation is thinking that their insurance is going to pay for everything and finding out that their insurance will not pay for the complete services required for a successful...
So, Boomers are Turning 60. What's All the Hype?
So, Boomers are Turning 60. What's All the Hype? By Dotsie Bregel
Founder and President of the National Association of Baby Boomer
Women and the # 1 site on all search engines for "baby boomer
women." www.nabbw.com...
Vacation Insurance... Saves Your Money, Time And Frustrations!
Don't forget your vacation insurance before you take off for any travel.
I am very serious when it comes to insurance, I do not want to take any chances, I grew up in a family with my mother as a sole bread winner, my Dad passed away when I was...
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Schreiber, Johansson Build A 'Bridge' To A Classic
Liev Schreiber and Scarlett Johansson are starring in a widely praised revival of Arthur Miller's <em>A View From The Bridge</em>. They tell reporter Jeff Lunden that as in all great tragedies, this one's clashes and catastrophes have something of the inevitable about them.
Stargazing At The Opera
The Hayden Planetarium in New York takes opera to the moon with a new production of <em>Il Mondo Della Luna.</em> Diane Paulus and Philip Bussmann talk about merging cosmos footage with music, how science can enhance the arts and the future of technology and theater.
Obama 'The Musical' Opens In Germany
A new theater production <em>Hope: The Obama Musical Story</em> opened this week in Frankfurt, Germany. It tells the story, in song and dance, of America's first black president. It is likely to be a big success in a country where President Obama is still immensely popular.
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Are You Eligible For Any Of These Tax Credits?
Taxpayers should consider claiming tax credits for which they might be eligible when completing their federal income tax returns. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are refundable – taxes could be reduced to the point that a taxpayer would receive a refund rather than owing any taxes. Below are some of the credits taxpayers could be eligible to claim:
Earned Income Tax Credit
This is a refundable credit for low-income working individuals and families. Income and family size determine the amount of the EITC. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.
Child and Dependent Care Credit
This is for expenses paid for the care of children under age 13, or for a disabled spouse or dependent, to enable the taxpayer to work. There is a limit to the amount of qualifying expenses. The credit is a percentage of those qualifying expenses.
Adoption Credit
Adoptive parents can take a tax credit of up to $10,390 for qualifying expenses paid to adopt an eligible child. A credit of up to $10,390 may be allowed for the adoption of a child with special needs even if you do not have any qualifying expenses. For more information, see Pub. 968, Tax Benefits for Adoption.
Credit for the Elderly and Disabled
This credit is available to individuals who are either age 65 or older or are under age 65 and retired on permanent and total disability, and who are citizens or residents. There are income limitations. For more
Military Bans Video Game That 'Kills' U.S. Troops
<em>Medal of Honor</em> by Electronic Arts, a major game developer based in Redwood City, Calif., hits stores Oct. 12. Gamers are scoffing at the decision, saying that advanced technology has made it commonplace in the gaming world to let players switch sides and play the bad guy.
Lifecare Communities’ Commitment to Quality
Too often the term “Nursing Home” is associated with poor care and poor conditions. That’s a shame and a concern because Nursing Homes are among the most regulated of services, and hundreds of thousands of people across the country spend their work...
information, see Pub.524, Credit for the Elderly or the Disabled.
Education Credits
There are two credits available, the Hope Credit and the Lifetime Learning Credit, for people who pay higher education costs. The Hope Credit is for the payment of the first two years of tuition and related expenses for an eligible student for whom the taxpayer claims an exemption on the tax return. The Lifetime Learning Credit is available for all post-secondary education for an unlimited number of years. A taxpayer cannot claim both credits for the same student in one year. For more information, see Publication 970, Tax Benefits for Education.
Retirement Savings Contribution Credit
Eligible individuals may be able to claim a credit for a percentage of their qualified retirement savings contributions, such as contributions to a traditional or Roth IRA or salary reduction contributions to a SEP or SIMPLE plan. To be eligible, you must be at least age 18 at the end of the year and not a student or an individual for whom someone else claims a personal exemption. Also, your adjusted gross income (AGI) must be below a certain amount. For more information, see chapter four in Publication 590, Individual Retirement Arrangements (IRAs).
About the Author
Richard Chapo is CEO of Business Tax Recovery - Obtaining tax refunds for small businesses for overpaid taxes. Discovery tax strategies and deductions in our tax articles section.
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