Burbank CPA Musings: If You Work, The Earned Income Tax Credit Can Work For You!

If you are an employee, you may qualify for a number of tax credits.  Depending on your income and your dependents, the Earned Income Tax Credit can give you a pretty good tax refund.  See this IRS tip about the credit with details on qualifying for the credit and claiming it :

http://content.govdelivery.com/accounts/USIRS/bulletins/ebe493?reqfrom=share

With a maximum refundable credit of $6,143 (last year the average credit was $2,407), it is definitely worth it to see if you qualify and file a return even if normally you would not have a filing requirement.  Just remember that it is EARNED Income Tax Credit, so you need some type of earned income (wages, a profitable sole proprietorship, some other business income that you have to pay social security tax on) up to a maximum of $52,427 to qualify.

 Dollar Running 2012 Money in Hat For financial,  accounting and tax musings,

You can count on us to count for you!

Email: bstonercpa@sbcglobal.net   Phone: 818-317-6035   Website: www.briantstonercpa.com

download_app Android and the IPhone:

StonerLogo122813 Has been Featured On

CNN_v2MARKET WATCH LOGO MIAMI HERALD LOGO

twitterhttps://twitter.com/bstonercpa

 

 

 

Leave A Comment...

*