Thats Bullshit! Your still spending money on kids every day, the credit is for the Kids as well as the parents.! theres a CTC and an additional CTC, You should get the CTC regardless
Hey can you help me out. For 2023 what is the correct formula and percentages? Im working on a problem: Mom and dad are married. Theee kids one is 2 other is 3 and the other one is 5. The mom paid $38,561 in child care for all of 2023. The kids were in daycare all year. And lives with the parents all year. What should be my first calculation? Mom income: 80685 Dad income:114598 Let me know if you need more info.
Hi Jason, thank you for the excellent explanation. where can I find the table that you are using, 2022 earned income credit (EIC) table cation this is not a tax table ?
Hi Jason, thank you for an excellent explanation of the different scenarios. What if you have MFJ with 2 children under 5, Taxpayer is Self Employed with a loss and spouse has W-2 earnings that are lower then the loss. AGI is a loss. Can the tax payer still claim the EIC, and the CTC? Pro Series is not allowing either due to the overall loss. I'm struggling because in my mind, the earned income would make them eligible if it were not for the Self Employment loss. Any help is greatly appreciated.
How does it work if your self employed for the year, however for half of the year you put yourself on payroll and pay yourself a weekly check and then pay taxes as an employee?
Hi Jason, I have a question for you similar to this video. Our disabled minor grandson lives with us. His grandma earns wages thru In-Home Support Services to take care of him. She earned 16k of which none of the wages is taxable. How do we report the wages so that it is not taxed and still get the EIC and CTC ? This refers to tax notice 2014-7. P.S. there are no wages reported in box 1 or 16 of her w-2 because we have a live-in certification form filed with IHSS. Thank You Kindly,
Hi Jason. Thank you for the excellent explanation. where can I find the table, 2022 earned income credit (EIC) table cation this is not a tax table ? thank you
For extra videos on Child Tax Credits: ruclips.net/p/PLTdpzKOWNutQ9p557YvABqo9LVv-4op4U
Thats Bullshit! Your still spending money on kids every day, the credit is for the Kids as well as the parents.! theres a CTC and an additional CTC, You should get the CTC regardless
Exactly, our kids go to school, eat the food we buy.. go to their business they run and fund … it’s complete bs .
If a person kept a small position with a dividend stock would this count for Johns needed $1 income for the $9 EITC?
thanks Jason. Clear and concise.
Glad it was helpful!
Why can't you claim the child tax credit if you are both retired and raising a grandchild
Because you have no earned income
I'd like to know myself !!
You can only claim it if you have earned income. Social security, pension, or ira distributions don’t count.
Hey can you help me out. For 2023 what is the correct formula and percentages?
Im working on a problem:
Mom and dad are married.
Theee kids one is 2 other is 3 and the other one is 5.
The mom paid $38,561 in child care for all of 2023. The kids were in daycare all year. And lives with the parents all year. What should be my first calculation?
Mom income: 80685
Dad income:114598
Let me know if you need more info.
Hi Jason, thank you for the excellent explanation. where can I find the table that you are using, 2022 earned income credit (EIC) table cation this is not a tax table ?
it should go back to the old way for non filers
Hi Jason, thank you for an excellent explanation of the different scenarios. What if you have MFJ with 2 children under 5, Taxpayer is Self Employed with a loss and spouse has W-2 earnings that are lower then the loss. AGI is a loss. Can the tax payer still claim the EIC, and the CTC? Pro Series is not allowing either due to the overall loss. I'm struggling because in my mind, the earned income would make them eligible if it were not for the Self Employment loss. Any help is greatly appreciated.
How does it work if your self employed for the year, however for half of the year you put yourself on payroll and pay yourself a weekly check and then pay taxes as an employee?
Hi Jason, I have a question for you similar to this video. Our disabled minor grandson lives with us. His grandma earns wages thru In-Home Support Services to take care of him. She earned 16k of which none of the wages is taxable. How do we report the wages so that it is not taxed and still get the EIC and CTC ? This refers to tax notice 2014-7. P.S. there are no wages reported in box 1 or 16 of her w-2 because we have a live-in certification form filed with IHSS. Thank You Kindly,
is SSI and SSDI earn income yes or no.
No!
All these adds? Seriously??? Smmfh.
Hi Jason. Thank you for the excellent explanation. where can I find the table, 2022 earned income credit (EIC) table cation this is not a tax table ? thank you