Can I File Head of Household Filing Status?

Head of Household (HOH) is a filing status chosen on tax returns to get standard deduction of $18000 for tax year 2018. A taxpayer can choose to file head of household filing status if married or unmarried, but should be taking care of the home or qualified person’s expenses. Filing head of the household filing status […]

What is Premium Tax Credit (PTC)?

Premium Tax Credit 2019: is a refundable form of tax credit that eligible households receive from the Internal Revenue Service (IRS) in the United States. The premium tax credit offsets the monthly health insurance premium costs for eligible households who have purchased their insurance via the Healthcare Exchange Marketplace. The ACA’s Premium Tax Credit People […]

American Opportunity Tax Credit (AOTC) 2019

American Opportunity Tax Credit 2019: (AOTC) is a financial assistance to children or for taxpayers to pursue Post-secondary education. AOTC permits taxpayers to reduce income taxes up to $2500 for each eligible student. IRS allows students who are on H1B, GC, GC EAD, Citizens and Resident Aliens to claim American Opportunity Credit or Lifetime Learning […]

Earned Income Tax Credit (EIC) 2019

Earned Income Tax Credit: is known by EITC or EIC is a tax benefit for the people who are working in the United States of America with low income. The taxpayer needs to meet certain criteria to be eligible for Earned Income Tax Credit since it reduces your tax or may even give you a […]

What is Lifetime Learning Tax Credit?

Lifetime Learning Tax Credit 2019: Every day we receive many calls regarding the information on LLC-Lifetime learning credit, we have understood the tax payers curiosity in knowing the information for this we have mentioned relevant required information below which will help our clients and taxpayers have clear understanding about the education credit is also called LLC […]