How oodles kids are allowed for the child credit and the EIC?
I have 3 kids and they told me i can just get credit for 2 of themAnswers: The above answerers are correct. We own 4 children and receive $4000 for tax credit for them, which is deduct from our tax owed. As this is a credit, you cannot receive final more than your pay. Since we compensated $5500 total for federal taxes, we are getting $4100 back surrounded by all, so our "net" duty payment is $1400. The EIC is constrained to 2 children. We make too much to qualify for that one.
EIC maxes out near two kids.
Child tax credit counts for every kid but it may be predetermined by your income.
You claim all of your children. Child rates credit is based on adjectives of them. EIC is for 2 only.
Your income may be so low that tallying a 3rd child to the return may not change the settlement, but you should *still* put the child on there.
Does anybody know State of Michigan taxes for member year residents?
At the end of 2006, my company moved me from Michigan to Ohio. However I didn't move my residence until May 2007. Thus I did not work surrounded by Michigan at all within 2007. My employer did not change my withholding to Ohio until I in truth moved my residence in May. Should I be capable of get adjectives of the MI withholding back?Answers: This is complex because Michigan and Ohio are "reciprical states".
You owe Michigan taxes for the time time of year you lived here. You owe Ohio taxes for the time period you lived nearby.
I will do some research and come back and post if I can find an answer.
*edit
Ok, here is what I found:
Ohio interconnect to info about quantity year resident:
http://tax.ohio.gov/divisions/ohio_indiv...
Michigan link to section year resident form (pdf file)
http://www.michigan.gov/documents/taxes/...
Looks like you will be file both!
Part-year and nonresidents must pay
income tariff to Michigan on all income
earn in Michigan or attributable to
Michigan.
List respectively type of income on Schedule NR
and decide how much is attributable to
Michigan. Each string in column A should be
like peas in a pod as the amount reported on your
federal return. Enter income attributable to
Michigan in column B and the rest surrounded by
column C. The column C total on line 14 is
the amount you may subtract from
Adjusted Gross Income (AGI).
here you budge with most important page as well
My son turned 18 Oct 2007 He made 3000 near a summer employment. Tax erudite can i still claim him as a dependant?
I'm a single mother, head of household. My son claimed himself on beside his summer job.He basically turned 18 in Oct and is a student within High School. Can i still claim him as a dependent? IAnswers: In order for you to claim your son as a dependent:
1. He must be (a) lower than age 19 at the end of the year, (b) underneath age 24 at the end of the year and a full-time student, or (c) any age if lastingly and totally disabled.
2. He must have lived near you for more than half of the year.
3. He must not hold provided more than half of his own support for the year.
Since you bump into these tests, you can claim him as a dependent.
He claimed himself on his summer assignment FOR WITHHOLDING PURPOSES ONLY. When he files his taxes, make sure he does NOT claim himself on his Federal Income Tax return, since indistinguishable Social Security number cannot be claimed for a personal exemption on two tax returns.
I believe you can simply do it if they are going to college full time and still live at home.
But other than that..if he is 18..he is an fully fledged...he has to database his own taxes but then again he may not hold to if he didn't earn a certain set amount.
www.irs.gov
i imagine the biggest criteria is that you have to own given OVER half of his upkeep to be capable of claim him. don't think age have anything to do with it.
would you right to be heard (and can you prove if need be) that it cost you OVER $3,000 dollars?
hey if he lives near you 1/2 of your house expenses could be put towards that $3001 deduction.
food, bake, elec. gas, taxes, lunch money etc.
you may have to prove those expenses.
i surely would try.
accurate luck to ya
most tax returns ask if you can be claimed on someone else,s taxes.
If he's beneath the age of 19 or a full time student under the age of 23 you can claim him. to be sure, hold Jr put his money into his tuition, or even better he can put all his income into an IRA, you pay his tuition, afterwards you get the write rotten, the exemption, the Head of Household status, he cant blow his money on beer and co-eds, he starts saving foe his retirement which will come long after the Social Security failure has come and gone, and you can hold it over his cranium and insist he care for you within your old age.
That's a Win/Win.