Tax Rates Reflect Lifestyle: Difference between revisions
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Latest revision as of 03:46, 21 September 2024
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Now, let's examine if daily whittle made that first move some a little more. How about using some relevant tax credits? Since two of your youngsters are in college, let's assume that one costs you $15 thousand in tuition. Luckily tax credit called the Lifetime Learning Tax Credit -- worth up to two thousand dollars in this case. Also, your other child may qualify for something named the Hope Tax Credit of $1,500. Consult your tax professional for probably the most current tips on these two tax attributes. But assuming you qualify, that will reduce your bottom line tax liability by $3500. Since you owed 3,000 dollars, your tax is getting zero coins.
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