With the tax season approaching, make sure you are aware of the Top 10 Most Common Tax Credits that may be entitled to you. Tax credits you may be eligible for, subtract from the amount of tax you owe.
There are two types of tax credits:
A nonrefundable tax credit means you get a refund only up to the amount you owe.
A refundable tax credit means you get a refund, even if it's more than what you owe.
At Profile Tax Prep we specialize in getting you all the tax credits you may qualify for!
1. Earned Income Tax Credit (EIC or ETIC)
2. American Opportunity Tax Credit (AOTC)
3. Lifetime Learning Credit
4. Child and Dependent Credit
5. Child and Dependent Care Credit
6. Retirement Savings Contribution Credit (Saver’s Credit)
7. Adoption Credit
8. Residential Efficiency Energy Credit (Energy Credit)
9. Elderly and Disabled Credit
10. Premium Tax Credit