Ashlea Ebeling
speaker
2,002 appearances
38 recordings
1 series
first heard Jul 2022
last heard Feb 2025
Ashlea Ebeling’s voice in public audio — every appearance, attributed to the second.
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Appearances
If it turns out your income ended up being too high and you're not eligible for it, it could be clawed back.
Two that are often overlooked are tax breaks for education.
The American Opportunity Tax Credit provides up to $2,500 per student.
And then there's another one, the Lifetime Learning Credit, that's typically less generous but applies to a broader range of expenses.
That one's $2,000 per taxpayer per year.
Families should really look at these carefully to make sure that they're taking the one that gives them the biggest deduction.
And the child care tax credit as well is another big one, right?
So that's the child or dependent tax credit.
That's tricky, too, because a lot of people who work for big employers, they can put in pre-tax money into a flexible savings account for child care.
And people who don't have that option would then be able to take this child or dependent tax credit directly on their tax return.
If you don't get the benefit through work, basically, you can get a similar benefit on your tax return.
Okay.
And that's for each child under age 17 at year end gets up to $2,000.
Charitable deductions is another area that's really changed since the 2017 tax law.
Nine out of 10 taxpayers take the standard deduction.
You can only take the charitable deduction if you itemize.
So you'd have to have such big charitable deductions or other things to get you over the standard deduction.
So there are fewer people taking the charitable deduction.
But if you do take the charitable deduction, it's super important that you substantiate, you have like all the proof.
So that's a day-by-day in Congress.
Showing 41–60 of 2,002 · page 3 of 101
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