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Residential Clean Energy Credit Ends 2025: What Qualifies
The 30% Residential Clean Energy Credit now ends for homes on December 31, 2025. Installations must be placed in service…
ACA: $0 Penalty for Not Having MEC and Reporting Essentials
Although the ACA penalty is $0 federally after 2018, MEC reporting continues. Forms 1095-A (due Feb 1), 1095-B and 1095-C…
Understanding the Foreign Tax Credit: Form 1116 Rules and FEIE Limits
The FTC lets U.S. taxpayers offset U.S. tax by foreign income taxes paid on income included on their U.S. return.…
Expanded Premium Tax Credit Through 2025: Who Qualifies
The premium tax credit is extended through 2025, letting some households above 400% of poverty qualify. Advance payments reduce monthly…
Understanding the Nonrefundable Adoption Credit: Eligibility and Special Needs
For 2024 the adoption credit is nonrefundable and maxes at $16,810 per eligible child; special-needs U.S. children qualify even without…
2024 Saver’s Credit (Nonrefundable): Eligibility, Rates, and Limits
For 2024, the nonrefundable Saver’s credit gives 50%, 20%, or 10% of qualifying retirement contributions (up to $2,000 per person),…
American Opportunity and Lifetime Learning Credits: Eligibility
Choose AOC for undergraduates (up to $2,500, partially refundable, half-time required) and LLC for flexible or job-skill courses (up to…
Nonrefundable Child and Dependent Care Credit: Eligibility and Limits
Taxpayers who paid work-related care for qualifying persons may claim a nonrefundable credit by filing Form 2441. Limits: $3,000 (one)…