tax credit

Tax Credit for Summer Camps and Other Childcare Expenses

If you work (as an employee or by being self-employed) and you pay for daytime childcare services for your children under the age of 13, you might be eligible for a Federal tax credit. Here is the list of the basic facts:
• The credit is calculated on up to $3,000 of qualified unreimbursed expenses for one child or $6,000 for two or more children.
• The amount of the credit is 35-20% of those expenses depending on your income.
• If you are filing a joint return with your spouse, both of you must have earned income.
• Summer daytime camps, daycare facilities, nannies, etc. qualify. Overnight camps and summer school tutoring do not.
• Your tax preparer will need the name of the person […]

By |June 16th, 2014|Categories: Individual Tax|Tags: , , , , |Comments Off on Tax Credit for Summer Camps and Other Childcare Expenses

California Enterprise Zone “Wind Down” Information

Legislative action resulted in the repeal of the Enterprise Zone Act and the dissolution of Enterprise Zones (EZ) effective December 31, 2013. The California Department of Housing and Community Development (HCD) has added an Enterprise Zone wind-down page to its website. In order to allow EZ businesses an opportunity to apply for hiring tax credits already earned for qualified hires made before January 1, 2014, vouchers may be applied for and issued until December 31, 2014. This is the only state EZ benefit which will remain available after the repeal of the EZ program on December 31, 2013. Click here to read more.

By |January 21st, 2014|Categories: Business Operations, Business Tax, Nonprofit Organizations|Tags: , , , , , |Comments Off on California Enterprise Zone “Wind Down” Information