December 20, 2014 – Traverse City Tax Preparation Examiner, Frank Ellis, explains the credits and deductions parents can claim during the 2015 tax season, on Examiner.com. Noting parents are limited as far as time to learn about tax credits and exemptions, he introduces various options now available.


December 20, 2014 – Traverse City Tax Preparation Examiner, Frank Ellis, explains the credits and deductions parents can claim during the 2015 tax season, on Examiner.com. Noting parents are limited as far as time to learn about tax credits and exemptions, he introduces various options now available.

One of these is the dependent exemption, now at a set rate per child. Ellis highlights this as one option to reduce one’s taxable income. The child and dependent care credit for children under 13 allows taxpayers to deduct childcare expenses. Income requirements and loopholes are explained in the article to help readers learn if they can claim the credit.

The Earned Income Credit, a refundable tax credit, is explained by the author, who reveals how much a family with three or more children can be credited for. Income qualifications are explained as well, while the Child Tax Credit can be claimed for a child under the age of 17. Frank Ellis explains how one can use this credit or reduce or eliminate their IRS balance. http://www.examiner.com/article/the-2013-earned-income-credit-and-eic-calculator

In addition, the Examiner.com article discusses the adoption credit. This covers the expenses associated with adopting a child, such as adoption fees, traveling fees, attorney fees, and more. The tax credit can be worth up to $12,970. With each option, the author provides taxpayers with insight into how they may be eligible to save on money owed to the IRS. These are also options which many parents are not likely to know about.

The author also mentions TurboTax software and its question and answer tools and ability to up applicable tax credits. With the tips provided in this and other articles, the idea is to help people receive the largest refund possible. http://www.easyincometaxfilingonline.com/turbotax-tax-filing/

Frank Ellis, encourages all taxpayers to use a handy tool that can make their tax refund calculation for the year 2014 easier and faster with the use of an online tax refund calculator. This handy tool by Turbo Tax helps taxpayers determine if they are going to have a tax refund or paying money out. The tool can be used by taxpayers for free. http://www.examiner.com/article/announcing-the-2015-tax-refund-calculator-see-your-refund-minutes

To learn more about the tax credits and deductions available to parents this year, go to http://www.examiner.com/article/tax-saving-credits-and-deductions-for-parents-2014-2015.

About Frank Ellis

Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.

Contact Information
Frank Ellis
Easy Income Tax Filing Online
945 East 8th Street Suite A
Traverse City, Michigan 49686
Website: http://www.easyincometaxfilingonline.com