Tax Now

LOANS: Offering Pre-fund loans up to $2500! Early estimates based on pay stubs. Beat the RUSH! E-signature also available if you are not able to come into the office.....especially for out of town, out of state, and out country (foreign earned income) filing.

The office will be open for the 2017 tax year beginning Tuesday January 2, 2018. Normal office hours are Monday through Friday 10am-7pm. See you all soon and HAPPY NEW YEAR!

Under tax reform, the Child Tax Credit may be worth as much as $2,000 per qualifying child depending upon your income that’s twice as much as before. A qualifying child for this credit must meet all of the following criteria: The child must be under age 17 age 16 or younger at the end of the tax year. The child must either be your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister or a descendant of any of these individuals, which includes ...your grandchild, niece or nephew. An adopted child is always considered your own child. The child must not have provided more than half of their own support. You must claim the child as a dependent on your federal tax return. The child must be a U.S. citizen, U.S. national, or U.S. resident alien and you must provide a valid Social Security number (SSN) for the child by the tax return due date. The child must have lived with you for more than half of the tax year (some exceptions apply). In prior years, the Child Tax Credit was nonrefundable which means that if the available tax credit exceeded your tax liability, your tax bill was simply reduced to zero. So even if you were able to claim the entire $1,000 per child (the maximum available credit for the 2016 tax year), if you didn’t have any tax liability, you couldn’t benefit from the credit. The credit would not carry forward to any future years, or back to any past years: it simply disappeared. Under tax reform, part of the Child Tax Credit remains nonrefundable but the old Additional Child Tax Credit, which was refundable, has essentially been merged into the new credit. I know that sounds confusing but what it means is that the Child Tax Credit is just one credit worth up to $2,000 per child and includes a refundable piece of up to $1,400 per child. To be clear, the $1,400 refundable piece is included as part of the $2,000 Child Tax Credit and is not an additional credit (unlike before).