Obtain a certificate of eligibility:AVA certificate of eligibilityshows a mortgage lender that your military service meets the requirements for a VA loan. A VA-approved lender can obtain the document for you, w
For the 2024 and 2025 tax years, the standard Child Tax Credit isnonrefundable; if your credit exceeds your tax liability, your tax bill is reduced to zero, and any remaining unused credit is lost. However, you may be able to claim a refundable Additional Child Tax Credit for the unused ...
OK, so first of all, who qualifies for a tax extension? LISA GREENE-LEWIS: Anyone can file for a tax extension, but one thing to know, that it is an extension to file and not to pay. So if you owe money, you want to pay what you owe, even if you file an ...
However, you will be paying interest on the stamp duty amount for the duration of your mortgage. This means you’ll end up paying more overall than if you can pay the stamp duty outright. Borrowing more may also mean you need a higher loan-to-value mortgage where interest rates may be ...
Wondering who qualifies as a dependent on your tax return? We've got the answers on this edition of Tax Tips by TurboTax. If you have a child that you can claim as a dependent on your 2024 tax return, you could get a tax credit worth up to $2,000. You might also be ...
First determine if one or both could qualify for the credit. The credit is worth as much as $8,000. You can use some or all of the credit to reduce your federal income tax bill. If there’s a leftover credit amount after your tax bill has been reduced to z...
“Wages are only subject to Social Security taxes up to a certain amount, which is called the ‘wage base.’ For 2025, the Social Security tax wage base is $176,100. So, Social Security taxes aren’t imposed on any wages earned in 2025 above that amount.”– Rocky Mengle, Att...
The Internal Revenue Service (IRS) is a government organization responsible for collecting taxes from the American public. Learn about the IRS with help from TurboTax in this video on tax tips.
You may be wondering if you qualify for an exemption from the Social Security tax. If you are eligible, you stand to save a good amount of money. But remember, if you are exempt, you may not be able to take advantage of the benefits offered by the Social
Even if you earned income this year, you may not be obligated to file a tax return. Watch this video to help determine your filing status and learn about tax-exempt income.