Personal Tax Credits

At Checked & Balanced Inc., we assist you in maximizing your personal tax deductions.

There are two types of tax credits:
A nonrefundable tax credit means you get a refund only up to the amount you owe.
A refundable tax credit means you get a refund, even if it’s more than what you owe.

Family & Individual Tax Credits

  • Earned Income Tax Credit
  • Child and Dependent Care Credit
  • Adoption Credit
  • Child Tax Credit
  • Credit for the Elderly or Disabled


Income & Savings Tax Credits

  • Earned Income Tax Credit
  • Saver’s Credit
  • Foreign Tax Credit
  • Excess Social Security and RRTA Tax Withheld
  • Credit for Tax on Undistributed Capital Gain
  • Nonrefundable Credit for Prior Year Minimum Tax
  • Credit to Holders of Tax Credit Bonds


Home Owners Tax Credits

  • Mortgage Interest Credit
  • Residential Energy Efficient Property Credit
  • Nonbusiness Energy Property Credit
  • Low-Income Housing Credit (for Owners)
  • Frequently Asked Questions on Capital Gains, Losses, and Sale of Home


Health care tax credits

  • Premium Tax Credit (Affordable Care Act)
  • Health Coverage Tax Credit
  • Medical and Dental Expenses
  • Health Savings Account (HSA)

Education Tax Credits

  • Lifetime Learning Credit
  • American Opportunity Tax Credit
  • Student Loan Interest
  • Tuition and Fees Deduction
  • Work-Related Educational Expenses
  • Teacher Educational Expenses


Work related tax credits

  • Deductible Business Expenses
  • Standard Mileage Rates
  • Home Office
  • Business Use of a Car
  • Business Travel Expenses
  • Bad Debt
  • Business Entertainment Expenses
  • Depreciation and Amortization


Itemized Deductions

  • Standard Deduction
  • Deductible Taxes
  • Property Tax
  • Real Estate Tax
  • Sales Tax
  • Charitable Contributions
  • Gambling Loss

Let us at Check & Balanced. Inc. help you understand these various tax credit and or deductions and see if any of these available tax deduction qualify you for any of these tax credits.

Categories: Tax Preparation