--%>
Assignment Help - homework help

Child tax credit

A type of personal tax credit that reduces the amount a taxpayer must pay. The child tax credit is $1,000 (in 2008) for each child meeting the criteria the child must be a U.S.  National, citizen, or resident under 17, a dependent of the taxpayer, and a grandchild, stepchild, child or foster child of the taxpayer. For taxpayers with income below $10,500, the child tax credit is refundable up to 10% of the income under $10,500. The tax credit is phased out for taxpayers with modified adjusted gross incomes over $75,000 (for single taxpayer), $110,000 (for couples), and $55,000 (for married couples filing separately).

 

   Related Questions in Managerial Accounting

  • Q : Write a short note on Not-for-profit

    Write a short note on Not-for-profit organizations?

    		•
  • Q : Things which Weaknesses comprises Write

    Write a brief note on the things which Weaknesses comprises?

    		•
  • Q : Define Differential Cost Differential

    Differential Cost: The cost difference predicted when one course of action is adopted rather than others.

    		•
  • Q : Understandability-Accounting information

    What do you mean by the term Understandability which is accounting information?

    		•
  • Q : What is Job Order Costing Job Order

    Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.

    		•
  • Q : Define Cost Avoidance Cost Avoidance :

    Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.

    		•
  • Q : Blackout period A defined time period

    A defined time period in accounting for stock options. In the mean while the blackout period person granted the option is not allowed to exercise it. This usually occurs after the granting of the stock options and allows the price of the stock to increase above the exercise price.  <

    		•
  • Q : What is a Product Product : Any

    Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta

    		•
  • Q : Significance of partnership deed Why is

    Why is it significant to encompass a partnership deed in writing? Answer: Partnership deed is significant as it is a document stating relationship of each and every

    		•
  • Q : Management accounting-scope Write down

    Write down the scope of Management accounting?

    		•