Taxes
Child Tax Credit
- $1000 per child
- Child must be 16 and younger
- Can be your child, your sibling or a descendant of one of the previous (grandchild, niece or nephew
- Phases out if your Married Filing Jointly Adjusted Gross Income (AGI) is $110,000+ and/or your Head of household, single or qualifying widow/er is $75,000+ and/or Married Filing separately is $55,000+
- Other credits could affect the amount you get from the child tax credit
A deduction merely decreases taxable income, for expenses such as the college tuition and fees.
A credit, such as the child-tax credit, allows taxpayers to subtract the amount dollar for dollar from their tax bill, or add the amount to their refund. The tax credits in particular are geared more for middle- and lower-income families.
- Exemptions. Every member of a household potentially counts toward a tax-deductible exemption on the family tax return.
- Tuition and fees.
- Student-loan interest.
A credit, such as the child-tax credit, allows taxpayers to subtract the amount dollar for dollar from their tax bill, or add the amount to their refund. The tax credits in particular are geared more for middle- and lower-income families.
- Child Tax Credit
- Child and dependent care credit. Two-income households with children under 13 years old qualify for a dependent-care credit to help cover child-care expenses.
- American Opportunity credit. is for parents who are helping a child pay for college, and is worth up to $2,500 in 2012. To qualify, the student must be in his or her first four years of post-secondary education.
- Lifetime Learning credit. The Lifetime Learning credit is less restrictive than the American Opportunity credit. It covers students who have piled up more than four years of college credit and any other family members taking classes. Here's the hitch: It can be claimed only once on any given tax return.
- Adoption credit.
MCAS Miramar Free Tax Center
Tax Center Contact Number: (858) 577-1040, Location: Bldg 6275 (Across from the Medical Building)
From 1 February through 30 April, the specially-trained Marines at the MCAS Miramar Free Tax Center offer state and federal tax return filing services free of charge to all retired and active duty personnel and their dependents. Our hours are Monday through Friday, 0800 to 1600; however, please call to inquire about possible extended schedules during certain weeks.
What you must have when you come to the Tax Center:
What you must have when you come to the Tax Center:
- Your Military/Retiree/Dependent ID;
- Your Social Security card;
- Date of Birth and Social Security card of any dependent (e.g., spouse, children);
- Social Security number or Employer Identification Number of any day care provider, the provider’s address, and the total amount paid to the provider;
- If you are married and filing jointly with your spouse (recommended), you must bring a power of attorney authorizing you to file on your spouse’s behalf;
- 2010 tax return (not mandatory unless you itemized); and
- Any and all of the following 2011 TAX FORMS issued to you, and if filing jointly, to your spouse:
- W-2 (wages received)
- 1099-INT (interest received)
- 1099-MISC (miscellaneous income received, e.g., self-employment, rental property), with list of expenses, if applicable
- 1099-DIV (dividends and profits from stock and mutual funds)
- 1099-B: (proceeds from sale or transfer of stock)
- 1099-R: (pension, annuity, IRA-related funds)
Additionally, if you would like your refund directly deposited or your amount owed automatically withdrawn from your bank account, you must also have:
For Married Taxpayers:
If filing jointly with your spouse, (s)he need not be present, but you must bring the power of attorney mentioned above (either the one located here, or an appropriate special power of attorney for tax purposes) . Also, if you are filing separate from your spouse, you must have your spouse’s Social Security card, and know whether (s)he has already filed.
- Your bank name and routing number;
- Your bank account number;
For Married Taxpayers:
If filing jointly with your spouse, (s)he need not be present, but you must bring the power of attorney mentioned above (either the one located here, or an appropriate special power of attorney for tax purposes) . Also, if you are filing separate from your spouse, you must have your spouse’s Social Security card, and know whether (s)he has already filed.